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UNIFI^®, Makers of REPREVE^®, Provides Business Update and Schedules Second Quarter Fiscal 2023 Earnings Conference Call

Demand trends across apparel producers continue to weigh on near-term operating performance

GREENSBORO, N.C.–(BUSINESS WIRE)–
Unifi, Inc. (NYSE: UFI) (together with its consolidated subsidiaries, “UNIFI”), makers of REPREVE and one of the world’s leading innovators in recycled and synthetic yarns, today announced preliminary results for its second fiscal quarter ended January 1, 2023 and scheduled its second quarter fiscal 2023 earnings conference call.

For the second quarter of fiscal 2023, UNIFI expects:

• Net sales between $135 million and $137 million, a decrease of approximately 24% to 25% from the first quarter of fiscal 2023, compared to the previous expectation of a 10% to 15% decrease;
• Negative gross margin between (5.5%) and (6.5%);
• Operating loss between $19.0 million and $21.0 million;
• Loss before income taxes between $20.0 million and $22.0 million; and
• Adjusted EBITDA between ($12.0) million and ($14.0) million, compared to the previous expectation of between $0.0 million and ($5.0) million.

Eddie Ingle, Chief Executive Officer of UNIFI, said, “Our business continued to face a difficult operating environment in the second fiscal quarter, and our results for the period are a reflection of continued demand disruption from inventory destocking and slowed global apparel production, which has been influenced by, among other things, the impact of COVID-19 in China. This weaker-than-expected demand has been prevalent across our apparel customers as they work through a normalization in their supply chains and aim to reduce excess inventories. In response to these temporary challenges, we executed a number of cost controls, and other savings measures are ongoing. In addition, we are benefiting from the additional liquidity afforded by our credit facility that we previously announced was amended, expanded and extended on October 28, 2022.”

Ingle continued, “As we look forward, the mid- and long-term drivers of our business remain intact. We expect to see improvements in volumes and operating performance as we move through calendar 2023 and customer ordering patterns begin to normalize. We should also experience improved performance and efficiencies across the business as a result of various cost saving measures currently in effect, along with stabilized raw material input costs. Our global business model and the long-term demand for sustainable solutions remains unchanged.”

The preliminary, unaudited information contained herein remains subject to confirmation and finalization based on UNIFI’s quarter-end closing procedures, including the execution of internal controls over financial reporting and the subsequent occurrence or identification of events prior to the formal issuance of the quarterly financial statements.

UNIFI Schedules Second Quarter Fiscal 2023 Earnings Conference Call

UNIFI will host a conference call at 8:30 a.m., Eastern Time, on Thursday, February 2, 2023, to discuss its second quarter fiscal 2023 financial results. The second quarter fiscal 2023 financial results and supporting materials will be available after the close of market trading on Wednesday, February 1, 2023 on UNIFI’s website at http://investor.unifi.com. The conference call can be accessed approximately 10 minutes prior to the beginning of the call by dialing (800) 715-9871 (Domestic) or (646) 307-1963 (International) and, when prompted, providing conference ID number 1094008. There will also be a live audio webcast of the call, which can be accessed on UNIFI’s website at http://investor.unifi.com. A replay of the conference call will be available approximately two hours following the call through Thursday, February 9, 2023 and can be accessed via UNIFI’s website at http://investor.unifi.com. In addition, presentation slides will be available on UNIFI’s website for 12 months following the call.

About UNIFI

Unifi, Inc. (NYSE: UFI) is a global textile solutions provider and one of the world’s leading innovators in manufacturing synthetic and recycled performance fibers. Through REPREVE, one of UNIFI’s proprietary technologies and the global leader in branded recycled performance fibers, UNIFI has transformed more than 35 billion plastic bottles into recycled fiber for new apparel, footwear, home goods, and other consumer products. UNIFI continually innovates technologies to meet consumer needs in moisture management, thermal regulation, antimicrobial protection, UV protection, stretch, water resistance, and enhanced softness. UNIFI collaborates with many of the world’s most influential brands in the sports apparel, fashion, home, automotive, and other industries. For more information about UNIFI, visit www.unifi.com.

