- Industry leaders and experts are set to exhibit advanced solutions at CABSAT 2023 to accelerate growth of MENA’s entertainment sector
By : Mohamed Elkholy
CABSAT 2023, the flagship event for content creation, production, distribution, digital media, and satellite communication will highlight the latest trends and explore innovation and new technologies poised to transform the future of live media and the entertainment sector.
The annual gathering, which is being held from May 16 to 18, 2023 at the Dubai World Trade Centre (DWTC), will assemble major national and international production and broadcast market players; experts, thought leaders, business owners and distributors from around the world, showcasing their innovative technologies and concepts.
The 29th edition of CABSAT comes at a time of positive growth in the industry, with the Middle East’s media and entertainment market projected to grow by 7.4 per cent CAGR between 2021 and 2026 to reach USD 47 billion[i]. To foster enterprises with a high potential for economic expansion and job creation, governments in the Middle East and North Africa (MENA) region have shown significant support for the entertainment industry.
Against this backdrop, the three-day exhibition will provide an ideal platform for industry experts and leaders from the community of producers, directors, broadcast technology, channel distributors, content publishers and more, to share best practices and discover the latest innovative production and broadcast technologies that have the potential to further boost the entertainment market in the MENA region.
Amongst exhibitors at the show will be Ofir Benovici, Chief Executive Officer of the Turkish production company, Zero Density. He said: “As a pioneer in virtual studio, AR, XR, and real-time graphics, we aim to revolutionise the broadcast, live events, and e-sports sectors by implementing cutting-edge technologies. Our virtual studio solutions, including the Unreal Engine Native platform, Reality Engine, which features a real-time compositing system and its built-in keying technology, Reality Keyer, have been employed by some of the biggest companies worldwide for major events ranging from the Olympics to the FIFA World Cup. Through CABSAT, which provides an excellent platform to present our cutting-edge solutions, we intend to boost our network and reshape the future of the regional broadcast sector. In addition, we seek to explore new possibilities for growth in the industry.”
Addressing the mega technology trends, the broadcasting industry has latterly become more reliant on Video on Demand (VOD). By the end of 2023, it is anticipated that the VOD sector will generate USD 174.80 million in revenue, which will expand at an annual rate of 5.04 per cent to reach a projected market volume of USD 215.7 million by 2027. With a market volume of USD 157.10 million in 2023, Video Streaming (SVoD) is considered to have the biggest potential.[ii] Currently, the most lucrative monetisation strategy is SVoD, which makes up the largest portion of the OTT (over-the-top) industry. As the broadcast television industry is evolving, and it must adapt to stay relevant by shifting from being a TV broadcaster to an all-encompassing broadcaster.
Pavel Potuzak, CEO of Aveco, said: “CABSAT provides the perfect opportunity to assemble the entertainment and media communities from around the MEASA region under one roof to highlight the most recent technological breakthroughs and innovations in creating the next generation of content. We are thrilled to be a part of this landmark event, with Harmonic the worldwide leader in video delivery technology and services at our booth, and to share our recent developments and technologies in the field of broadcasting. Our host of solutions are targeted at transforming the broadcasting sector, including studio production automation from designing to delivery, media asset management, master control automation, automated playout, among others. Aveco’s technologies and solutions are used by more than 300 broadcasters in Europe, the Americas, Asia, and Africa to modernise and simplify their processes.”
Bringing together stalwarts of content creation and broadcast sectors with up-and-coming disruptors presenting the latest advances from the industry, the 29th edition of CABSAT is on course to drive the industry’s transformation through its well-established position as a major business, innovation, and knowledge exchange platform in the media and entertainment sector.
Green Hydrogen Company Ohmium Closes $250 Million Series C Fundraise Led by TPG Rise Climate
- The funding round will cement Ohmium’s technological leadership and accelerate international growth.
By : Bakinam Khaled
Ohmium International (“Ohmium”), a leading green hydrogen company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyzer systems, today announced the close of a $250 million Series C growth equity financing. The round was led by TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise, and also included participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group.
The funding will be used to support Ohmium’s expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company’s growing global customer pipeline in key regions including the U.S., Europe, India and the Middle East. The investment will also provide significant capital to scale Ohmium’s business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.
