Market Newsdesk

TOKYO
, April 16, 2025 /PRNewswire/ — TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF) (“TOYO” or the “Company”), a solar solution company, was honoured to host His Excellency Abiy Ahmed Ali, Prime Minister of Ethiopia, at its state-of-the-art solar cell production facility in Phu Tho Province on the morning of April 15, 2025. The Prime Minister was accompanied by a high-ranking ministerial delegation and Mr. Nguyen Manh Son, Vice Governor of Phu Tho Province. Representing TOYO’s parent company, Abalance Group, Mr. Lewis Cai, Executive Vice President, warmly welcomed the delegation.

During the visit, Prime Minister Abiy Ahmed toured TOYO’s cutting-edge intelligent solar cell production line and commended the company’s achievements in technological innovation and its extensive global footprint in the photovoltaic sector. The Prime Minister emphasized the critical role of renewable energy in Ethiopia’s energy transition and expressed strong support for accelerating the second-phase expansion of TOYO’s solar cell production facility in Ethiopia.

TOYO is currently expanding its Ethiopian facility in Hawassa from an existing 2 GW capacity to 4 GW. This expansion is poised to meet growing global demand for high-performance solar cells and aligns with Ethiopia’s commitment to sustainable energy development. The project is scheduled for completion by July 2025, with production expected to commence by August 2025.

Prime Minister Abiy Ahmed also extended an invitation to Abalance Group to deepen its involvement in Ethiopia’s renewable energy sector by participating in the development of photovoltaic power plants. This initiative aims to enhance strategic cooperation between Ethiopia and TOYO, foster large-scale adoption of clean energy technologies, and advance Ethiopia’s national green energy goals.

“TOYO remains dedicated to advancing clean energy solutions worldwide by delivering innovative solutions and establishing a robust supply chain that supports renewable energy adoption worldwide. Our partnership with Ethiopia underscores our commitment to sustainability and growth, leveraging advanced research, cutting-edge technology, and industrial expertise,” said Mr. Junsei Ryu, Chairman and CEO of the Company.

About TOYO Co., Ltd.

TOYO is a solar solutions company that is committed to becoming a full-service solar solutions provider in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include but are not limited to, statements regarding the expected growth of TOYO, the expected order delivery of TOYO products, TOYO’s construction plan for new facilities and anticipated commencement of production. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of TOYO’s management and are not predictions of actual performance.

These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

TOYO cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to several risks and uncertainties, including, among others, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of TOYO, and other risks and uncertainties, including but not limited to those included under the heading “Risk Factors” of the filings of TOYO with the SEC. There may be additional risks that TOYO does not presently know or that TOYO currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of TOYO as of the date of this press release. Subsequent events and developments may cause those views to change. However, while TOYO may update these forward-looking statements in the future, there is no current intention to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of TOYO as of any date subsequent to the date of this press release. Except as may be required by law, TOYO does not undertake any duty to update these forward-looking statements.

Contact Information:

For TOYO Co., Ltd.


[email protected]
 

Crocker Coulson
Email: [email protected]
Tel: (646) 652-7185

View original content:https://www.prnewswire.com/news-releases/ethiopian-prime-minister-visits-toyo-facility-in-vietnam-strengthening-strategic-collaboration-in-renewable-energy-302430293.html

SOURCE TOYO Co., Ltd

Family-operated grocer invites {N}power® members to celebrate with a free state-themed reusable tote and additional savings

LAKEWOOD, Colo., April 16, 2025 /PRNewswire/ — Natural Grocers®, the nation’s leading family-operated organic and natural grocery retailer, invites customers to its “Celebrate North Dakota” event, April 19-21, at its three North Dakota stores. In honor of National North Dakota Day, {N}power® members will receive a free, state-themed Natural Grocers reusable bag, along with a $5 off coupon for in-store purchases.

NORTH DAKOTA PROUD 
Natural Grocers has proudly served North Dakota since 2015, when it opened its first store in Fargo. The company soon expanded to Grand Forks in 2016 and Bismarck in 2021—bringing its commitment to high-quality natural and organic groceries and its Five Founding Principles to communities across the Peace Garden State.

1. 
   Bismarck
   
2. 
   Fargo
   
3. 
   Grand Forks
   

“We were drawn to North Dakota for its stunning landscapes and rich cultural and agricultural heritage,” said Raquel Isely, vice president of marketing at Natural Grocers. “From day one in Fargo, we were welcomed by customers who value a family-operated business focused on health and wellness. Today, with three locations across the state, we’re honored to continue serving North Dakotans with our world-class customer service and a deep commitment to the health of people, animals and the planet.”

