Category Archives: News

Altair Semiconductor Integrates Iridium NTN Direct into ALT1350 and ALT1550 Cellular IoT Chipsets

MCLEAN, Va., Oct. 14, 2026 /PRNewswire/ — Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, aircraft surveillance, and positioning, navigation, and timing (PNT) satellite services, today announced that Altair Semiconductor, a world leader in cellular IoT chips, is integrating Iridium NTN Direct^℠ capability into Altair’s ALT1350 and next-generation ALT1550 IoT chipset platforms. With terrestrial cellular IoT and Iridium satellite connectivity on a single chipset, device manufacturers, module makers and mobile network operators (MNOs) will be able to extend IoT connectivity beyond the reach of terrestrial networks through the Iridium satellite network, without adding a separate satellite modem to their designs.

The partnership combines Altair’s cellular IoT chipset technology, among the most highly integrated low-power connectivity solutions available, with Iridium’s 3GPP standards-based non-terrestrial network (NTN) service, giving device manufacturers another chipset option for products that need connectivity beyond terrestrial cellular coverage. With the ultra-low-power ALT1350, these connectivity requirements can include asset tracking, logistics, smart metering and utilities, agriculture, vehicle telematics, industrial monitoring and remote infrastructure. With the ALT1550, these capabilities extend to a new generation of AI-powered 5G eRedCap devices, such as smart glasses, AI assistants and other wearables, that need to stay connected wherever they go.

“Altair has deep experience developing highly integrated, low-power IoT solutions, and we’re excited to work together to extend their reach with Iridium’s truly global satellite network,” said Tim Last, executive vice president, Iridium. “As a market leader in satellite IoT, Iridium is offering device manufacturers a powerful new way to develop connected products. Integrating Iridium NTN Direct into Altair’s chipsets will enable solutions and applications that require reliable, low-power connectivity beyond the limits of terrestrial networks.”

“Adding Iridium NTN Direct to our ultra-low-power LTE-M/NB-IoT ALT1350 and 5G eRedCap ALT1550 chipsets reflects our commitment to giving customers greater flexibility in how and where their IoT devices connect,” said Dima Feldman, VP Product Management and Marketing, Altair Semiconductor. “With Iridium’s truly global LEO satellite connectivity alongside terrestrial cellular, device manufacturers can more easily develop solutions that will reliably work anywhere they’re deployed.”

Iridium NTN Direct leverages Iridium’s fully operational, LEO satellite constellation and globally coordinated L-band spectrum to extend standards-based connectivity beyond terrestrial networks. The service is designed to support NB-IoT and direct-to-device (D2D) applications using compatible 3GPP standards-based chipsets, providing MNOs, chipset manufacturers and device makers with a path to extend connectivity through the Iridium satellite network.

Altair joins a growing ecosystem of partners bringing the Iridium NTN Direct service to market. A combination of chipmakers, module manufacturers, OEMs, device makers, and IoT developers is leading the next generation of NTN-cellular integration with Iridium NTN Direct.

For more information about Iridium NTN Direct, visit www.iridium.com/ntn-direct

About Iridium Communications Inc.

Iridium Communications Inc. (Nasdaq: IRDM) operates the world’s only truly global mobile satellite network. It serves as a platform for innovation, enabling voice, data, and messaging, positioning, navigation, and timing (PNT), and aircraft surveillance services anywhere on Earth. Through its satellite constellation and integrated capabilities like Aireon, the world’s only space-based air traffic surveillance system, Iridium delivers services that support safety-focused operations across aviation, maritime, government, industrial, and consumer markets. The company is a leader in satellite Internet of Things (IoT) connectivity and is advancing direct-to-device (D2D) communications based on open standards to expand access to satellite services.

Headquartered in McLean, Virginia, Iridium innovates through an ecosystem of more than 500 technology and distribution partners, serving millions of customers worldwide. For more information visit www.iridium.com.

Forward-Looking Statements Disclosure

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the capabilities, benefits and availability of the Iridium NTN Direct service. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the timing of commercial availability of the Iridium NTN Direct service, the company’s ability to maintain the health, capacity and content of its satellite constellation, general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the company’s Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2026, and the company’s Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on July 22, 2026, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update or revise any forward-looking statements.

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3C Merges with Datalec to Create US$400M+ Revenue Liquid Cooling and Data Centre Services Platform

The combination brings together deep expertise in liquid cooling, mechanical and electrical (M&E) engineering, ODM manufacturing, connectivity and facilities management (FM), giving data centre operators worldwide a single partner from design through to operation.

