TVS Motor Company Appoints Peyman Kargar as Director and Chief Executive Officer

 BENGALURU, India - Friday, 28. August 2026

Peyman Kargar appointed Director and Chief Executive Officer of TVS Motor Company, effective January 27, 2027

K. N. Radhakrishnan to continue as Director and Chief Executive Officer until then and subsequently will serve as Non-Executive Director up to the date of the ensuing AGM scheduled in July 2027

Appointment supports TVS Motor Company's next phase of growth and innovation

 

(BUSINESS WIRE) -- TVS Motor Company, part of TVS VENU and a leading global manufacturer of two and three-wheelers, today announced the appointment of Peyman Kargar as Director and Chief Executive Officer, effective January 27, 2027.

Peyman will succeed K. N. Radhakrishnan, who will continue in his role until then to ensure a seamless transition. Following the transition, Radhakrishnan will serve as Non-Executive Director up to the date of the ensuing AGM scheduled in July 2027. He has been a tremendous leader and played a pivotal role in the growth of TVS Motor Company.

The leadership transition comes as TVS Motor Company builds on strong business performance and continues to consolidate its position in India and expand its global presence. In FY2025-26, the company achieved a record performance, selling 5.9 million vehicles globally and delivering 30% revenue growth.

Peyman currently serves as President, International Business. He brings more than three decades of global automotive leadership experience across Europe, Asia, Africa and the Middle East, having held senior leadership positions with some of the automotive industry's most recognised global brands. His experience spans the full value chain, from product development and R&D to manufacturing, quality, sales and marketing, giving him significant insight into the factors that drive long-term success in the mobility industry. Under his leadership, International Business has become an increasingly important contributor to TVS Motor Company's global expansion. Today, the business contributes 29% of the company sales volume and is growing at 33%.

In his new role, he will lead the company as it focuses on further growing its business in India and globally through product innovation, premiumisation and expansion into developed markets.

Sudarshan Venu, Chairman, TVS Motor Company, said: "This appointment marks an important step for TVS Motor Company as we prepare for the future. Peyman is an accomplished global leader with deep industry experience, strategic vision and a strong understanding of customers and markets. As President, International Business, he has already made a meaningful contribution to our business, and I am confident he is the right person to lead TVS Motor Company and further strengthen our position among the world's leading mobility companies.

At TVS Motor Company, our values and culture are fundamental to who we are and how we operate. I am confident that Peyman will continue to build on these values and work towards our vision of transforming the quality of life of people across the world through mobility solutions that are exciting, responsible, sustainable and safe.

I would also like to thank K. N. Radhakrishnan for his outstanding contribution to TVS Motor Company and the wider TVS VENU group over many years. His leadership, passion, and commitment have helped shape the company into the strong organisation it is today. I am personally grateful for his valuable counsel, guidance and support."

Peyman Kargar, President, International Business, TVS Motor Company, said: “It is a privilege to be appointed as Chief Executive Officer of TVS Motor Company. Building on our momentum, we are entering into a new phase of growth, expanding our presence and further consolidating our position in India and global markets."

As we do so, the guiding principles of the TVS Way and its values will always be the North Star. I will be focused on realising the company’s vision and strengthening our technology leadership, AI capabilities, commitment to quality, and customer centricity. Together, these principles have helped create a culture where individuals and teams can thrive, innovate and deliver exceptional outcomes.

I look forward to working closely with our teams in India and around the world to strengthen our position in key markets, deliver for our customers and build on the foundations we have created."

K. N. Radhakrishnan, Director & CEO, TVS Motor Company, said: "It has been a privilege to serve TVS Motor Company as CEO and work alongside an exceptional team. I am grateful for the support, commitment and dedication of colleagues across the business, whose efforts have shaped the company that we are today.

I am confident Peyman will lead TVS Motor Company with distinction and wish him every success in the role and I look forward to supporting a smooth transition over the coming months."

About TVS Motor Company

TVS Motor Company (BSE: 532343 and NSE: TVSMOTOR), part of TVS VENU, is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in a 100-year legacy of trust, value and passion for customers, the company takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Its products lead in their respective categories in the J.D. Power IQS and APEAL surveys. The company has been ranked No. 1 in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Its group company, Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. TVS Motor Company endeavours to deliver the most superior customer experience across the 90+ countries in which it operates.

For more information, please visit www.tvsmotor.com.

 

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For more information, please write to:

Andrew Roberts – Andrew.roberts@tvsmotor.com

Kanika Mehta – Kanika.Mehta@tvsmotor.com

 

JUST FOR LAUGHS REVEALS THE SEVEN WINNERS OF THE 2026 EDITION FOR THE MONTREAL AND QUEBEC FESTIVALS

 ELODIE POUX WINS THE WORLD COMEDY AWARD AND JESSÉ IS CROWNED REVELATION OF THE YEAR

You can find the full press release here

(BUSINESS WIRE)-- Being recognized by Just for Laughs can be a career-defining milestone, cementing a comedian’s place in the industry or giving their career a fresh boost. Following the conclusion of its Montreal and Quebec festivals, Just for Laughs announced the winners of its 2026 awards today – seven distinctions honoring the artists who made a particularly strong impression this year through the strength of their talent, the quality of their work, and the originality of their artistic approach.

