Abaxx submits LNG futures contracts specifications and publishes whitepaper on physical commodities futures

TORONTO, Jan. 23, 2023 — Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software company, majority shareholder of Abaxx Singapore Pte. Ltd., the Abaxx Commodity Exchange (ACX), and producer of SmarterMarkets™ Media, announced that Abaxx Singapore Pte. Ltd.’s subsidiary, Abaxx Exchange Pte. Ltd., has submitted a Notification of Impending Listing of Futures Contracts to the Monetary Authority of Singapore.

Highlights:

  • Abaxx Exchange Pte. Ltd. submits LNG futures contract specifications for regulatory review
  • The initial portfolio of LNG futures contracts include North West Europe, North Asia Pacific and United States Gulf of Mexico benchmarks
  • Research and Commercial teams publish whitepaper, “Back to the Future(s): The Best Commodities Benchmarks Are Still Physically-Settled”

On January 20, 2023 Abaxx Exchange Pte. Ltd. submitted a Notification of Impending Listing of Futures Contracts to the Monetary Authority of Singapore. The futures contracts are designed to address the price discovery and risk management needs of energy market participants trading Liquified Natural Gas (LNG). Notice is required for all new products to be listed at launch and subsequently.

In collaboration with industry market participants, Abaxx identified opportunities to introduce a suite of 3 regional contracts including: North West Europe, North Asia Pacific and United States Gulf of Mexico. Abaxx Exchange contracts are designed for the dual commercial objectives of creating a large pool of liquidity for price discovery and risk transfer. The Abaxx contracts structure was determined at the conclusion of comprehensive deliberations with energy market participants.

Launch of the Recognized Market Operator and Approved Clearing House as well as the futures contracts intended to be listed by ACX remain subject to final regulatory approvals.

“Asia continues to be the fastest-growing demand center for energy products and we believe our choice to operate out of Singapore positions us strategically to be at the global hub of commodity trading while benefiting from its robust regulatory framework. By bringing together experienced market practitioners and leading-edge technologists, we want to support practical, market-based solutions to address the biggest challenges in global commodities trading. Ultimately, our vision is to architect Smarter Markets, characterized by greater price transparency, enhanced security and seamless settlement to support the markets critical for the energy transition,” remarked Nancy Seah, Managing Director of Abaxx Exchange.

The formative commercial thesis of Abaxx Exchange is that incumbent Exchanges and Clearinghouses have neglected the foundational tenets of commodity futures in relation to the risk management abilities afforded by physically settled markets. The commercial needs of the market are not currently being met. Benchmarks are vital to commodity markets in reflecting the values in the dynamics of production, storage and transport logistics.

On January 17, 2023, Abaxx Research and Commercial teams published a position whitepaper outlining the benefits of a global LNG benchmark with the option to complete a physical delivery transaction. This ability to be the “buyer or seller of last resort” enables market participants to have a more direct correlation and convergence with their waterborne LNG cargoes. Properly functioning benchmarks provide measurable metrics to compare the performance of commodities, supporting investors and traders in making informed decisions as well as providing a basis for setting prices and determining values of different commodities. Abaxx believes this important differentiator cannot be found in the financially-settled instruments that are currently being used in today’s global LNG markets.

The whitepaper is available to the public from the Abaxx.tech website in the Investor Relations section: https://www.investors.abaxx.tech/back-to-the-futures-the-best-commodities-benchmarks-are-still-physically-settled

“This is another step in the direction of providing key benchmark contracts required for precise, orderly and transparent pricing of crucial energy transition commodities,” said Dan McElduff, President, Strategy & Development, of Abaxx Singapore. “We have confidence in our approach to development which requires deep industry engagement with a diverse and capable array of market participants. Successful markets thrive on depth and diversity which is true in most things in life. It’s time for the LNG market to progress to the next level of liquidity which can only be achieved with an effective futures market.”

About Abaxx Technologies

Abaxx is a development stage financial software company creating proprietary technological infrastructure for both global commodity exchanges and digital marketplaces. The company’s formative technology increases transaction velocity, data security and facilitates improved risk management in the majority owned Abaxx Singapore Pte. Ltd. (“ACX”, or “Abaxx.Exchange”) – a commodity futures exchange seeking final regulatory approvals as a Recognized Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”). Abaxx is a founding shareholder in Base Carbon Corp. and the creator and producer of the SmarterMarkets™ podcast. For more information please visit abaxx.tech, abaxx.exchange and SmarterMarkets.media

Media and investor inquiries:

Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech

Forward-Looking Statements

This News Release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx or the Company’s future plans, objectives or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Abaxx’ objectives, goals or future plans, statements, timing of the commencement of operations and estimates of market conditions. Such factors include, among others: risks relating to the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third party risk; clearinghouse risk, malicious actor risks, third-party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains. Abaxx has also assumed that no significant events occur outside of Abaxx’ normal course of business.

Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. When relying on Abaxx forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Abaxx does not undertake to update this information at any particular time except as required in accordance with applicable laws. The NEO Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Establishment of a lithium exploration subsidiary in Australia

Deutsche Rohstoff AG and its Australian partner SensOre have established the Australian subsidiary Exploration Ventures AI Pty Ltd.

Joint Venture with SensOre/Focus on Western Australia

Mannheim, 23. January 2023 Deutsche Rohstoff AG and its Australian partner SensOre (ASX: S3N) have established the Australian subsidiary Exploration Ventures AI Pty Ltd (“EXAI”). The company is focused on the exploration of lithium in Western Australia. Deutsche Rohstoff AG will hold a 70% share in the company. Since formation, EXAI has already secured three early-stage exploration projects through three Farm-in agreements and one exploration license application.

Since early 2022, SensOre and Deutsche Rohstoff AG had identified particularly prospective targets based on SensOre’s technology. The approach combines artificial intelligence (AI) technology, big data and comprehensive geoscientific know-how. With this approach, SensOre aims to become a global leader in minerals targeting.

The focus is on Western Australia (“WA”), as the state is not only one of the world’s most active and successful mining regions, but also currently accounts for approximately 90% of the lithium mined from hard rock. In addition to the world’s largest lithium (spodumene) mine, the Greenbushes Mine in the southwestern part of the state, other projects have begun production in recent years and new deposits have been discovered. Thus, the successful identification of a lithium deposit in WA holds tremendous potential.

The three projects identified to date are very promising from the perspective of the EXAI Joint Venture, but additional potential targets are being evaluated in parallel and possibly acquired. In the context of early-stage exploration, an initial small investment is common, after which a decision is made as to which projects will be pursued and which lack sufficient prospectivity.

Exploration expenditures for the initial Farm-ins amount to approximately AUD 1 million (EUR 0.64 million) in the first 12 to 18 months after successful due diligence, which will be spent mainly on initial geological and geophysical exploration work. The share of Deutsche Rohstoff AG in these expenditures amounts to 70% in accordance with the share in EXAI. With positive results and indications, a decision will be made on a drilling program for individual projects. Under the three Farm-in agreements and with positive results, the Joint Venture could invest about AUD 10 million (EUR 6.5 million) over the next 4 to 4.5 years to acquire a 51-80% interest in the projects.

The two Farm-ins include the Gecko North project about 60 km Northwest of the Mt Marion lithium mine as well as parts of the Montague project about 100 km west of the Kathleen Valley lithium deposit. In addition, the Joint Venture has submitted a wholly-owned exploration application for the Bowgarder Well license in the western Yilgarn Craton approximately 300 km North of the city of Perth.

Lithium represents an indispensable component in current battery technologies. Therefore, even in more conservative scenarios for the electric car sector, massive additional demand for lithium is expected. The price for the most common lithium mining product, spodumene concentrate (SC6), has increased since 2020 from around 500 USD/ton to currently around 6,000/USD per ton. Deutsche Rohstoff AG sees the Joint Venture with SensOre as a unique opportunity to participate in this exciting market and to find economically interesting lithium deposits.

Mannheim, 23. January 2023

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold and tungsten round off the portfolio. Further information is available at www.rohstoff.de

Contact

Deutsche Rohstoff AG

Phone +49 621 490 817 0

info@rohstoff.de

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Broadwind Announces Transformational Two-Year, $175 Million Wind Tower Order With Global Wind Turbine Manufacturer

Broadwind Announces Transformational Two-Year, $175 Million Wind Tower Order With Global Wind Turbine Manufacturer

CICERO, Ill., Jan. 10, 2023 — Broadwind (NASDAQ: BWEN, or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced receipt of approximately $175 million in new tower orders from a leading global wind turbine manufacturer.

Fulfillment of the new order will occur during the full year 2023 and conclude by the end 2024. Ordered tower sections will be produced at both the Company’s Abilene and Manitowoc facilities.

NEW ORDER HIGHLIGHTS

  • Transformational order reflects continued execution of business development strategy.   During the last three years, Broadwind has pursued an aggressive development strategy designed to both increase its share-of-wallet with existing customers, while expanding into complementary adjacent markets – and new customer relationships. This expansion further leverages its proven precision manufacturing expertise, as evidenced by its continuing customer and market diversification during this period. This order, which is the largest-ever received from this OEM customer, reflects the successful expansion of this customer relationship that is expected to scale, over time.
  • Order secures significant production capacity over multi-year period. The two-year order secures approximately 50% of optimal tower production capacity across Broadwind’s facilities in 2023 and 2024. This order is anticipated to further optimize plant utilization over the near-to-medium term, and facilitate improved economies of scale, liquidity and financial performance, versus the prior-year period.
  • Order carries favorable economics, including the benefit of federal tax credit.   The Inflation Reduction Act (IRA) passed into law in 2022 provides critical industries, including those supporting the energy transition, with tax credits designed to accelerate a generational shift in the energy production mix from fossil fuels toward renewable energy, including wind.   Included within section 45x of the IRA is a provision for a new advanced manufacturing tax credit for which this order qualifies.