NORTH DAKOTA {N}POWER MEMBERS SAVE & CELEBRATE 
Natural Grocers will be celebrating National North Dakota Day, while honoring its customers with a freebie and extra savings for {N}power members from April 19-21, 2025.

• 
  April 19-21: {N}power members at all North Dakota stores will receive a FREE, limited-edition, reusable shopping bag featuring each of the 21 states Natural Grocers has a presence in—including North Dakota, while supplies last.^[i]
• 
  April 19-21: {N}power members will enjoy extra savings with a $5 off “Click to Load” coupon.^[ii]

SIGN UP & SAVE
Not an {N}power member? Not a problem! Discover {N}power, Natural Grocers’ free customer rewards program, and enjoy exclusive discounts, deals, and surprise offers. You’ll earn valuable rewards points with every visit. Customers can sign up for {N}power here.^[iii] Customers can also download the Natural Grocers App for easy access to {N}power benefits and more. 

A COMMITMENT TO NORTH DAKOTA CREW:
Natural Grocers provides careers for over 60 local good4u^SM Crew members in the state of North Dakota. The company is passionate about ensuring that its employees can live a healthy, balanced life. Natural Grocers is committed to positively impacting Crew’s physical, emotional and financial well-being with free nutrition education programs, excellent benefits and access to the highest quality, affordably priced products.

Click here to learn more about career options with Natural Grocers.

LEARN MORE

• Subscribe to the Free Health Hotline® Magazine to learn more about a natural approach to living with monthly sale items, recipes and educational articles.
• To keep up with the latest that Natural Grocers has to offer, follow them on Facebook, Instagram, or TikTok.
• For media inquiries, please contact [email protected].

ABOUT NATURAL GROCERS BY VITAMIN COTTAGE

Founded in 1955, Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products, and dietary supplements. The grocery products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial flavors, preservatives, or sweeteners (as defined by its standards), synthetic colors, or partially hydrogenated or hydrogenated oils. The Company sells only USDA-certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers’ flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, clean, and convenient retail environment. The Company also provides extensive free science-based Nutrition Education programs to help customers and Crew make informed health and nutrition choices. Natural Grocers is committed to its 5 Founding Principles—including its “Commitment to Community” and “Commitment to Crew”. In fiscal year 2024, the Company invested more than $15 million in incremental compensation and discretionary payments for Crew. Headquartered in the Union Square neighborhood of Lakewood, CO, Natural Grocers has 169 stores in 21 states. Visit www.naturalgrocers.com for more information and store locations. 

^[i] Offer available only to registered {N}power members. Limit one bag per customer. Only valid 4/19/25 to 4/21/25 at participating North Dakota stores, while supplies last. Quantity limited to stock on hand; no rain checks.

^[ii] Offer available only to registered {N}power members, for in store purchases at participating North Dakota Natural Grocers stores, 4/19/25 to 4/21/25. Customer must load the reward via {N}power email or app prompt before shopping. $5 discount will be applied to product’s regular non-discounted price. A minimum purchase of $25 is required to use the $5 off coupon. Must present phone number at checkout to accumulate towards the $25 requirement in one transaction.

^[iii] Sign up by 4/16/25 to receive this coupon via email or app. {N}power® offers are available only to registered members and are subject to program terms and conditions available at www.naturalgrocers.com/npower and privacy available at www.naturalgrocers.com/privacy-policy. Natural Grocers reserves the right to correct errors. Void where prohibited by law. Natural Grocers employees, including members of their household, are not eligible.

View original content to download multimedia:https://www.prnewswire.com/news-releases/natural-grocers-celebrates-national-north-dakota-day-with-special-gifts-and-savings-april-19-21-2025-302429713.html

SOURCE Natural Grocers by Vitamin Cottage, Inc.

Healthcare Focused Long-term Investors Support Strategic Vision

Accelerating Shift to Higher-Margin Orthobiologics Supported by New Product Launches

BELGRADE, Mont.
, April 16, 2025 /PRNewswire/ — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal, orthopedic and woundcare disorders, today announced the completion of a secondary private sale of 73.1 million shares of Xtant common stock held by funds affiliated with OrbiMed Advisors LLC (“OrbiMed”) to several existing and new stockholders, led by Nantahala Capital Management LLC (“Nantahala”).