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Davis Snyder

Alpha IR Group

312-445-2870

[email protected]

KEYWORDS: United States North America North Carolina South Carolina

INDUSTRY KEYWORDS: Environment Textiles Chemicals/Plastics Manufacturing Home Goods Fashion Footwear Retail Recycling

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Swiss Public Cloud Market Grows as Hyperscalers Expand

Widespread use of the cloud and rising interest in industry-specific services help make Switzerland an attractive market for global giants, ISG Provider Lens™ report says

ZÜRICH–(BUSINESS WIRE)–
A growing number of enterprises in Switzerland are moving their IT workloads to hyperscalers’ public cloud infrastructures as they recognize the value of the cloud for achieving their business goals, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for Switzerland finds that all but 5 percent of companies in Switzerland have used some cloud services. Unregulated industries are the leading adopters of hyperscaler public cloud infrastructure, ISG says.

“The COVID-19 pandemic made organizations everywhere recognize the importance of a strong, flexible IT infrastructure,” said Uwe Ladwig, managing director, ISG Switzerland. “The sudden need to support new work modes and digital experiences, while ensuring high availability, set off an ongoing trend toward the cloud.”

Competition among cloud providers in Switzerland is increasing as global hyperscalers enter the market and introduce services aimed at the country’s large financial sector, ISG says. With Google and Microsoft establishing more data centers in Switzerland and AWS preparing to launch, traditional hosting service providers face significant rivals. However, many organizations that want to ensure that their data stays in Switzerland still rely on regional providers, which have offerings similar to the hyperscalers’ portfolios.

Companies of all sizes and sectors in Switzerland are also increasingly interested in infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) for rapid application development and greater flexibility, scalability and security, the report says. Demand is also growing for industry-specific PaaS and software-as-a-service (SaaS) offerings.

“Switzerland is an important market for all three of the major hyperscalers,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “They continue to expand the range of functions and services they offer to Swiss customers.”

Many large enterprises in Switzerland that are migrating to public clouds are engaging with consulting and transformation service providers for help with tasks such as workload assessment, change management and integration, partly due to a shortage of qualified specialists in these areas, ISG says. Midsize organizations tend to prefer locally active providers that are steeped in knowledge about the local operating environment and data protection laws, which allows them to build appropriate frameworks for workload migration.

The report also examines other trends in the Swiss public cloud market, including a growing willingness to move SAP workloads to the cloud and the effect of sustainability goals on companies’ public cloud choices.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for Switzerland evaluates the capabilities of 65 providers across six quadrants: Consulting and Transformation Services for Large Accounts, Consulting and Transformation Services for Midmarket, Managed Public Cloud Services for Large Accounts, Managed Public Cloud Services for Midmarket, Hyperscale Infrastructure and Platform Services, and SAP HANA Infrastructure Services.

The report names Swisscom as a Leader in all six quadrants. Aveniq is named as a Leader in four quadrants, and ti&m and UMB are named as Leaders in three quadrants each. Accenture, Atos, AWS, Capgemini, Google, Microsoft and Wipro are named as Leaders in two quadrants each. BitHawk, DXC Technology, IBM, itesys, Kyndryl, Netcloud and T-Systems are named as Leaders in one quadrant each.

In addition, Nordcloud is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants. Claranet is named as a Rising Star in one quadrant.

A customized version of the report is available from ti&m.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for Switzerland is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005309/en/

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Philipp Jaensch, ISG

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Matthias Longo, Palmer Hargreaves for ISG

+49 152 341 464 63

[email protected]

KEYWORDS: Switzerland Europe

INDUSTRY KEYWORDS: Mobile/Wireless Technology Security Consulting Professional Services Software Networks Data Analytics Data Management IOT (Internet of Things)

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Digi International Launches Digi ConnectCore^® Services, Offering Software Foundation that Enables Manageability and Security of Digi ConnectCore Family of SOMs

Digi ConnectCore^® Cloud Services and Digi ConnectCore^® Security Services enable OEMs to create highly manageable and secure IoT applications while improving product quality, technical support, and customers’ experience with connected devices

ConnectCore^® MP15 system-on-module, leveraging STM32MP157C microprocessor from STMicroelectronics, now available in developer kits

HOPKINS, Minn.–(BUSINESS WIRE)–
Digi International (NASDAQ: DGII, www.digi.com), a leading global provider of Internet of Things (IoT) solutions, connectivity products, and services, today launched two Digi ConnectCore^® software service offerings – Digi ConnectCore^® Cloud Services and Digi ConnectCore^® Security Services. The offerings provide greater manageability and security for devices developed with Digi’s complete line of ConnectCore system-on-modules (SOMs).