“Green hydrogen is critical to the rapid decarbonization of hard-to-abate sectors,” said Ahmad Chatila, Chairman and founding investor of Ohmium and Managing Partner of Fenice Investment Group. “Ohmium is uniquely positioned to be a leading provider of emissions-free hydrogen technology given its customer-focused, modular solution that enables businesses to achieve an extremely competitive levelized cost of hydrogen (LCOH). We are delighted to partner with experienced clean technology investors like TPG Rise Climate to make large scale green hydrogen production a reality today.”
“Ohmium’s cutting-edge PEM electrolyzer systems are crucial to enabling the green hydrogen industry, satisfying a wide range of commercial applications and delivering superior value in terms of current density, scalability, ramp rate, and safety,” said Ed Beckley, Partner at TPG and senior member of the TPG Rise Climate investing team. “At a time when the market lacks sufficient reliable supply of electrolyzers, we are pleased to lead the company’s latest funding round and partner with the team to scale its delivery capability.”
Both Beckley and Mariana Popa, a Principal at TPG Rise Climate, will join Ohmium’s Board of Directors as part of the transaction.
“Ohmium is experiencing tremendous success in 2023. We are on track to deliver our PEM electrolyzer systems to customers worldwide operating across multiple sectors,” said Arne Ballantine, CEO of Ohmium. “This capital raise is a validation of Ohmium’s strategy and technology leadership and provides our organization with the kind of investment needed to deliver on our ambitious plans for international growth.”
Barclays and BofA Securities served as placement agents and Skadden, Arps, Slate, Meagher & Flom LLP and Spice Route Legal served as legal counsel to Ohmium in relation to the transaction. Kirkland & Ellis LLP served as legal counsel to TPG.
About Ohmium International
Ohmium International enables industries to deploy green hydrogen for a sustainable future. The company’s suite of electrochemical products helps customers achieve their sustainable energy goals in industrial, transportation, and energy projects. Ohmium is headquartered in the United States, with manufacturing in India and operations worldwide.
Ohmium’s Proton Exchange Membrane (PEM) Electrolyzers
Ohmium manufactures modular interlocking PEM electrolyzers that produce pressurized high-purity hydrogen, making it an ideal energy source for hard-to-abate light and heavy industries. Individual, compact electrolyzers can be easily stacked to significantly reduce installation and maintenance costs and the standardized design enables rapid scaling from megawatts to gigawatts. Ohmium’s patented PEM technology features dynamic ramping capabilities, making it suitable to pair with renewable electricity. For more information, please visit www.ohmium.com
About TPG Rise Climate
TPG Rise Climate is the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals, the strategic relationships developed across TPG’s existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the following thematic areas: clean electrons, clean molecules and materials, and negative emissions. Jim Coulter, TPG Founding Partner and Executive Chairman, serves as Managing Partner of TPG Rise Climate. Former U.S. Treasury Secretary Hank Paulson serves as TPG Rise Climate’s Executive Chairman. For more information, please visit www.therisefund.com/tpgriseclimate.
Educators Can Help Children Become Positive Changemakers of Future
by :Tanja Spasojevic,
General Manager of Ora, the Nursery of the Future
Today’s children are tomorrow’s changemakers, leaders and problem-solvers. As such, it is critical to empower children in their early years to help them be positive changemakers for tomorrow. Educators have an instrumental role to play in moulding the children with right methodologies and teaching practices to envision them to be positive leaders of the future.
To be able to instil this skill, educators need a new kind of education – one which utilises futuristic technologies like advanced science and artificial intelligence. An education system that empowers children in their early years to have the courage to take action for a cause and learn invaluable skills of leadership and innovation in the process. A perfect way to start is to adopt revolutionary technologies at the heart of the curriculum, where every student is empowered to become an active citizen with a global mindset.
As educators, there is much we can do to help students significantly engage in social change. Developing a taste for reading can serve as the base for action. We can introduce important topics and literacy skills featuring information about important heroes. By encouraging children to read books about lesser-known champions will make them understand that every person has different capabilities for being leaders of tomorrow, for example.
A peer-to-peer programme is another opportunity to empower children to be the changemakers for tomorrow. These programmes allow children to network, connect and work together helping them be positive changemakers for the future.
Promoting social and civic values, such as tolerance, teamwork, respect and empathy, can also serve as a great tool to promote and encourage children to be positive future leaders.