LONDON, Oct. 14, 2026 /PRNewswire/ — 3C, the liquid-cooling-led data centre infrastructure services company founded by former CoolIT Systems CEO Steve Walton, has merged with Datalec Precision Installations, the London-based data centre engineering specialist founded in 2012, to create 3C Datalec, a global platform that designs, builds and operates critical infrastructure for AI data centres.

Backed by new investment from Longbow Capital, S2G Investments, Apogem Capital and QIC, 3C Datalec will accelerate its international growth, invest in specialist talent and expand its technical capabilities as AI demand grows. Over the next 12 months, the company will hire 200 engineers and open new facilities in Warsaw, Poland; Calgary, Alberta; and Austin, Texas.

The combined business has approximately 1,000 team members and forecasts 2026 revenue to be over US$400 million, with offices and manufacturing facilities across Europe, the Middle East, Asia-Pacific and North America. It works with four of the five largest hyperscalers and over 25 colocation providers, alongside neoclouds and enterprise customers, with active projects in 16 countries totalling hundreds of megawatts (MW).

As AI workloads drive up compute density, power requirements and thermal complexity, 3C Datalec organises its capabilities into three pillars:

Create – design and engineering

Construct – liquid cooling, M&E, ODM manufacturing and connectivity installation

Care – commissioning, operations, maintenance and facilities management

“Rack densities have outgrown air, and liquid cooling is no longer optional,” said Steve Walton, CEO of 3C Datalec. “At CoolIT, we spent years preparing for this moment and became a global leader in liquid cooling. The hard part now is making cooling, power, construction and operations work as one system, while running at scale. We’re combining our liquid cooling expertise with Datalec’s engineering, manufacturing and FM capabilities, so customers have one partner from design to operation.”

The industry is running short of skilled data centre engineers, so 3C Datalec is training its own. Team members have access to apprenticeships, technical training and career development programs through the company’s internal university, and will share in its success through the Leadership & Employee Equity Program (LEEP). The goal: build the next generation of liquid cooling and critical infrastructure specialists.

“Datalec has always been a people-first business. We’ve grown by building strong relationships, delivering for our customers and creating a culture that people want to be part of,” said Danny Keeper, Group Director & Co-Founder of Datalec. “Finding a partner in 3C that genuinely shares those values was extremely important to us. This partnership allows us to grow globally while protecting the culture and identity that have been at the heart of Datalec since day one.”

“Our customers have trusted Datalec with their most critical sites for more than a decade, and we earn that trust on every project,” added Stuart Richmond, Group Director & Co-Founder of Datalec. “Joining 3C means we can now offer liquid cooling at global scale, but our commitment doesn’t change: the same teams, the same contacts and the same focus on getting it right for every customer.”

“AI is rewriting the requirements for data centre infrastructure and liquid cooling sits at the centre of that shift,” said Matthew Cunning, Director at Longbow Capital. “Steve helped build a category leader in liquid cooling and Datalec brings a proven delivery business with a loyal customer base. We’re backing 3C Datalec to become the partner of choice for AI-ready infrastructure.”

“The next phase of data centre investment will be shaped by both new development and the need to upgrade existing facilities for higher-density workloads,” said Bala Nagarajan, Managing Director at S2G Investments. “Datalec has built deep trust delivering complex projects in that environment, and 3C brings the experience and capabilities to extend those relationships into a broader set of services across the life of a facility.”

Datalec’s headquarters will remain in London, and its founding leadership team will continue in their executive roles within the enlarged group. Financial terms were not disclosed.

About 3C Datalec

3C Datalec designs, builds and operates critical infrastructure for AI and high-density data centres. Formed in 2026 through the combination of 3C, founded by former CoolIT Systems CEO Steve Walton, and Datalec Precision Installations, founded in London in 2012, the company brings liquid cooling, M&E engineering, ODM manufacturing, connectivity and facilities management together, built around Create • Construct • Care. With approximately 1,000 team members and active projects in 16 countries, 3C Datalec serves hyperscalers, colocation providers, neoclouds and enterprises across Europe, the Middle East, Asia-Pacific and North America. 3C Datalec is backed by Longbow Capital, S2G Investments, Apogem Capital, and QIC. For more information, visit www.datalecltd.com.

About S2G Investments

S2G Investments is a multi-asset investment firm focused on scaling durable, market-defining businesses across food & agriculture, energy, and oceans. We provide capital and value-added resources to companies commercializing solutions designed to improve efficiency, resilience, and long-term value across industries powering the global economy. Through fit-for-purpose financing and a systems-focused investment approach, S2G is committed to driving measurable, sustained outcomes with tailored solutions that span late-stage venture, growth equity, structured finance, and infrastructure. For more information about S2G, visit s2ginvestments.com or connect with us on LinkedIn.