Today’s OEMs – and their customers – need end-to-end hardware/software solutions to actively manage their device portfolios, gather data from devices in the field and deliver real-time updates and security patches as needed. Digi ConnectCore Cloud Services deliver the manageability they need to enable secure, over-the-air (OTA) software updates, access device data, and perform remote diagnostics, command and control. Digi ConnectCore Cloud Services also provide API access enabling custom applications and remote dashboards empowering OEMs to create innovative customer service plans.

Digi ConnectCore Security Services enable OEMs to maintain the security of products during their entire lifecycle and empower device makers to solve the ongoing challenge of keeping products secure after release. The services include the analysis and monitoring of a custom software bill of material (SBOM) and binary image running on Digi ConnectCore SOMs for security risks and vulnerabilities. To help remediate identified issues, the services provide a curated vulnerability report highlighting critical concerns, a security software layer including patches for common vulnerabilities, and consulting services.

Together, the two services provide a comprehensive software foundation that, in conjunction with Digi’s family of ConnectCore system-on-modules, enable OEMs to deliver highly secure, connected IoT products with increased product quality, improved technical support, and a stronger end-customer experience. Both Digi ConnectCore services support the entire family of Digi ConnectCore systems-on-modules.

Digi, an ST Authorized Partner, also announced the general availability of its Digi ConnectCore MP157 system-on-module (SOM), which leverages the STMicroelectronics STM32MP157C microprocessor and has a fully integrated dual-band Wi-Fi/BT interface. Now available in developer kits from Digi’s global channel partners, the tiny ConnectCore MP15 is ideal for handheld products with cameras and/or displays such as medical devices, environmental test equipment, industrial-grade human machine interfaces, or headless devices such as EV charging stations and renewable-energy controllers. By addressing the need to build intelligent, connected, and secure wireless products for healthcare, transportation, and industrial sectors, Digi ConnectCore MP1 SOMs offer unparalleled flexibility and scalability. The highly integrated solution includes a complete set of development tools, design support, software, and security building blocks to speed time to market.

“Digi ConnectCore Services continue our mission to reduce the complexity OEMs are facing with implementing full end-to-end industrial IoT solutions and simplify device security and management for our customers,” said Andreas Burghart, Senior Product Manager for Digi’s Embedded division. “The combination of innovative SOM hardware and software, cloud-based services, and comprehensive security improve our customers’ ability to deliver and manage secure, cost-effective solutions and extend our leadership in embedded systems.”

“Using the Digi ConnectCore MP1 SOM with integrated wireless capabilities reduces the design complexity significantly for OEMs, especially for companies that have designed products using the STM32 microcontroller portfolio,” said Jean-Philippe Moreno, Product Marketing Manager, STMicroelectronics. “For developers now moving into the higher performance microprocessor space, the Digi SOM solution reduces the risk significantly and helps to make this transition.”

For more information, visit Digi at the STMicroelectronics booth #447 at the IoT Solutions World Congress, Jan. 31–Feb. 2, 2023.

About Digi International

Digi International (NASDAQ: DGII) is a leading global provider of IoT connectivity products, services, and solutions. It helps companies create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, Digi has helped customers connect more than 100 million things and counting. For more information, visit www.digi.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005014/en/

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Peter Ramsay

Global Results Communications

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949.307.5908

KEYWORDS: Europe United States North America Minnesota

INDUSTRY KEYWORDS: Mobile/Wireless Technology Security Software Networks Internet Hardware Electronic Design Automation IOT (Internet of Things) Consumer Electronics

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Charles River Associates (CRA) Expands Its Risk, Investigations & Analytics Practice

BOSTON–(BUSINESS WIRE)–Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced that Alexandra Knatchbull will join the company’s Risk, Investigations & Analytics Practice as a vice president in its London office, starting January 30, 2023.

“Alexandra is an exceptional and well-respected investigative professional whom we have long sought to have join CRA,” said Paul Maleh, CRA’s Chairman and Chief Executive Officer. “Together with a seasoned team of multi-disciplinary data analytics and forensic accounting professionals, she will help us assist clients in solving their most complex legal and business challenges.”

