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Yahoo
17 minutes ago
- Yahoo
‘Shovel-ready' renewables prioritised as grid connections queue gets shake-up
New 'shovel-ready' wind and solar farms will be prioritised to connect to the grid, operators said as they kickstarted moves to shake up the gridlocked connections queue. The existing first-come, first-served approach to the grid connections queue, which operators say has led to unviable and speculative schemes holding up clean energy projects that are ready to plug in, has been scrapped. The National Energy System Operator (Neso) said it was opening a three-week application window on Tuesday for more than 5,000 energy generation and demand projects in the queue to submit evidence to support their connection to the grid as it undertakes a major reordering of the system. The new plan will see clean energy projects that can be up and running by 2030 prioritised, in a bid to help Labour hit its goal to near fully powering the country with clean electricity by the end of the decade, and to boost economic growth. Neso said the connections queue had grown tenfold in just five years, and currently stands at 738 gigawatts (GW) – more than four times the amount of clean energy generation that is required by 2030 to meet Government goals. The assessment process, which will prioritise projects on the basis of how ready they are and alignment with the UK's clean energy goals, aims to connect the 170 GW of power needed by 2030. Kayte O'Neill, chief operating officer, National Energy System Operator, said: 'Neso opening the evidence window today is a key moment in the once-in-a-lifetime transformation of our electricity network, and a vital step for delivering clean power by 2030, while also helping supercharge economic growth for Great Britain. 'By prioritising agreements for projects that are critical and shovel-ready, developers will get the certainty they need to support investment decisions. 'It also gives energy consumers, from households and hospitals to electric car charging stations and data centres, the confidence of clean and stable power for generations to come. 'We advise all applicants to ensure they submit the correct evidence, so that we can assess applications fully and fairly.' Energy minister Michael Shanks said: 'Today marks a milestone in our work to overhaul the connections queue and unleash ready-to-go clean power projects that will help us reach our 2030 target. 'Developers in the queue now have the chance to demonstrate to Neso that their projects are ready to progress.' He added the move would take Britain closer to an energy system that takes the country 'off the rollercoaster of global fossil fuel markets and can bring bills down for good'. Applicants in the queue have until July 29 to submit evidence, with those meeting the criteria placed in a 'gate 2' queue and receiving an updated connection offer, prioritising those due to connect in 2026 and 2027. Neso said it aims to have made all offers for projects needed to meet the 2030 goals by early next year. Those who do not meet the criteria will get a 'gate 1' offer, remaining in the system but without a connection date. They can reapply through future biannual application windows or withdraw their scheme.
Yahoo
22 minutes ago
- Yahoo
Leverkusen boss reveals key details on Wirtz's move to Liverpool
Around two weeks ago, Florian Wirtz was officially confirmed as a Liverpool player after completing his record-breaking transfer, reportedly worth €140 million, from Bayer Leverkusen. Reflecting on the landmark move in an interview with Sport Bild, Bayer Leverkusen managing director for sport Simon Rolfes revealed that the German club wanted to extend Wirtz's contract until it became clear that the young German was keen on taking the next step. Advertisement 'Our aim was to extend Florian's contract and keep him for at least one more year. But gradually, we sensed that he was increasingly focused on a transfer,' Rolfes said. 'From February or March onwards, the conversations shifted more towards other clubs and leagues. We always knew how he was thinking. We knew from the parents who they were talking to. The clubs from abroad (including Liverpool and Manchester City) also kept us informed; they acted very professionally and seriously.' When asked when Wirtz informed the club of his decision, Rolfes replied: 'In May, he told us that he had decided on FC Liverpool.' Advertisement Following that, negotiations between Leverkusen and Liverpool began. 'We only negotiated with Liverpool after Florian told us it was his desired club. From the start of negotiations, I was confident it would work out. Of course, everyone fights for their position, but it was always respectful. 'The people involved from both clubs know each other so well that no personal meeting was necessary. We handled everything by phone, email, and video conferences.'