About Longbow Capital

Longbow Capital is a Canadian investment manager focused on investing in energy, power, industrials, and technology. Since its founding in 1997, Longbow has been a long-term strategic partner and an engaged and effective shareholder in over 150 high-growth investments. Longbow’s investment track record, extensive relationship network, and deep understanding of how our energy system works enable us to source, evaluate, and invest in opportunities arising from some of the most significant societal and economic shifts underway today – decarbonization, digital infrastructure buildout, and deglobalization – where technology-driven change is reshaping markets and creating compelling investment opportunities.

About Apogem Capital

Apogem Capital is a leading private markets investor with 35 years of expertise across private credit and private equity in North America. As of June 30, 2026, the firm manages approximately $44 billion in assets.¹ Apogem provides a comprehensive suite of solutions, including direct lending, private equity funds and co-investments, GP-led transactions and LP secondaries, GP stakes, and private real assets.

With a team of over 250 professionals, including more than 120 investment professionals, Apogem combines deep domain expertise with the stability and long-term perspective of its parent company, New York Life Insurance Company. Apogem Capital is a wholly owned subsidiary of New York Life through New York Life Investment Management Holdings, LLC. For more information, visit apogemcapital.com.

¹ AUM is estimated and unaudited as of June 30, 2026, and includes non-discretionary and co-advised assets.

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Jharsuguda Airport Set for INR 2,100-Crore Expansion, New Domestic Routes on the Horizon

Jharsuguda, Oct 14 (UDN): Veer Surendra Sai (VSS) Airport in Jharsuguda is set for a major expansion following the Centre’s sanction of ₹2,100 crore for the project. The proposed upgrade is expected to enhance aviation infrastructure in western Odisha and create scope for additional domestic flight connections.

 Representational Image 

The airport currently handles around 1,000 passengers daily, with services linking Jharsuguda to Delhi, Kolkata, Bengaluru and Bhubaneswar. Officials expect passenger traffic to double after the expansion, alongside the possibility of more airlines and flight routes.

The project is also expected to strengthen connectivity for the region’s industrial and commercial centres, potentially supporting trade, tourism and investment across western Odisha.

Runway Extension and New Terminal Planned

The expansion plan proposes extending the existing runway from 2,391 metres to 3,600 metres to facilitate the operation of larger aircraft. It also includes the construction of a second terminal building and a new administrative complex.

Other proposed facilities include a parallel taxi track, additional aircraft parking bays and aprons, improved approach lighting systems and advanced navigational infrastructure. These additions are expected to increase the airport’s capacity and improve operational efficiency.

Land Acquisition in Progress

Bargarh MP Pradeep Purohit said the Centre had sanctioned funds for the airport’s expansion and noted that the state government was undertaking the land acquisition process.

The airport currently spans approximately 1,027 acres, while the acquisition of another 226 acres is underway. The additional land is intended to accommodate the planned infrastructure and equipment required for larger aircraft operations.

Connectivity Boost for Western Odisha

The proposed expansion is expected to improve air connectivity and strengthen Jharsuguda’s position as a key aviation hub for western Odisha. Better infrastructure could make the region more accessible to businesses, tourists and investors.

While the upgrade could pave the way for additional domestic destinations and expanded flight operations, the introduction of new routes will depend on implementation of the project and decisions by airlines.

Odisha Spends Just INR 94,463 Crore of INR 3.1 Lakh Crore Budget in First Half of FY 2026–27

Bhubaneswar, Oct 14 (UDN): Odisha spent ₹94,463 crore, roughly 30 per cent of its ₹3.1 lakh crore annual budget, during the first six months of the 2026–27 financial year, with capital expenditure remaining significantly below the yearly target.

 Representational Image 

The expenditure figures were presented by the Finance Department at a recent meeting of departmental secretaries, prompting directions to accelerate spending and remove bottlenecks delaying the implementation of development projects.

Capital Expenditure Lags Behind

Of the ₹1.8 lakh crore allocated for programme expenditure in the current financial year, the state had spent ₹58,508 crore by the end of September, according to reports.

Capital expenditure stood at ₹18,183 crore against the annual allocation of ₹72,100 crore, meaning roughly one-fourth of the planned amount had been utilised in the first half of the financial year.

Meanwhile, expenditure on establishment, operations and maintenance declined by around 4.1 per cent in absolute terms compared with the corresponding period last year.

CAG Flags Persistent Underspending

The latest figures come against the backdrop of a Comptroller and Auditor General (CAG) report highlighting substantial budgetary savings over five financial years.

Between 2020–21 and 2024–25, Odisha reportedly underspent its capital outlay by an average of 17 per cent and its overall budget by 20 per cent. Savings against budgetary provisions ranged from 17.7 per cent to 25.98 per cent during the period.