“Our team looks forward to working with Alexandra as she leads our investigative efforts in Europe and the growth of our practice in the region now and into the future,” said Peter Nolan, co-leader of CRA’s Risk, Investigations & Analytics Practice. “In addition to her wealth of dispute resolution experience, she has expertise in fraud and anti-corruption work, risk management and specialist investigations.”

Alexandra was previously a forensic investigator and intelligence and investigations advisor at a UK law firm. She has more than 15 years of diverse experience in the fields of dispute resolution, business intelligence and risk management, working worldwide on complex intelligence-gathering and investigative matters.

Outside her professional career Alexandra is active in a range of philanthropic causes. She is a trustee of two UK foundations which make grants to grassroots organizations and a member of the Mercers’ Company, the City of London livery company.

Alexandra holds a Bachelor of Arts from Oxford University and a Master of Arts in Security Studies from the School of Foreign Service at Georgetown University. She is a Certified Fraud Examiner (CFE, as designated by the Association of Certified Fraud Examiners) and has been recognized for her pre-transactional advisory work by Chambers and Partners.

About CRA’s Risk, Investigations & Analytics Practice

CRA’s global Risk, Investigations & Analytics Practice provides integrated, expertise-led solutions designed to assist clients better understand, address and resolve their most complex and critical legal and business challenges.

Our team of multidisciplinary professionals, drawn from government and industry, focuses on helping governments, clients, and counsel mitigate and manage legal, reputational, and commercial risk, resolve complex legal and business disputes, and make better and more well-informed decisions by surfacing facts, providing relevant context, and leveraging deep subject matter expertise and analytic tool sets globally.

About Charles River Associates (CRA)

Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Twitter, and Facebook.

SAFE HARBOR STATEMENT

Statements in this press release concerning the addition of Alexandra Knatchbull, the Company’s Risk, Investigations & Analytics Practice, and future business Alexandra Knatchbull may generate for CRA, are “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by CRA include, among others: the failure to generate engagements for us; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition. Additional potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including those under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance, or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005865/en/

Media Relations

CRA International

[email protected]

617-425-6453

Nicholas Manganaro

Sharon Merrill Associates, Inc.

[email protected]

617-542-5300

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Consulting Legal Professional Services Finance

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Enterprises in the Nordics Are Warming Up to Public Clouds

More companies and agencies in the highly wired region are pursuing transformative cloud migrations that include application modernization, ISG Provider Lens™ report says

STOCKHOLM–(BUSINESS WIRE)–
A growing number of large and midmarket enterprises in the Nordics are migrating to public clouds, attracted by new features, including FinOps capabilities, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics finds that companies and public agencies in the region, already more mature than most in terms of cloud computing, increasingly see public clouds as preferable to existing IT environments, such as private clouds, for cost, compliance and other reasons. Interest in moving workloads to public clouds is growing as several large enterprises accelerate digital transformations.

“Companies in the Nordics now consider public cloud a strong, viable option,” said Alexandra Classen, partner, technology modernization, at ISG. “Concerns about security and financial controls are fading as providers introduce features and platforms to address them.”

Organizations that were wary of moving all their workloads to a public hyperscaler’s cloud can now choose hybrid and multi-cloud configurations that let them use multiple services under a single management platform, the report says. This prevents dependence on one provider and offers more flexible capabilities.

There is strong demand in the Nordics, including in the public sector, for transformative cloud migrations that include application modernization, opening up the possibilities for re-engineering IT to meet business requirements, ISG says. These projects are powering greater use of cloud consulting and transformation services, which in turn heightens the ongoing challenge that providers face in recruiting and retaining skilled and experienced consultants.

The many low-latency network connections in the Nordics, including links to major European hubs such as London and Amsterdam, allow companies to access and operate cloud-based applications from almost anywhere, ISG says.

“Strong connectivity options, combined with many low-cost sources of energy, make the Nordics an attractive region for owning or using data centers,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research.

Companies in the Nordics can also choose from a growing number of public cloud providers, the report says. Several new hyperscalers, including Alibaba Cloud, Tencent, IBM Cloud and Oracle Cloud, are emerging as alternatives to the traditionally dominant AWS, Microsoft Azure and Google Cloud.