Sean Browne, President and CEO of Xtant Medical, stated, “We want to thank OrbiMed for its partnership and investment in Xtant over the years.” As a result of the sale of OrbiMed’s ownership position in Xtant, the investor rights agreement between Xtant and OrbiMed was terminated, which will provide Xtant greater strategic and operational flexibility going forward.

Mr. Browne continued, “We are pleased that this transaction has resulted in significant ownership by long-term, healthcare-focused investors who are aligned with our vision and fully committed to maximizing stockholder value. As we look ahead, we remain firmly focused on prioritizing profitability and achieving self-sustainability as the foundation of our long-term growth strategy. A key driver of this will be a continued shift toward our higher-margin orthobiologics and leveraging the capabilities of our Montana manufacturing facility to drive operational cost efficiencies. We have several new product launches planned in the near term that will further expand our offerings beyond spine, which we believe will help accelerate growth in 2025 and beyond.”

Dan Mack, Managing Member of Nantahala, commented, “We are pleased to partner with Xtant at such an exciting moment. The company’s innovative biologics and implant solutions address a clear and growing need in the healthcare space, particularly as demand increases for regenerative and cost-effective surgical solutions. We fully support Xtant’s increased strategic focus on orthobiologics, which we believe will maximize stockholder value.”

While Xtant was not a party to the securities purchase agreement and did not receive any proceeds from the transaction, Xtant has agreed to register the resale of the shares purchased by the investors with the Securities and Exchange Commission (“SEC”) on a Form S-1 registration statement to facilitate the transaction and assist OrbiMed in obtaining liquidity for its Xtant investment.

Preliminary Revenue for Q1 2025

The company also announced that it expects to report revenue for the first quarter of 2025 ranging between $32.8 million and $33.1 million, representing 18% to 19% growth compared to first quarter 2024 revenue. The strong growth experienced in the first quarter of 2025 was driven by orthobiologics and licensing revenue.

About Xtant Medical Holdings, Inc.

Xtant Medical’s mission of “honoring the gift of donation so that our patients can live as full and complete a life as possible” is the driving force behind our company. Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics and spinal implant systems to facilitate spinal fusion in complex spine, deformity and degenerative procedures. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.

The symbols ™ and ® denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as indicated in the United States, and in other countries. All other trademarks and trade names referred to in this release are the property of their respective owners.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “intends,” ”expects,” ”anticipates,” ”plans,” ”believes,” ”estimates,” “continue,” “future,” ”will,” “potential,” “preliminary,” similar expressions or the negative thereof, and the use of future dates. Forward-looking statements in this release include the Company’s preliminary first quarter 2025 revenue and statements regarding the Company’s shift toward higher-margin orthobiologics and leveraging the capabilities of its Montana manufacturing facility to drive operational cost efficiencies and several new product launches planned in the near term that will further expand its offerings beyond spine, which the Company believes will help accelerate growth in 2025 and beyond. The Company cautions that its forward-looking statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: risk that the Company’s actual first quarter 2025 revenue will deviate from its preliminary revenue results; its future operating results and financial performance; its ability to meets its 2025 revenue and other guidance; its ability to execute its strategic priorities and become operationally self-sustaining and less reliant on third-party manufacturers and suppliers; risks associated with its acquisitions and the integration of those businesses; anticipated continued shortages of stem cells which may adversely affect future revenues; its ability to implement successfully future growth initiatives and risks associated therewith; possible future impairment charges to long-lived assets and goodwill and write-downs of excess inventory; the ability to remain competitive; the ability to innovate, develop and introduce new products and the success of those products; the ability to engage and retain new and existing independent distributors and agents and qualified personnel and the Company’s dependence on key independent agents for a significant portion of its revenue; the effect of labor and hospital staffing shortages on the Company’s business, operating results and financial condition, especially when they affect key markets; the effect of tariffs, inflation, increased interest rates and other recessionary factors and supply chain disruptions; the effect of product sales mix changes on the Company’s financial results; government and third-party coverage and reimbursement for Company products; the ability to obtain and maintain regulatory approvals and comply with government regulations; the effect of product recalls, defects and liability claims and other litigation to which the Company may be subject; the ability to license certain of the Company’s intellectual property on commercially reasonable terms and to maintain any such licenses; the ability to obtain and protect Company intellectual property and proprietary rights and operate without infringing the rights of others; risks associated with the Company’s clinical trials; international risks; the ability to service Company debt, comply with its debt covenants and access additional indebtedness; the ability to maintain sufficient liquidity to fund its operations and obtain financing on favorable terms or at all; and other factors. Additional risk factors are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 6, 2025. Investors are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement.