The state budget expanded from ₹1,67,663 crore in 2020–21 to ₹2,87,770 crore in 2024–25, an increase of 71.64 per cent. The figures raise questions about the pace at which budget allocations are being translated into actual expenditure and completed projects.

Vacancies and Delays Cited as Key Challenges

Amarendra Das, associate professor at the National Institute of Science Education and Research (NISER), attributed lower-than-expected expenditure partly to vacancies in government departments and delays in the release of central funds.

Administrative hurdles, including delays in preparing detailed project reports (DPRs), tender finalisation, committee appraisal and Cabinet approvals, have also been identified as areas requiring attention.

Departments Told to Accelerate Spending

Chief Secretary Anu Garg has directed departmental secretaries to closely monitor expenditure and speed up the implementation of schemes, particularly those involving programme and capital spending.

Engineering departments have been asked to expedite project execution and achieve at least 10 per cent growth in expenditure over the next six months.

Officials have also been instructed to identify implementation bottlenecks, resolve pending approvals on priority and fix accountability for avoidable delays.

With the financial year entering its second half, the focus will be on whether departments can accelerate spending and ensure that budgetary allocations translate into timely infrastructure development and public services.

InCred Capital steps up Capital Markets push under CEO Abhinav Khanna

Senior leadership hires, technology investment and global expansion support ambition to scale InCred Capital into a leading institutional equities franchise and grow its market share multi-fold in India’s institutional equities segment

MUMBAI, India, Oct. 14, 2026 /PRNewswire/ — InCred Capital is significantly scaling up its presence in India’s institutional equities market, with a series of senior leadership hires, substantial investment in technology and execution, and an expanding global distribution network.

The firm is targeting to grow its market share multi-fold in India’s institutional equities segment over the next five years, as it builds on its existing platform across cash equities, derivatives and asset services.

The business is led by Abhinav Khanna, Chief Executive Officer – Capital Markets, who has now joined InCred Capital following the announcement of his appointment earlier this year.

Abhinav brings over 25 years of experience across India, the UK and the Middle East. Most recently, he was Managing Director and Chief Business Officer – Global at ValueQuest Investment Advisors. Prior to that, he spent over a decade at Citigroup Global Markets, culminating in his role as Managing Director and Head of Equities – India.

InCred Capital has also strengthened its senior leadership team with the appointment of Abhimanyu Kalra as MD, Co-Head of Equities. Abhimanyu brings over 23 years of experience in equity markets, including 18 years at Nomura, during which he has built deep relationships with leading global and domestic asset managers.

The India build-out is being complemented by an expanding international footprint. InCred Capital recently launched its US business under Arunava Das, CEO – USA, strengthening its access to global institutional investors.

Arunava joins from JM Financial, where he served as CEO of its North America business, and has previously held senior roles at JPMorgan Chase and Edelweiss Capital.

The appointments add further depth to an established franchise and underline InCred Capital’s ability to attract high-quality senior talent as it enters its next phase of growth.

Alongside the leadership build-out, InCred Capital is making a significant investment in its technology and execution infrastructure across order management, research distribution, institutional sales and trading, block execution and algorithmic trading.

The platform serves a broad institutional client base including mutual funds, insurance companies, pension funds, FPIs, global long-only investors and hedge funds.

Bhupinder Singh, Founder, InCred Group, said, “We are making a big bet on Capital Markets. India’s markets are getting larger, deeper and more important to global investors, while domestic institutional capital continues to grow rapidly. We see a very large opportunity to build a serious, scaled franchise serving both.

Abhinav and the team bring exceptional experience, relationships and market credibility. The calibre of people we have been able to bring together gives me tremendous confidence in what we can build from here. Our ambition is clear: to build InCred into one of India’s leading institutional equities franchises. This is a long-term build, and we have the conviction, capital and patience to do it properly.”

Abhinav Khanna, Chief Executive Officer – Capital Markets, InCred Capital, said, “India is one of the most exciting institutional capital markets opportunities globally, and we believe InCred has a real opportunity to build on the credibility it has already established and scale into a much larger franchise.

Our job now is to take that platform to the next level — through differentiated research, outstanding client service, strong execution and deeper relationships with institutions in India and globally.

We have assembled an exceptional team and have the backing to build this business for the long term. Our ambition is to become one of the institutions that the largest investors in India and around the world naturally turn to.”

About InCred Capital

InCred Capital is the institutional, wealth management and asset management arm of the InCred Group. The firm provides a comprehensive range of services across Investment Banking, Institutional Equities, Wealth Management and Asset Management, serving corporates, institutional investors and high-net-worth clients in India and internationally. Combining deep domain expertise with technology, innovation and disciplined risk management, InCred Capital is building a leading integrated financial services platform.