The report also explores several other public cloud trends in the Nordics, including steadily growing demand for SAP S/4HANA services on public clouds and strong partnerships between service providers and major hyperscalers and technology companies.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics evaluates the capabilities of 50 providers across six quadrants: Consulting and Transformation Services for Large Accounts, Consulting and Transformation Services for Midmarket, Managed Public Cloud Services for Large Accounts, Managed Public Cloud Services for Midmarket, Hyperscale Infrastructure and Platform Services, and SAP HANA Infrastructure Services.

The report names Tietoevery as a Leader in four quadrants and Sopra Steria as a Leader in three quadrants. It names Accenture, AWS, Capgemini, CGI, Fujitsu, Google, HCLTech, LTI, Microsoft, Orange Business Services, TCS, Tech Mahindra and Wipro as Leaders in two quadrants each. IBM, Kyndryl, NNIT and Nordcloud are named as Leaders in one quadrant each.

In addition, Atos, Infosys, N-iX and Tech Mahindra are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005231/en/

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Will Thoretz, ISG

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Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

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INDUSTRY KEYWORDS: Mobile/Wireless Technology Finance Fintech Consulting Professional Services Software Networks Data Analytics IOT (Internet of Things)

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Vertical Aerospace Progresses Launch Plans in Japan With Asia’s First eVTOL Delivery Slot Reservation Fee From Marubeni Corporation

• Vertical’s customers are progressing plans for safer, greener, easier flight in Japan’s cities and regions by the mid 2020s

• Marubeni is making a pre-delivery payment to Vertical to reserve early delivery slots for the first 25 out of 200 VX4 conditional pre-orders

• Japan will be a major eVTOL opportunity given the market potential and focus on innovative future flight on the back of the 2025 Osaka World Expo

• Marubeni has already conducted proof-of-concept (POC) demonstration trials for Urban Air Mobility (UAM) services in Osaka

LONDON–(BUSINESS WIRE)–
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces that it has secured a pre-delivery payment for the reservation of aircraft delivery slots from its existing customer, the leading Japanese trading and investment conglomerate, Marubeni Corporation [Marubeni].

Following the joint working group partnership with Vertical, Marubeni has reserved aircraft delivery slots for 25 out of its up to 200 VX4 conditional pre-orders and becomes Vertical’s first customer in Asia to make a pre-delivery payment.

Marubeni’s commitment further reinforces Japan’s potential as a key launch market for Advanced Air Mobility [AAM] and over recent months, Marubeni has also conducted proof-of-concept (POC) demonstration trials in preparation for the Osaka World Expo 2025. Marubeni conducted flights from Osaka heliport to Wakayama using existing helicopters at future expected AAM service prices. Throughout the trials, Marubeni began addressing public awareness, acceptance, and requirements for future eVTOL services in the prefecture.

Vertical and Marubeni previously announced a partnership in September 2021 for conditional pre-order options of up to 200 aircraft, and joint evaluation of the requirements for eVTOL aircraft operations in Japan, as well as commercial considerations such as route and network planning and infrastructure requirements.

Stephen Fitzpatrick, Vertical Founder and CEO, said “We are delighted to have reached the next milestone in our partnership with Marubeni. Japan is a wonderful country which is embracing the promise of eVTOL, as it will connect cities and regions like never before. We look forward to our joint efforts to build the ecosystem for zero-emissions travel in Japan.”

Satoshi Takechi, General Manager, Aviation, Space & Defense Dept. said “We are proud to have taken another major step with Vertical Aerospace to introduce VX4 in Japan. I am confident that our continued joint efforts with Vertical Aerospace, such as evaluating the requirements for eVTOL operations and engaging the potential partners under the Joint Working Group, together with this new agreement, will accelerate the development of the AAM market in Japan. Marubeni will further enhance activities to materialize our business, which aims to make air travel more accessible and convenient, while simultaneously contributing to climate change mitigation measures, including low-carbon and decarbonization initiatives.”

-Ends-

About Vertical Aerospace

Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book by value for more than 1,400 aircraft from global customers creating multiple potential near term and actionable routes to market. Customers include American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.

Having been issued with its Permit to Fly from the UK’s Civil Aviation Authority in September 2022, Vertical’s VX4 prototype has successfully undertaken piloted flight tests. The flight test programme will continue over the coming months, reaching higher altitudes and speeds, as well as demonstrating the transition from vertical to horizontal flight.

Vertical’s ordinary shares and warrants commenced trading on the NYSE in December 2021 under the tickers “EVTL” and “EVTLW,” respectively.