View original content:https://www.prnewswire.com/news-releases/xtant-medical-announces-secondary-private-sale-of-existing-shares-by-orbimed-and-preliminary-first-quarter-2025-revenue-growth-of-18-to-19-302430288.html

SOURCE Xtant Medical Holdings, Inc.

– International event will raise awareness and bring together RRP patients, caregivers, and the healthcare community supporting them –
– Recurrent respiratory papillomatosis is a rare, debilitating, chronic disease that impacts both children and adults and is mainly driven by HPV 6/11 infection –
– There is no FDA-approved therapeutic for the treatment of RRP, and the current standard-of-care is repeated surgeries, which do not address the underlying cause of disease and are associated with significant morbidity and risk of irreversible injury –

GERMANTOWN, Md.
, April 16, 2025 /PRNewswire/ — Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced that the Company will team up again with the Recurrent Respiratory Papillomatosis Foundation (RRPF) to co-host the annual RRP Awareness Day on June 11, 2025. RRP Awareness Day is an international event to raise awareness about recurrent respiratory papillomatosis (RRP), bringing together patients with RRP, their caregivers, and the healthcare community supporting them to encourage dialogue and build community among those affected by this rare, debilitating chronic disease.

RRP impacts both children and adults and is mainly driven by HPV 6/11 infection resulting in papilloma growth in the upper and lower respiratory tract, potentially leading to severe voice disturbance, compromised airway, and recurrent post-obstructive pneumonias. Although rare, RRP has the potential for transformation to malignant cancer and can be fatal. Current estimates suggest there are approximately 27,000 adult patients in the US and more than 125,000 patients outside of the US. There is no cure for RRP and the current standard-of-care is repeated surgeries, which do not address the underlying cause of disease and are associated with significant morbidity. With the cycle of recurrence and surgery, patients can require hundreds of lifetime surgeries. The cumulative risk of iatrogenic laryngeal injury increases with each RRP surgery, particularly with patients requiring five or more lifetime surgeries. There is high unmet need for a treatment option that can treat the underlying cause of the disease and reduce the need for RRP surgeries.

RRP Awareness Day activities will culminate in a live event on June 11^th in Washington DC featuring an in-person panel discussion with patients, caregivers, and treating physicians and will be broadcast to webcast participants globally. This year’s event will focus on raising awareness regarding the patient and caregiver experience with RRP, the burden of living with RRP, and the tremendous unmet need for new treatment options.

“As a rare and chronic disease, a collective voice is needed to support the RRP patient community. This event provides an important platform for our community to help raise awareness about the experience and burden of living with a rare, chronic and debilitating disease like RRP,” said Kim McClellan, Board President, RRPF. “We encourage anyone living with RRP, either as a patient, family member or caregiver, to join us to support our community.”

“Building on last year’s successful inaugural RRP Awareness Day, we are proud to join RRPF again to co-host this extraordinary event in a potentially game-changing year for RRP patients. For too long, the RRP community has lived without hope for a treatment that addresses the underlying cause of disease and without true recognition of the devastating nature of this disease. Instead, they have endured ongoing daily burdens to their lives coupled with endless surgeries, which carry tremendous risk for irreversible injury and other morbidities. With new research and innovations, we believe that hope is on the horizon and we invite you to join us on June 11^th to support the RRP community,” said Helen Sabzevari, PhD, President and CEO of Precigen.

To stay up-to-date with RRP Awareness Day activities and to register for the June 11^th webcast, please visit www.RRPAwareness.org.

Precigen: Advancing Medicine with Precision^®
Precigen (Nasdaq: PGEN) is a dedicated discovery and clinical stage biopharmaceutical company advancing the next generation of gene and cell therapies using precision technology to target the most urgent and intractable diseases in our core therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. Our technologies enable us to find innovative solutions for affordable biotherapeutics in a controlled manner. Precigen operates as an innovation engine progressing a preclinical and clinical pipeline of well-differentiated therapies toward clinical proof-of-concept and commercialization. For more information about Precigen, visit www.precigen.com or follow us on LinkedIn or YouTube.