For information: https://www.incredcapital.com/

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Zayed National Museum’s First Temporary Exhibition Explores 7,000 Years of Camel History

ABU DHABI, UAE, Oct. 14, 2026 /PRNewswire/ — Zayed National Museum, the national museum of the UAE, announces its inaugural temporary exhibition, Tracks Through Time: The Camel in Society, Trade and Art. The world’s first exhibition to comprehensively explore more than 7,000 years of camel history will open early December 2026, coinciding with the museum’s first anniversary celebration.

Tracks Through Time examines the camel’s role in society, trade networks and creative cultures of the UAE and the wider region, from the earliest evidence of wild camels on this land to the living traditions practised today.

The exhibition will include wild camel bones excavated from the archaeological site of Baynunah in Abu Dhabi dating to the Neolithic Period (4,500-4,000 BCE), on loan from Natural History Museum Abu Dhabi, alongside remains from Al Sufouh in Dubai dating back to the Bronze Age (2,500-1,300 BCE) loaned from Dubai Culture and Arts Authority. This is the first time that detailed evidence of the now-extinct wild camel species will be presented to the public.

Dr. Peter Magee, Director of Zayed National Museum, said: “We are excited to present our first temporary exhibition, which celebrates the camel’s profound significance in Emirati culture and the broader story of the UAE. This exhibition represents our mission to deepen understanding of the UAE through original research and meaningful public engagement. Grounded in the latest scientific research and built through collaboration, the exhibition traces the unique archaeological evidence for the presence of wild camels in the UAE thousands of years ago, initial camel domestication in the UAE, camel-human bonds and daily life, culminating in the prestige of Al Hejin camel racing and Mazayna beauty competitions.”

Also included are domesticated camel bones from the site of Saruq Al Hadid in Dubai, dating back to the Iron Age (2,000-1,300 BCE) loaned from Dubai Culture and Arts Authority. These remains provide some of the earliest evidence in the world for the taming and rearing of wild camels into a domesticated species.

Other highlights include a rare children’s book detailing the different species of camel and their uses dating to the 1840s, examples of rock art depicting camels from Fujairah dating to 3,000 years ago and representations of camels in UAE postage stamps throughout the years. Audiovisual elements will present rare archival photography and film footage alongside recordings of Taghrooda and Alheda’a (camel calling), oral traditions inscribed on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity, and oral testimonies from camel herders and community members.

Tracks Through Time will form part of a wider programme of activities and experiences marking the museum’s first anniversary milestone. Visitors will be able to take part in exhibition-related workshops, activities, tours, alongside special anniversary programming across the museum, as well as enjoy a standalone retail offering inspired by the themes of the exhibition.

For images and more information about Zayed National Museum, please visit this folder.

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Achyuta Samanta Elected First President of Indian UniSport Federation

BHUBANESWAR, India, Oct. 14, 2026 /PRNewswire/ — Noted educationist, social reformer and Founder of KIIT and KISS, Dr. Achyuta Samanta (https://achyutasamanta.com/), has been unanimously elected the first President of the Indian UniSport Federation (IUSF) at its inaugural Annual General Meeting here on Sunday. Addressing the members after his election, he called for collective efforts to prepare Indian athletes for the upcoming Commonwealth Games in India and urged all stakeholders to work together to realise the Prime Minister’s vision for sports development in the country.

Recognised by the Ministry of Youth Affairs and Sports, the Federation aims to strengthen university sports, promote transparent governance and create greater opportunities for young athletes across the country.

His election recognises his significant contribution to university sports through KIIT (https://kiit.ac.in/) and KISS (https://kiss.ac.in/), where he has championed a model integrating education, sporting excellence and athlete welfare. Under his leadership, the institutions have developed a comprehensive sports ecosystem featuring more than 30 sports facilities, professional coaching, sports science, nutrition, medical care and rehabilitation support.

As many as 24 KIIT and KISS athletes have represented India at the Olympic Games, Asian Games, Commonwealth Games and World University Games. KIIT has also served as India’s nodal university for the World University Games since Napoli 2019. More recently, 54 students from KIIT and KISS represented India at the 20^th Asian Games held in Aichi-Nagoya, Japan. The participation of such a large contingent from a single Indian university was a significant achievement. At the continental sporting event, athletes from KIIT and KISS won a total of 21 medals, comprising three gold, seven silver and 11 bronze medals.