About the VX4 eVTOL Aircraft

The VX4 is projected to be capable of transporting a pilot and up to four passengers, traveling distances of 100 miles, and achieving top speeds of over 200 miles per hour, while producing minimal noise and zero operating emissions. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com

Vertical Media Kit

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Forward-Looking Statements

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For more information:

Vertical Media

Harry Roxburgh

[email protected]

+44 7814 372664

Vertical Investors

Eduardo Royes

[email protected]

+1 646 200 8871

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ICL Invests in Breakthrough Sustainable Protein Ingredients Startup Arkeon

Companies partnering to develop CO₂-derived protein ingredients for food applications, using Arkeon’s carbon conversion process

TEL AVIV, Israel–(BUSINESS WIRE)–ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced its AgriFood innovation and investment platform, ICL Planet Startup Hub, has invested €2.75 million in Arkeon, GmbH. The investment will support Arkeon’s innovative and sustainable one-step fermentation bioprocess, which creates completely customizable protein ingredients by capturing the greenhouse gas carbon dioxide (CO₂) and converting it into the 20 proteinogenic amino acids necessary for human nutrition. The resulting alternative proteins are carbon negative and clean-label functional ingredients.

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Arkeon’s patented process pioneered the harnessing of carbon dioxide to make protein – through the use of archaea, a highly resilient single-celled microorganism – without genetic engineering. Archaea, part of the microbiota of all organisms, naturally feeds on CO₂ and transforms these environmental emissions into nutritious protein – meaning the process is not just sustainable, it is also regenerative.

“I dedicated much of the past decade to exploring new and sustainable biotechnological methods of alternative protein production,” said Gregor Tegl, PhD, co-founder and CEO of Arkeon. “Our team has harnessed proficiencies in microbiology and gas fermentation to create an entirely new regenerative food-production system. ICL’s support and partnership will be instrumental in helping us scale our archaea-derived protein production capabilities.”

“Arkeon has achieved a major breakthrough, by finding a way to nourish people and revitalize our ecosystems at the same time,” said Hadar Sutovsky, vice president of External Innovation at ICL, and general manager of ICL Planet. “Arkeon’s dedication to developing a renewable and easy to use protein is completely in-line with our organization’s commitment to creating impactful solutions for humanity’s sustainability challenges in the global food markets.”

“Although a young company, Arkeon brings to the table innovative and sustainable technology for use in creating the next generation of alternative protein products. They also fully align with ICL Food Specialties growth strategy of pursuing new frontiers in unique and functional alternative proteins,” added Rado Sporka, vice president of the Food Specialties Commercial Business for ICL. “As an established corporation, we are able to offer our advanced infrastructure, extensive experience and accrued insights, plus market and regulatory related support. We look forward to working with this promising start-up to unlock a whole new food category based on Arkeon’s unique protein discovery, which is not dependent on land and requires minimal use of water, providing it with a limited ecological footprint.”

ICL is leading the current SAFE investment round, which totals more than €4 million and includes other investors, as well. As the newest portfolio member of ICL’s Planet Startup Hub, Arkeon will have full access to the ICL Food Specialties state-of-the-art R&D labs and production facilities. Arkeon marks ICL’s third investment over the past 12 months, via its Planet Startup Hub, which the company launched in 2021. The accelerator was established to nurture and advance both early stage and pilot-ready innovative companies operating within the FoodTech and AgriTech domains.

About ICL

ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity’s sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company’s growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,500 people worldwide, and its 2021 revenues totaled approximately $7 billion.

For more information, visit ICL’s website at www.icl-group.com.

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About Arkeon GmbH (Arkeon)

Arkeon is an ingredients company, based in Vienna, Austria, leveraging the power of ancient microbes to convert CO2 directly into protein ingredients. The company’s proprietary technology is a new, innovative approach to produce amino acids and functional peptides for food and lifestyle products, enabling a regenerative way to nourish people on a global scale. The company’s technological foundations have been built up over a decade of research by Co-Founders Dr. Simon Rittmann, Dr. Guenther Bochmann, and Dr. Gregor Tegl.

For more information, visit www.arkeon.bio.

Press information available at [email protected] and arkeon.bio/press.

Forward Looking Statements

This announcement contains statements that constitute forward‑looking statements, many of which can be identified by the use of forward‑looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.

Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.

Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

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