About RRPF
The Recurrent Respiratory Papillomatosis Foundation (RRPF) was created to provide family support; promote public awareness; and aid in the prevention, cure, and treatment of recurrent respiratory papillomatosis (RRP), a rare disease that affects the voice. The most common symptoms of RRP are a hoarse or strained voice, dysphonia (difficulty in speaking), or aphonia (loss of voice). The organization focuses primarily on networking within the RRP community, including patients, families, medical practitioners, and researchers. Its goal is to stimulate more RRP-related research that may lead to more effective treatments and, ultimately, a cure for this disease.

Investor Contact:

Steven M. Harasym

Tel: +1 (301) 556-9850
[email protected]

Media Contact:

Donelle M. Gregory

[email protected]

View original content:https://www.prnewswire.com/news-releases/precigen-and-recurrent-respiratory-papillomatosis-foundation-to-host-the-2025-international-rrp-awareness-day-on-june-11th-302429969.html

SOURCE Precigen, Inc.

From modernizing outdated technology to implementing responsible AI governance, 
report examines the key factors driving enterprise AI success in 2025 and beyond

NEWTOWN, Pa.
, April 16, 2025 /PRNewswire/ — EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation and services and product engineering company, today announced the release of its AI research report, “From Hype to Impact: How Enterprises Can Unlock Real Business Value with AI.” The report, based on a survey of 7,300 participants across nine countries and eight industries, examines the current state of AI adoption, challenges and opportunities for businesses looking to generate tangible business value from AI investments.

The study reveals a notable disconnect between perception and reality in enterprise AI adoption among respondents from the U.S., Canada, the U.K., Germany, Switzerland, France, the Netherlands, Singapore and Argentina. Nearly half (49%) of respondents rated their companies as “advanced” in AI implementation, with 5% identifying as “disruptors,” 32% as “competent” and 14% as “beginners.” However, only 26% of those who self-identified as advanced companies and disruptors have successfully delivered AI use cases to market.

“Following the release of ChatGPT and throughout 2023 and 2024, we witnessed companies across industries experiment with AI and develop proofs of concept, primarily targeting immediate gains in productivity improvements and operational efficiencies,” said Elaina Shekhter, Chief Marketing and Strategy Officer, EPAM. “This new research clearly shows that we’re now entering a new phase where success depends on identifying high-value use cases and prioritizing them strategically to achieve broad organizational impact. Enterprises that can effectively align their talent, data and technology around these priority use cases will be the ones that actually deploy AI to scale and capture business value from their AI investments in 2025 and beyond.”

Key findings from the report include:

• Acceleration of AI investments: Companies plan to increase their AI spending by 14% year-over-year in 2025, signalling a continued commitment to AI-driven growth.

• Scaling AI remains a challenge: While 30% of technology-advanced companies have successfully implemented AI at scale, many organizations struggle to bridge the gap between experimentation and enterprise-wide deployment.

• AI’s direct impact on business: Disruptors attribute 53% of their expected 2025 profits to AI investments, which demonstrates a tangible financial impact for the market leaders.

• Governance and security trail AI growth: Businesses anticipate a minimum of 18 months to implement effective AI governance models, highlighting the complexity of aligning AI with the rapidly evolving regulatory landscape.

• AI talent remains a priority: 43% of all companies surveyed plan to hire AI-related roles throughout 2025, with machine learning engineers and AI researchers being the most in-demand positions.

“Improved productivity and operational efficiency are universal goals, but true transformation lies in bridging the gap between tech teams and the business,” said Dmitry Tovpeko, VP, Engineering, EPAM. “As AI reshapes the enterprise, developers are evolving from task-oriented users to strategic experts, responsibly harnessing AI for end-to-end scenarios. Success hinges not on tech stacks or cloud infrastructure, but on aligning tech teams with business objectives to solve real-world customer problems.”

To realize the full potential of AI, the report highlights the importance of aligning people, data and technology to unlock real business value and identifies four critical areas for the successful adoption of AI:

1. People, processes and culture: Effective AI implementation requires strong executive leadership that clearly articulates priorities and focus areas. In fact, the data reveals that 65% of disruptors understand the necessary skills for AI adoption.

2. Business and technology modernization: While 31% of executives see outdated technology as a barrier to AI adoption, the real challenge is the lack of alignment between business and technical teams. Once a clear organizational purpose is established and communicated, engineering teams can then map out a modernization strategy.