As IUSF President, Dr. Samanta has emphasised fair competition, accountable governance and athlete-centred development. He expressed his gratitude to the Ministry of Youth Affairs and Sports, Union Minister Dr. Mansukh Mandaviya, universities and sports stakeholders for their support.

Dr. Samanta has held several positions in national and international sports organisations and received recognition for his contributions. He previously served as President of the Volleyball Federation of India and currently serves as President of the Odisha Volleyball Association. He is also associated with the International Volleyball Federation (FIVB). Over the years, he has developed strong relationships with leading international sports bodies, including FIFA, FIVB and FIDE. In recognition of his contributions to the promotion of volleyball and chess, he has received the highest honour conferred by the FIVB.

Since 2004, Samanta has consistently worked to promote sports and support athletes through KIIT and KISS. The institutions have developed international-standard sporting infrastructure and provided students with opportunities to showcase their talents at state, national and international levels. One of its athletes has received the Major Dhyan Chand Khel Ratna Award, while 14 others have been honoured with the Arjuna Award.

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AYODHYA 2.0: Faith, Tourism and the Next Investment Capital

 The Sacred City Recorded 300 million Visitors in 2025, Nearly 47x Vatican City’s Footfall

MUMBAI, India, Oct. 14, 2026 /PRNewswire/ — Liases Foras, an independent real estate research firm, has released its latest report titled ‘Ayodhya 2.0: Faith, Tourism and the New Investment Capital’, examining the city’s rapid evolution following the consecration of the Shri Ram Janmabhoomi Mandir on 22 January 2024. According to the report, Ayodhya is emerging as India’s Spiritual and Investment Capital, recording around 300 million visitors in 2025, compared with around 6 million in 2020 and 164 million in 2024.

The report tracks the growth of Ayodhya’s visitor economy alongside infrastructure development, hospitality expansion and changes in the real estate market. What began as a pilgrimage surge is increasingly evolving into a broader economic story, supported by longer visitor stays, improved connectivity and a more vibrant visitor economy.

Key findings from the report:

• The Ayodhya Development Authority’s Master Plan 2031 carries a total committed outlay of ₹85,000 crore, covering airport and rail expansion, roads, the Sarayu riverfront, public infrastructure and a 1,407-acre New Ayodhya township.
• More than 1.2 lakh new jobs have been reported across hospitality, retail and construction since 2024, with Ayodhya estimated to contribute approximately 1.5% of Uttar Pradesh’s GSDP.
• More than 50 major hotel projects are currently under construction, including Taj, Marriott, Radisson, Oberoi, Leela and Ginger, against an existing organised hotel inventory of around 1,200 rooms.
• Average visitor stays have increased to around 2–4 days, with the report projecting stays of 5–7 days by 2030–35 as spiritual circuits, cultural tourism, wellness, festivals and riverfront activities expand.
• Land prices have appreciated by 25%–40% across the city since 2019, while areas immediately around the Ram Mandir have recorded increases of 5–10 times. Prime-corridor rates are projected to reach approximately ₹37,300 per sq ft by 2031, representing 2.5x growth over the next five years.
• Average daily earnings of small shopkeepers have increased from ₹400–500 to around ₹2,500, while additional annual GST revenue linked to the tourism boom is estimated at approximately ₹400 crore.

The findings also highlight how Ayodhya’s tourism economy is broadening beyond pilgrimage, with longer visitor stays, growing interest in wellness, cultural and riverfront experiences, and increasing demand for hospitality, residential and plotted developments. The report expects this expansion to continue through 2035, with the city gradually moving from the initial post-consecration surge towards a more established urban and tourism economy.

Connectivity has also emerged as a major driver of Ayodhya’s transformation. The Maharishi Valmiki International Airport now connects the city to major metros, with its Phase II expansion expected to increase annual passenger capacity to 6 million. The redeveloped Ayodhya Dham Junction can handle more than 60,000 passengers daily, while the 67-km Ayodhya Ring Road, ₹12,000 crore NHAI regional road-widening program and Ramayana Circuit are expected to further strengthen regional and intra-city access.

This improving accessibility is also supporting the emergence of new real estate segments. Second homes and branded residences are emerging as new demand categories, alongside wellness, cultural and riverfront experiences, as visitor stays extend beyond single-day pilgrimage.

“Ayodhya’s tourism growth is not simply increasing visitor numbers. It is creating a wider economic base across hospitality, retail, transport and real estate. With infrastructure capacity expanding and visitor stays expected to lengthen, the city is moving towards a more diversified tourism and property market. The combination of sustained visitor demand, rising hospitality supply and continued infrastructure investment is expected to support long-term demand across residential, plotted and hospitality-led developments,” said Mr. Pankaj Kapoor, Managing Director, Liases Foras.