Yahoo
22 minutes ago
- Yahoo
Ascentage Pharma Appoints Dr. Veet Misra as Chief Financial Officer and Eric Huang as Senior Vice President of Global Corporate Development and Finance
ROCKVILLE, Md. and SUZHOU, China, July 07, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) ('Ascentage Pharma' or the 'Company'), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced the appointments of Veet Misra, Ph.D., as the Company's Chief Financial Officer, and Mr. Eric Huang, as Senior Vice President of Global Corporate Development and Finance. Both Dr. Misra and Mr. Huang will report directly to Dajun Yang, M.D., Ph.D., the Company's Chairman & Chief Executive Officer. Dr. Yang said, 'I am excited to welcome Veet and Eric to our senior management team. As an innovative biopharmaceutical company dual listed on the Hong Kong Stock Exchange and Nasdaq, Ascentage Pharma is entering a phase of notable growth. The addition of these seasoned executives will help accelerate the implementation of our global strategy of becoming a leading, fully integrated global biopharmaceutical company.' Dr. Misra brings a rare combination of deep scientific background in biology and significant experience in U.S. capital markets in the biopharmaceutical sector. 'I am confident that Veet's unique blend of scientific acumen and capital markets expertise can help us garner stronger traction in the global capital markets and strengthen our operations,' added Dr. Yang. Mr. Huang brings rich expertise in the global pharmaceutical industry and a wealth of experience in corporate management. 'This makes Eric a great match for Ascentage Pharma's long-term growth needs. His experience will help drive excellence in Ascentage Pharma's corporate operations as the Company continues to make headway in expanding globally,' said Dr. Yang. Dr. Misra commented, 'I am thrilled to join Ascentage Pharma as its Chief Financial Officer. Ascentage Pharma is a global leader in apoptosis-targeted therapies. Its dual listing in Hong Kong and the U.S. reflects strong recognition of the Company in these two premier markets. I look forward to working with my colleagues to accelerate the global development of the Company's innovative pipeline and create sustained value for patients and shareholders.' Mr. Huang said, 'It is my great honor to join Ascentage Pharma, a company that has established growing global competitiveness in the field of hematologic malignancies. The strategic partnership with Takeda and the dual listing in Hong Kong and the U.S. have created a sound foundation for global expansion. I look forward to working closely with the Company's management team to further improve operations and efficiently integrate the Company's existing resources to accelerate the global development and commercialization of its core assets, ultimately bringing more novel therapeutics to patients in need.' Dr. Misra has more than 20 years of experience in investment banking. Prior to joining Ascentage Pharma, he was a Managing Director in the Healthcare Investment Banking group at Cantor Fitzgerald where he covered the biopharmaceutical sector. Before that, he worked in the life sciences investment banking groups at Houlihan Lokey and RBC Capital Markets. Over the course of his banking career, Dr. Misra advised on deals spanning equity, equity-linked, debt, and debt restructuring, as well as buy-side/sell-side M&A and corporate strategy, primarily focusing on the biotechnology sector. Dr. Misra earned a Ph.D. in Molecular Biology, with a focus on the oncology field, from the University of Toronto and an MBA in Finance & Strategy from the Schulich School of Business in Toronto. Mr. Huang has served in various managerial positions at multinational companies for more than 20 years and possesses extensive experience in driving continuous financial performance improvement, business/operational excellence, and global operations. Prior to joining Ascentage Pharma, Mr. Huang served as the Chief Financial Officer for Greater China and Asia-Pacific at Beigene, where he also led Global Technical Operations Finance and Global Commercial Finance, and implemented comprehensive financial planning management and optimized globally-based resource allocation leading to sustained financial improvements. Before that, Mr. Huang was at Novartis, where he served as the head of finance for multiple countries and regions. Mr. Huang received an MBA in Finance from Dowling Business School. About Ascentage Pharma Ascentage Pharma (NASDAQ: AAPG; HKEX: 6855) is a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers. The company has built a rich pipeline of innovative drug candidates that includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53 and next-generation kinase inhibitors. The lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). The Company is currently conducting an FDA-cleared, global registrational Phase III trial, or POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients. The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. The NDA for the treatment of relapsed and/or refractory CLL and SLL was accepted with Priority Review designation by China's National Medical Products Administration. The Company is currently conducting 4 global registrational Phase III trials: the GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the GLORA-4 study in patients with newly diagnosed higher risk MDS. Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled 'Risk factors' and 'Special note regarding forward-looking statements and industry data' in its Registration Statement on Form F-1, as amended, filed with the SEC on January 21, 2025, and the Form 20-F filed with the SEC on April 16, 2025, the sections headed 'Forward-looking Statements' and 'Risk Factors' in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited we made or make from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company's management. As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ContactsInvestor Relations:Hogan Wan, Head of IR and StrategyAscentage 512 85557777 Stephanie CarringtonICR (646) 277-1282 Media Relations:Sean LeousICR (646) 866-4012