3. Security: Security remains a universal priority for senior executives and engineering teams, particularly regarding data protection, data quality and cloud security, with 35% of businesses saying their top challenge to achieving modernization is their lack of sophisticated security programs.

4. Governance and responsible AI: While 75% of advanced companies claim to have established clear AI strategies, only 4% of disruptors say they have developed comprehensive governance frameworks even with the understanding that effective governance is typically 18 months away.

According to Forrester, in its Predictions 2025: Artificial Intelligence report, 2025 will bring a renewed focus on strategy, deepened partnerships between business and IT, a pivot back to predictive AI, and new technologies and architectures as enterprises govern data and AI together.

“In 2023, the race to harness AI saw many experimenting, but a select group of pioneers emerged, transforming bold ideas into scalable realities,” said Nir Kaldero, Chief AI Officer, EPAM NEORIS. “These leaders see challenges as opportunities, regulations as non-negotiables and uncharted territories as spaces for innovation. The next phase of AI is not just experimentation but deployment at scale—focusing on enterprise-wide, high-impact use cases while continuing the effort to align people and culture, data and cloud and new processes to unlock true exponential business value.”

The report concludes that organizations must now align AI with their business objectives rather than adapting business goals to fit AI capabilities. Success in this new phase requires companies to evolve beyond implementing AI solely for productivity gains and operational efficiencies. To gain a competitive advantage, forward-thinking enterprises must leverage AI strategically across their entire value chain to drive revenue growth and enhance customer experience.

The full report includes detailed insights and practical recommendations for enterprises at different stages of their AI journey.

To read the full 2025 Artificial Intelligence Report, visit: www.epam.com/ai-report-2025.

Methodology

The data published in this report is based on a survey of 7,300 respondents from enterprises with headcounts of 10,000+ evenly split across the C-Suite and Vice President level as well as engineers and developers spanning nine countries (the U.S., Canada, the U.K., Germany, Switzerland, France, the Netherlands, Singapore and Argentina) and eight industries (financial services, life sciences and MedTech, education and business information services, energy, retail and consumer product goods, telco, media and entertainment, insurance, automotive and manufacturing). The survey was conducted between October 24, 2024 and December 3, 2024. Survey data was collected in partnership with Censuswide.

About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients’ transformation challenges by focusing EPAM Continuum’s integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients’ time to market and drive greater value from their innovations and digital investments.

We leverage AI and GenAI to deliver transformative solutions that accelerate our clients’ digital innovation and enhance their competitive edge. Through platforms like EPAM AI/RUN™ and initiatives like DIALX Lab, we integrate advanced AI technologies into tailored business strategies, driving significant industry impact and fostering continuous innovation.

We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people’s lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as Most Loved Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services.

Learn more at www.epam.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company’s most recent Annual Report on Form 10-K and the factors discussed in the Company’s Quarterly Reports on Form 10-Q, particularly under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/what-is-holding-up-ai-adoption-for-businesses-new-epam-study-reveals-key-findings-302429687.html

SOURCE EPAM Systems, Inc.

• Fans who wear a hockey jersey at participating restaurants on April 21, 2025, after 3:00pm local time can score a BUY-ONE-GET-ONE (BOGO) deal
• Chipotle and the National Hockey League (NHL) announce multiyear North American partnership extension
• As part of the partnership extension, Chipotle will be a National Hockey League Players’ Association (NHLPA) partner for the first time

NEWPORT BEACH, Calif.
, April 16, 2025 /PRNewswire/ — To celebrate the 2025 Stanley Cup® Playoffs, Chipotle Mexican Grill (NYSE: CMG) announced today a “Wear Your Hockey Jersey” program that will offer a BUY-ONE-GET-ONE (BOGO) deal on entrees to in-restaurant diners who wear a hockey jersey on Monday, April 21 after 3:00pm local time. The promotion is valid at all participating Chipotle restaurants in the U.S. and Canada.

See here for a Hockey Jersey BOGO promo video featuring some of Chipotle’s biggest athlete superfans: https://youtu.be/eKbblbnxMzA.  

“Our Hockey Jersey BOGO offer, back for the fifth consecutive year, has become a yearly tradition to kick off the Stanley Cup Playoffs and celebrate hockey fans in the U.S. and Canada,” said Chris Brandt, Chief Brand Officer at Chipotle.

