jilibet 0004
PM Modi Expressed Confidence About Strengthening of India-GCC Ties Under Kuwait’s Presidency: MEA
WILMINGTON, Delaware, Dec 2 (Reuters) - A Delaware judge ruled on Monday that Tesla (TSLA.O) , opens new tab CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it , surprising investors, and cast uncertainty over Musk's future at the world's most valuable carmaker. Musk did not immediately respond to an emailed request for comment. Tesla has said in court filings that the judge should recognize a subsequent June vote by its shareholders in favor of the pay package for Musk, the company's driving force who is responsible for many of its advances, and reinstate his compensation. McCormick said Tesla’s board was not entitled to hit “reset” to restore Musk’s pay package. “Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” she said in her 101-page opinion. She also said Tesla made multiple material misstatements in its proxy statement regarding the vote, and could not claim the vote was a “cure-all” to justify restoring Musk’s pay. “Taken together,” the problems with Tesla’s arguments “pack a powerful punch,” she wrote. Tesla shares fell 1.4% in after hours trade, after the ruling. McCormick also ordered Tesla to pay the attorneys who brought the case $345 million, well short of the $6 billion they initially requested. She said the fee could be paid in cash or Tesla stock. “We are pleased with Chancellor McCormick’s ruling, which declined Tesla’s invitation to inject continued uncertainty into Court proceedings," said a statement from Bernstein Litowitz Berger & Grossmann, one of the three law firms for the plaintiff. The law firm also said it looked forward to defending the court's opinion if Musk and Tesla appealed. Musk and Tesla can appeal to the Delaware Supreme Court as soon as McCormick enters a final order, which could come as soon as this week. The appeal could take a year to play out. After the January ruling, Tesla shareholders flooded the court with thousands of letters arguing that rescinding Musk's pay increased the possibility he would leave Tesla or develop some products like artificial intelligence at ventures other than Tesla. Attorneys for shareholder Richard Tornetta, who sued in 2018 to challenge Musk's compensation package, had argued that Delaware law does not permit a company to use a ratification vote to essentially overturn the ruling from a trial. McCormick in January found that Musk improperly controlled the 2018 board process to negotiate the pay package. The board had said that Musk deserved the package because he hit all the ambitious targets on market value, revenue and profitability. But the judge criticized Tesla's board as "beholden" to Musk, saying the compensation plan was proposed by a board whose members had conflicts of interest due to close personal and financial ties to him. After the January ruling, Musk criticized the judge on his social media platform X and encouraged other companies to follow the lead of Tesla and reincorporate in Texas from Delaware, although it is unclear if any companies did so. The judge in her January ruling called the pay package the "biggest compensation plan ever - an unfathomable sum." It was 33 times larger than the next biggest executive compensation package, which was Musk's 2012 pay plan. As of Monday, the pay package was worth $101.4 billion, according to Equilar, a compensation consulting firm. Musk's 2018 pay package gave him stock grants worth around 1% of Tesla's equity each time the company achieved one of 12 tranches of escalating operational and financial goals. Musk did not receive any guaranteed salary. Tornetta argued that shareholders were not told how easily the goals would be achieved when they voted on the package. Sign up here. Reporting by Tom Hals in Wilmington, Delaware; Editing by Bill Berkrot Our Standards: The Thomson Reuters Trust Principles. , opens new tab
On Jimmy Carter’s Deep and Historic Connection With Musicians: Why He Is Remembered as the ‘Rock ‘n’ Roll President’Looking for the Perfect Gift? Shop at Cutting Edge for something truly remarkable
New Delhi, Dec 22 (PTI) Demonstration of seed germination in outer space, a robotic arm to catch a tethered debris there, and testing of green propulsion systems are some of the experiments planned on the POEM-4 -- the fourth stage of ISRO's PSLV rocket that remains in orbit after launching a satellite. The PSLV-C60 mission, slated for an yearend launch, is scheduled to place the twin satellites 'Chaser and Target' to demonstrate the space docking technologies that are crucial for building India's space station. Also Read | 8th Pay Commission: Central Govt Employees Plan Nationwide Agitation After Finance Ministry Says No Plans to Establish 8th CPC. The PSLV Orbital Experiment Module (POEM) will carry 24 experiments -- 14 from various ISRO labs and 10 from private universities and start-ups -- to demonstrate various technologies in space. ISRO plans to grow eight cowpea seeds from seed germination and plant sustenance until the two-leaf stage in a closed-box environment with active thermal control as part of the Compact Research Module for Orbital Plant Studies (CROPS) developed by the Vikram Sarabhai Space Centre. Also Read | Vasundhara Raje Convoy Accident: Car Part of Rajasthan Former CM's Convoy Overturns, 3 Cops Sustain Minor Injuries (Watch Video). The Amity Plant Experimental Module in Space (APEMS), developed by Amity University, Mumbai, plans to study the growth of spinach in a microgravity environment. Two parallel experiments will be carried out simultaneously -- one on POEM-4 in space and one on the ground at the university. The experiment's outcome will provide insights into how higher plants sense the direction of gravity and light. The Debris Capture Robotic Manipulator, developed by VSSC, will demonstrate the capturing of tethered debris by a robotic