MANAGEMENT COMMENTARY

“This transformational new tower order is an historic accomplishment for our entire team, one that further establishes Broadwind as the leading precision manufacturer of heavy fabrications advancing the global energy transition,” stated Eric Blashford, President and CEO of Broadwind. “This important win will support a balanced production schedule over the next two years, materially increase system-wide facility utilization, and drive improved economies of scale across our organization.”

“Importantly, this new order will more than double our current total backlog, when compared to the backlog level reported at the end of the third quarter 2022,” continued Blashford. “Further, when adding in the benefit of the advanced manufacturing credit afforded by the IRA, this order will carry a favorable margin profile, one supportive of our strategic focus on profitable growth.”

“We anticipate that our tower order book will continue to fill throughout 2023, as raw materials prices and supply chain conditions further normalize, and development activity gradually improves,” concluded Blashford. “Importantly, while installation activity within the domestic onshore wind market has not yet returned to 2020 levels, orders such as this will position Broadwind to outpace growth within the broader market, particularly as we further consolidate share across leading global customers who value our domestic manufacturing base, skilled labor force and commitment to quality. We look forward to building on the momentum evident across our business, while continuing to drive long-term value creation for our shareholders in the year ahead.”

ABOUT BROADWIND

Broadwind (NASDAQ: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com

FORWARD-LOOKING STATEMENTS

This release contains “forward looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. Forward looking statements include any statement that does not directly relate to a current or historical fact. We have tried to identify forward looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward looking statements.

Our forward-looking statements may include or relate to our beliefs, expectations, plans and/or assumptions with respect to the following, many of which are, and will be, amplified by the COVID-19 pandemic: (i) the impact of global health concerns, including the impact of the current COVID-19 pandemic on the economies and financial markets and the demand for our products; (ii) state, local and federal regulatory frameworks affecting the industries in which we compete, including the wind energy industry, and the related extension, continuation or renewal of federal tax incentives and grants and state renewable portfolio standards as well as new or continuing tariffs on steel or other products imported into the United States; (iii) our customer relationships and our substantial dependency on a few significant customers and our efforts to diversify our customer base and sector focus and leverage relationships across business units; (iv) the economic and operational stability of our significant customers and suppliers, including their respective supply chains, and the ability to source alternative suppliers as necessary, in light of the COVID-19 pandemic; (v) our ability to continue to grow our business organically and through acquisitions, and the impairment thereto by the impact of the COVID-19 pandemic; (vi) the production, sales, collections, customer deposits and revenues generated by new customer orders and our ability to realize the resulting cash flows; (vii) information technology failures, network disruptions, cybersecurity attacks or breaches in data security, including with respect to any remote work arrangements implemented in response to the COVID-19 pandemic; (viii) the sufficiency of our liquidity and alternate sources of funding, if necessary; (ix) our ability to realize revenue from customer orders and backlog; (x) our ability to operate our business efficiently, comply with our debt obligations, manage capital expenditures and costs effectively, and generate cash flow; (xi) the economy, including its stability in light of the COVID-19 pandemic, and the potential impact it may have on our business, including our customers; (xii) the state of the wind energy market and other energy and industrial markets generally and the impact of competition and economic volatility in those markets; (xiii) the effects of market disruptions and regular market volatility, including fluctuations in the price of oil, gas and other commodities; (xiv) competition from new or existing industry participants including, in particular, increased competition from foreign tower manufacturers; (xv) the effects of the change of administrations in the U.S. federal government; (xvi) our ability to successfully integrate and operate acquired companies and to identify, negotiate and execute future acquisitions; (xvii) the potential loss of tax benefits if we experience an “ownership change” under Section 382 of the Internal Revenue Code of 1986, as amended; (xviii) our ability to utilize various relief options enabled by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act); (xix) the limited trading market for our securities and the volatility of market price for our securities; and (xx) the impact of future sales of our common stock or securities convertible into our common stock on our stock price. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements including, but not limited to, those set forth under the caption “Risk Factors” in Part I, Item 1A of our most recently filed Form 10-K and our other filings with the Securities and Exchange Commission. We are under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause our current beliefs, expectations, plans and/or assumptions to change. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results.
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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.


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