Chipotle Extends NHL Partnership
Chipotle and the NHL announced today an extension of their multiyear North American partnership, maintaining Chipotle’s title as the official Mexican-themed quick service and fast-casual restaurant of the NHL. The Chipotle logo will be featured on the ice for every game during the Stanley Cup® Playoffs throughout the partnership.

As part of the extension, Chipotle will be an official partner of the National Hockey League Players’ Association (NHLPA) for the first time, enabling the brand to work with more NHL Players on future brand campaigns and content series. Chipotle became an official NHL partner in 2021.

“Extending our partnership with the NHL and adding the NHLPA will help us grow alongside this dynamic league,” said Brandt. “‘Chipper,’ as the hockey community likes to call Chipotle, is the premier restaurant destination for players and fans who are craving real food.” 

“We are excited to celebrate the success of our relationship with Chipotle and continue to engage our passionate fans and Chipotle consumers,” said Jason Jazayeri, NHL Group Vice President, Business Development. “Our extension will see a continued emphasis on collaboration with Chipotle to deliver unique and compelling fan promotions, creating new ways for our fans to interact with our great game.”

“We are thrilled to officially join Chipotle in this multiyear partnership with the NHL to activate and highlight players in Chipotle campaigns,” said Devin Smith, NHLPA Senior Director, Sponsorship and Player Marketing. “We’re looking forward to continuing to bring more players to the forefront as part of Chipotle marketing and advertising and working together with both the NHL and Chipotle to evolve and grow this partnership.”

The BUY-ONE-GET-ONE (BOGO) promotion is limited to five free menu items per check and is subject to availability. Each free item requires purchase of an entrée item of equal or greater value and may be collected only by the jersey-wearing customer. Valid only on April 21, 2025, after 3:00pm local time. Redeemable in-restaurant only, at participating U.S. and Canada Chipotle locations; not valid for catering, mobile, online or delivery orders. Kids’ meals do not count as an entrée purchase. Purchased entrées are eligible for Chipotle Rewards points; the promotion may not otherwise be combined with other coupons, promotions, or special offers. Additional restrictions may apply; void where prohibited. The NHL is not a sponsor of this offer.

NHL, the NHL Shield and the word mark and image of the Stanley Cup are registered trademarks, and the Stanley Cup Playoffs logo is a trademark of the National Hockey League. ©NHL 2025. All Rights Reserved.

NHLPA, National Hockey League Players’ Association and the NHLPA logo are registered trademarks of the NHLPA and are used under license. © NHLPA. All Rights Reserved.

ABOUT CHIPOTLE
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are over 3,700 restaurants as of December 31, 2024, in the United States, Canada, the United Kingdom, France, Germany, Kuwait, and United Arab Emirates and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit CHIPOTLE.COM.

ABOUT THE NHL
The National Hockey League (NHL), founded in 1917, consists of 32 Member Clubs. Each team roster reflects the League’s international makeup with players from more than 20 countries represented, all vying for the most cherished and historic trophy in professional sports – the Stanley Cup. Every year, the NHL entertains more than 670 million fans in-arena and through its partners on national television and radio; more than 191 million followers – league, team and player accounts combined – across Facebook, Twitter, Instagram, Snapchat, TikTok, and YouTube; and more than 100 million fans online at NHL.com. The League broadcasts games in more than 260 countries and territories through its rightsholders including ESPN, WBD Sports and NHL Network in the U.S.; Prime Video, Sportsnet and TVA Sports in Canada; and via SiriusXM NHL Network Radio™, Sports USA and TuneIn; and reaches fans worldwide with games available to stream in every country.

ABOUT THE NATIONAL HOCKEY LEAGUE PLAYERS’ ASSOCIATION

The National Hockey League Players’ Association, established in 1967, is a labor organization whose members are the players in the National Hockey League. The NHLPA works on behalf of the players in varied disciplines such as labor relations, product licensing, marketing, international hockey and community relations, all in furtherance of its efforts to promote its members and the game of hockey. In 1999, the NHLPA Goals & Dreams fund was launched as a way for the players to give something back to the game they love. Over the past 25 years, tens of thousands of deserving children in 40 countries have benefited from the players’ donations of hockey equipment. NHLPA Goals & Dreams has donated more than $26 million to grassroots hockey programs, making it the largest program of its kind. For more information on the NHLPA, please visit www.nhlpa.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/chipotles-hockey-jersey-bogo-offer-returns-in-the-us-and-canada-for-the-2025-stanley-cup-playoffs-302429937.html

SOURCE Chipotle Mexican Grill