manipulator using visual servoing and object motion prediction in the space environment. The robotic manipulator will be capable of capturing free-floating debris and refuelling tethered and free-floating spacecraft in future POEM missions. Mumbai-based start-up Manastu Space will test Vyom-2U, the green propulsion thruster, that uses a blend of hydrogen peroxide and in-house additives as fuel, with the goal of providing a safer and higher-performing alternative to hydrazine for space applications. The Varuna payload, developed by Piersight Space-Ahmedabad, is an in-orbit demonstration of a Synthetic Aperture Radar (SAR) in a CubeSat form factor. This mission marks the initial step towards establishing a constellation of SAR and Automatic Identification System (AIS) satellites, aiming to provide persistent, near real-time monitoring of all human and industrial activity at sea. (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
Delhi registers drop in air pollution, records 'moderate' air quality after weeks
AngioDynamics to Report Fiscal 2025 Second Quarter Financial Results on January 8, 2025 and Host Virtual NanoKnife Investor Event
Former US president Jimmy Carter dies aged 100
( MENAFN - GlobeNewsWire - Nasdaq) VICTORIA, Seychelles, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Bitget Wallet , a leading Web3 non-custodial wallet, has integrated the HyperEVM testnet, offering users a one-click feature to add the Network to their custom mainnets. Users can now easily access the Hyperliquid ecosystem, participate in its innovative decentralized applications, explore top-tier projects within HyperEVM, and receive test tokens via the Hyperliquid faucet, paving the way for deeper engagement with the ecosystem's DeFi capabilities and improving the overall user experience. This move comes as Hyperliquid's ecosystem continues to gain momentum in the blockchain space. The introduction of HyperEVM is set to significantly expand the use cases of the $HYPE token, which users will now employ for gas fees, as well as for lending, staking, and other DeFi activities. The gas-free trading experience provided by Hyperliquid's DEX is attracting increasing user interest and liquidity, positioning the platform for substantial growth. Additionally, DeFi projects such as lending platforms and automated market makers will go live alongside HyperEVM, improving capital efficiency and expanding the ecosystem's scope. Bitget Wallet's integration with HyperEVM enhances its reputation as a reliable and cutting-edge wallet solution. The platform has continuously added support for new and emerging tokens, allowing users to trade and engage with the latest blockchain assets. By prioritizing easy access to DeFi and decentralized ecosystems, Bitget Wallet continues to offer users a seamless and enhanced experience, ensuring they are equipped to take advantage of the latest market developments. Alvin Kan, COO of Bitget Wallet, shared "At Bitget Wallet, we aim to foster innovation by supporting projects like Hyperliquid that push the boundaries of blockchain technology. Our integration with the HyperEVM testnet reflects our commitment to offering users the tools to participate in the next wave of decentralized finance. By providing early access to HyperEVM and its evolving ecosystem, we are enhancing the value for our community and helping shape the future of Web3, ensuring they are always ahead of the curve in this fast-moving space." About Bitget Wallet Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 40 million users, it offers comprehensive on-chain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, and an NFT marketplace. Designed for everyone from beginners to advanced traders, it supports mnemonic, MPC, and AA wallet options. With connections to over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300 million protection fund for your digital assets. Experience Bitget Wallet Lite to start your Web3 journey. For more information, visit: Twitter | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord For media inquiries, please contact ... MENAFN19122024004107003653ID1109014723 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.Magma Power TM is not just a possibility, it's the inevitable future of renewable energy. The question is no longer if magma power will transform the world—but when. NEW YORK , Dec. 19, 2024 /PRNewswire/ -- Magma Power LLC, a global leader in renewable energy innovation, proudly announces the issuance of its 15th U.S. patent, further solidifying its dominance in harnessing magma reservoirs for sustainable energy. This newly granted patent underscores Magma Power's commitment to revolutionizing energy production through cutting-edge technology and marks a significant leap forward in geothermal innovation. "This patent is a testament to years of relentless research and development by our team," said Levi Conner , CEO of Magma Power. "With this breakthrough, we are one step closer to realizing the full potential of magma energy as a sustainable and cost-effective power source." Innovation at the Core The newly patented technology introduces an advanced method and system for drilling into magma reservoirs with unparalleled precision and safety. This innovation not only enhances the efficiency of magma-based energy extraction but also minimizes environmental impact. Key components of the patent include: 1. Advanced Drilling Methodology: Drilling an initial section of a borehole extending from the surface toward an underground magma reservoir. Detecting contact between the drill bit and magma using multiple advanced sensors and thresholds, such as torque, weight changes, and temperature differentials. Utilizing a controlled reciprocating motion and solid rock plug formation to safely penetrate magma reservoirs. 