Over the next decade, Ayodhya is expected to transition from rapid infrastructure-led expansion to a more established tourism and urban economy. As the Master Plan progresses, hospitality supply expands and visitor patterns mature, the city is expected to see sustained demand across tourism, residential and commercial segments, with repeat visitation playing a larger role in the market by 2035. The transformation underway today is therefore not just about accommodating more visitors, but about building the infrastructure, economic ecosystem and investment opportunities to support Ayodhya’s next phase of growth.

About Liases Foras

Liases Foras is India’s premier independent, non-broking real estate research company. With no brokerage or development interests, the firm has provided impartial, data-driven market intelligence to investors, financial institutions, and policymakers since 1998. The full report “AYODHYA 2.0: Faith, Tourism and the Next Investment Capital” is available upon request.

Media Contact – Liases Foras Real Estate Rating & Research Pvt. Ltd.

M: +91 9833344500 | contact@liasesforas.com | www.liasesforas.com

Download the report: https://bit.ly/4imKlZ1

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Solidion Technology Reaffirms Commitment to Address Growing Energy Storage Needs of AI Data Centers

Solidion’s patented anode technology and PEAK UPS design target the space, lifespan and cost demands of AI-scale infrastructure.

DALLAS, Oct. 14, 2026 /PRNewswire/ — Solidion Technology, Inc. (NASDAQ: STI) (“Solidion Technology” or “the Company”), an advanced battery technology solutions provider, today reaffirmed its commitment to address energy storage for artificial intelligence and data center infrastructure, centered on its PEAK Series uninterruptible power supply (UPS) system.

As AI workloads increase the power density of data centers, operators face growing pressure on the systems that keep facilities running during grid disruptions. Uninterruptible power supply (UPS) batteries take up floor space that could otherwise hold AI servers and additional computing equipment, and they require periodic replacement.

Solidion’s approach is built around its PEAK Series, a UPS battery system built for AI data centers using its proprietary 5500 silicon-carbon anode cell, designed for AI data center environments and well positioned to address these evolving requirements.

The Company’s strategy focuses on three priorities:

• Energy density and space efficiency: Based on Company testing, PEAK is designed to reduce UPS footprint by up to 30%, freeing floor space for servers.
• Reliability and longevity: The 5500 cell is designed to last up to three times longer than conventional backup systems, reducing replacement cycles and maintenance. Solidion is focused on advancing technologies intended to support demanding data center operating environments.
• Materials-level innovation: Solidion’s portfolio of +385 patents covering silicon anodes, graphene and next generation battery chemistries, together with its pilot production facility in Dayton, Ohio, gives the Company a U.S. based foundation for developing data center energy storage.

“AI infrastructure represents a compelling market for advanced energy storage,” said Jaymes Winters, Chairman and CEO of Solidion. “Our focus is on translating our technology into practical commercial solutions that address real customer demand. We are not betting on which chips win; we are focused on supplying something every data center needs.”

Solidion intends to continue pursuing opportunities to apply its battery technologies directly to end users.

About Solidion Technology, Inc.

Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, Solidion’s (NASDAQ: STI) core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems, including UPS systems serving the artificial intelligence (AI) data center market and electric vehicles for ground, aerospace, and sea transportation. Solidion holds a portfolio of over 385 patents, covering innovations such as high-capacity, silane gas free and graphene-enabled silicon anodes, biomass-based graphite, advanced lithium-sulfur and lithium-metal technologies.

For more information, please visit www.solidiontech.com or contact Investor Relations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc., (NASDAQ: STI) (the “Company,” “Solidion,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

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AITO Builds the Foundation for Global Growth Through Product Excellence and Market Recognition

PARIS, Oct. 14, 2026 /PRNewswire/ — AITO, a high-end intelligent luxury mobility brand under SERES Group, showcased the engineering, intelligent technology and manufacturing capabilities behind its “Intelligence Redefining Luxury” philosophy at the 2026 Paris Motor Show. Building on its achievements in product development and customer experience, AITO announced plans to enter the European market in the autumn of 2027.

With the philosophy of “Intelligence Redefining Luxury”, AITO brings together traditional luxury and technological luxury, and creates the New Luxury. It carries forward the established principles of luxury through exceptional performance, refined comfort and craftsmanship, while integrating intelligent technology across safety, cabin, driving and services.

Realising this philosophy goes beyond the intelligent technologies customers experience in the vehicle. It is underpinned by the engineering, manufacturing and localisation capabilities that shape each product, with the SERES MF Platform providing the core vehicle technology foundation and the SERES Super Factory translating these strengths into production.

SERES MF Platform: The Technology Behind AITO

Behind every AITO product is the SERES MF Platform, AITO’s core vehicle technology platform. It integrates diverse powertrains, intelligent safety, an intelligent chassis, an intelligent central hub, cabin and ADAS integration and intelligent services within a unified architecture. Its diverse powertrains support BEV, REEV and PHEV configurations, providing flexibility across different powertrain needs, while intelligent safety provides all-round protection to help support a safer journey. The intelligent chassis is designed to deliver agile handling and a smooth ride, balancing driving control with comfort. By bringing these systems together, the platform helps deliver a more seamless driving experience for customers. Complementing these capabilities, the intelligent central hub provides high computing power and integration, coordinating key vehicle functions. This works alongside cabin and ADAS integration, which connects the intelligent cabin and driving systems to deliver a more seamless experience. Intelligent services provide always-on care, extending support beyond the driving experience. Together, these six comprehensive capabilities cover every facet of the ownership journey, encompassing life protection, vehicle safety, health, and privacy, establishing a new benchmark for intelligent mobility in Europe.

SERES Super Factory: Intelligent Manufacturing

While the SERES MF Platform provides the core vehicle technology platform, the SERES Super Factory translates these technologies into production. Behind the SERES Super Factory is its Industrial Brain, which enables seamless data connectivity across the value chain, integrating information, logistics and technology flows. It links more than 300 partners across the supply chain, supporting more efficient coordination.

The factory integrates nine major manufacturing processes and deploys more than 3,000 robots working collaboratively, with 100% automation across key processes. Its 10,000-ton-class integrated die-casting technology enables greater component integration, improves structural integrity and further enhances body rigidity and safety.

For quality control, automated inspection and AI-powered visual monitoring are applied throughout the production process. Each vehicle also has its own digital record to ensure traceability. From intelligent manufacturing to quality inspection, every step reflects AITO’s commitment to delivering vehicles customers can trust.

SERES Ecosystem: Global Partnerships, Recognition and Performance

AITO’s European and global development is further supported by leading suppliers and partners around the world, with collaboration across key vehicle component areas, including power batteries, thermal management systems, high-performance tyres, chassis and steering systems and passive safety systems. Through close collaboration with partners and careful selection of high-quality core components, AITO brings global expertise across key vehicle systems, complementing AITO’s engineering and production capabilities and supporting product performance, quality and reliability from the outset. Alongside its global supplier network, AITO is also developing a localised service system covering intelligent diagnosis, mobility services, local spare parts supply and local customer service teams throughout the ownership.

These global partnerships, engineering capabilities and customer-focused services form an integrated ecosystem supporting AITO’s products and long-term growth. AITO’s development is also reflected in its brand value, industry and customer recognition in the global luxury automotive market. In April 2026, Brand Finance, a leading international brand valuation agency, released its Automobiles 100 2026 ranking. AITO was ranked among the Top 10 Global Luxury Automotive Brands by brand value, as the only Chinese brand on the list. At the same time, AITO ranked first among Chinese luxury automotive brands by brand value.

In China, AITO has also demonstrated strong market and industry performance. The AITO 9 achieved the highest overall score in the C-NCAP assessment, while J.D. Power’s 2026 China New Energy Vehicle Initial Quality Study ranked it first in the luxury plug-in hybrid SUV segment. In a J.D. Power brand Net Promoter Score (NPS) study, AITO ranked first among new energy luxury brands for customer advocacy.

Today, more than 1.2 million customers have chosen AITO. AITO vehicles have collectively travelled more than 40 billion kilometres, with 71% of that mileage powered by electricity, while intelligent driver assistance systems have accumulated over 10 billion kilometres. Our data further shows that in a single month, 40% of driving mileage was completed with driver assistance, reflecting growing customer confidence in these capabilities.

“Intelligence Redefining Luxury” is reflected in the way AITO approaches every stage of product development and production. From vehicle technology and engineering to intelligent manufacturing and testing, AITO brings these expertise together under rigorous standards to strengthen product performance, quality and reliability. This effort supports continuous development and lays a strong foundation for AITO’s next stage of global growth.

About AITO

Founded in December 2021, AITO is a high-end intelligent electric vehicle brand under SERES Group. Its name stands for “Adding Intelligence to Auto” and embodies the concept of “Intelligence Redefining Luxury”. By combining “Traditional Luxury” and “Technological Luxury”, AITO creates a “New Luxury” experience in the new energy vehicle (NEV) industry.

With outstanding intelligent features and refined luxury quality, it has become the top-selling Chinese luxury car brand in China in 2025. The AITO lineup surpassed one million cumulative deliveries in just 46 months, setting a new delivery speed record for Chinese luxury new energy vehicle brands.

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