2. Comprehensive Claims of the Patent: Formation of a Rock Plug: Utilizing drilling fluids to create a solidified rock plug that enhances structural stability and facilitates controlled drilling. Detection Mechanisms: A suite of sensors and thresholds, including torque, weight, temperature, and gaseous species detection, to precisely identify magma contact. Reciprocating Motion: Controlled motion of the drill bit for efficient penetration of the solid rock plug. System Adaptability: Integration of casings and molten salt fluid for optimal heat transfer and system stability. Redundancy and Safety: Multiple failsafe mechanisms to ensure operational continuity and environmental protection. The Full Scope of Patent Claims: A method for drilling into magma reservoirs, including detection, plug formation, and controlled drilling rates. Advanced detection mechanisms using torque, weight, temperature, and fluid dynamics. Integration of casing installation for enhanced borehole stability. Utilization of molten salt for superior heat transfer efficiency. A system comprising drilling equipment and controllers to automate and optimize the drilling process. Comprehensive configurations for detecting pump pressure changes, temperature variances, and gaseous outputs. Scalability for diverse geothermal conditions and high-capacity energy production. Pioneering Global Energy Solutions "This patent positions Magma Power as the definitive leader in magma-based geothermal energy," said Richard McDonald , Chief Strategy Officer of Magma Power. "Our technology is designed to address the urgent need for sustainable, baseload energy, meeting the demands of industries ranging from AI data centers to green fuels and manufacturing." This breakthrough comes on the heels of Magma Power's announcement of a $20 billion AI data center powered entirely by magma energy. The integration of this new patent ensures the scalability and reliability of such ambitious projects, providing a renewable energy source capable of meeting global demands. Impact and Global Vision Magma Power's patented system is designed to produce baseload power, offering stable and reliable energy at costs up to 50% lower than market rates. Its adaptability supports applications such as powering AI data centers and other energy-intensive facilities. The company is actively pursuing projects worldwide, leveraging its patented technology to make renewable energy more accessible and sustainable. Pioneering Global Energy Solutions Magma Power LLC is now in advanced discussions with governments, land developers, power plant engineering firms, and a well-known and respected drilling company to implement its groundbreaking Magma Power TM technology in a $20 billion project to develop the world's largest AI data center powered entirely by renewable energy. "The level of interest and collaboration we're seeing from these partners highlights the transformative potential of Magma Power TM ," said Richard McDonald , Chief Strategy Officer of Magma Power. "This AI data center is designed to consume 10 gigawatts of baseload power sourced directly from magma reservoirs, addressing the insatiable demand for sustainable energy in the AI sector." Goldman Sachs estimates that by 2030, data center power demand will exceed 1,000 terawatt hours (TWh), requiring over 80 gigawatts of installed power capacity. "Our project could meet more than 10% of global AI power demand by 2030," McDonald continued, "and all without emitting a single molecule of carbon or burning an ounce of fossil fuels." McDonald further emphasized the comparative advantages of Magma Power TM : "Wind and solar face significant limitations in delivering low-cost baseload power for critical infrastructure like data centers, and nuclear comes with long-term environmental challenges. Magma Power TM is the sustainable, scalable solution the world needs." This breakthrough comes on the heels of Magma Power's newly issued patent, which ensures the scalability and reliability of such ambitious projects, providing a renewable energy source capable of meeting global demands. About Magma Power LLC: Magma Power LLC, (visit MagmaPower.com) with headquarters in Tampa, Florida , with additional offices in New York City and Houston , is a pioneering energy technology company dedicated to developing cutting-edge solutions for harnessing renewable energy. Magma Power, LLC has secured fourteen worldwide patents covering all aspects of the production of green energy, energy-intensive manufacturing, green fuels, and other products using Magma Power TM . Magma Power LLC has also filed an additional forty-six global patents covering all aspects of magma power production, with over 1,000 patent claims pending related to this revolutionary new green energy source. Magma power is a virtually unlimited source of green, renewable, baseload energy that U.S. government researchers in the 1970s, including those at Sandia National Laboratories, concluded could meet the Earth's energy needs for the next several thousand years. The work of Magma Power LLC has taken the initial insights from the Sandia Labs test and developed them into robust, patent-protected technology ready for commercial deployment. Given the inability of wind and solar to provide stable baseload renewable power, there is no long-term alternative to magma power for renewable energy. Magma Power is Inevitable. It's not a question of if magma power will power the Earth – but when. Energy is civilization, and the next several thousand years of civilization will be driven by Magma Power TM . For media inquiries, please contact: Richard McDonald Chief Strategy Officer rmcdonald@magmapower.com View original content: https://www.prnewswire.com/news-releases/magma-power-llc-secures-milestone-15th-patent-further-solidifying-plans-for-20-billion-magma-powered-ai-data-center-302336658.html SOURCE Magma Power © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Previous: 123 jilibet
- Next: jilibet 018