For more than four decades, Just for Laughs has helped discover and showcase generations of comedians from around the world. Receiving one of its awards means becoming part of that legacy and earning recognition that can serve as a real springboard: a crowning achievement for some, a revelation for others, and sometimes the beginning of a whole new chapter.

“Through its awards, Just for Laughs pays tribute to artists, creators and trailblazers shaping the future of comedy. These honors celebrate the talent, boldness, and impact of those who help make comedy a universal language capable of bringing cultures closer together, building bridges between communities, and making the whole world laugh” , explains Sylvain Parent-Bédard, President and CEO of Just for Laughs.

“A Just for Laughs award is more than just a trophy: it’s a way of telling an artist that their work has made a lasting impression. Over the years, we’ve seen how recognition can help bring a new talent into the spotlight, affirm an approach, or give a career fresh momentum. This year, once again, we wanted to recognize the artists and creators who impressed us with the strength of their creative approach, their dedication, and the quality of their work. We’re extremely proud to help shine a spotlight on their work and, above all, to see them continue on their journey with this recognition under their belt” , emphasizes Josée Charland, Vice-President and Head of Programming & Talent at Just for Laughs.

Just for Laughs | HAHAHA.com

The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

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Visa Expands Support for its Clients and the Industry as Organizations Navigate New AI Era of Cybersecurity

 SAN FRANCISCO - 

Latest Visa Vulnerability Agentic Harness release moves AI-powered cyber risk management from discovery to validated remediation

New services from Visa Consulting & Analytics help clients identify the vulnerabilities that matter most and act before bad actors do

 

(BUSINESS WIRE)--Visa (NYSE: V) today announced enhancements to its cybersecurity portfolio to help organizations identify and fix vulnerabilities more effectively. Unveiling the next evolution of the Visa Vulnerability Agentic Harness (VVAH), its open-source, model-agnostic framework, Visa is helping organizations significantly reduce the Mean Time to Adapt (MTTA), the time between discovery and resolution of attack paths, with some resolutions shrinking from weeks to hours.

And to help clients navigate this evolving threat landscape, Visa also announced the expansion of its Visa Consulting & Analytics (VCA) Cybersecurity Advisory Practice with new advisory services designed to help clients assess risk, prioritize remediation efforts and strengthen resilience in an evolving threat environment.

"AI is compressing the time between vulnerability discovery and exploitation, which means defenders need a faster, more reliable path to action," said Rajat Taneja, President, Technology, Visa. "By advancing VVAH and expanding our cybersecurity advisory capabilities, we're helping organizations move from insight to validated remediation while strengthening resilience in an increasingly AI-driven threat landscape."

Expanding VVAH

Originally released following Visa's participation in Anthropic's frontier AI cybersecurity initiative, Project Glasswing, VVAH demonstrated how AI can help security teams uncover vulnerabilities, assess exploitability and generate structured findings. The latest release extends that workflow beyond discovery into remediation and validation.

Key enhancements include:

Closed-loop remediation: Structured feedback helps teams refine fixes that fail validation without restarting the process.

Flexible model choice: Organizations can now deploy approved Anthropic models and OpenAI models, in addition to any other AI model through configuration rather than code changes.

Greater visibility: Optional real-time progress views provide additional transparency into long-running scans and remediation workflows.

The framework is designed to help organizations discover, triage, remediate and validate vulnerabilities within a single structured workflow.

New Cybersecurity Services

To help organizations operationalize those insights, Visa Consulting & Analytics is introducing three new cybersecurity advisory services informed by Visa's experience in AI-powered security:

AI Cyber Leadership Education – Executive workshops, trainings and Visa University certification courses led by Visa's AI and cybersecurity specialists, sharing lessons from Visa’s experience with frontier AI cybersecurity, helping leaders prepare for an increasingly AI-driven threat environment.

VVAH-Informed Cybersecurity Maturity Assessment – Helps organizations apply VVAH framework to identify and evaluate potential vulnerabilities, understand areas of risk and prioritize remediation efforts.

VVAH Cyber Risk Prioritization and Roadmap – Provides strategic guidance to help organizations evaluate findings, prioritize remediation efforts, and develop a long-term cyber risk management roadmap.

"Finding vulnerabilities is no longer the hardest part. Speed to remediation is the new battleground. When AI-enabled attackers move faster and probe at scale, companies need AI-powered defenses," said Carl Rutstein, global head of Visa Consulting & Analytics. "Our enhanced cybersecurity advisory services combine insights from implementing frontier AI models for cybersecurity, VVAH, and decades of payments expertise to help clients prioritize risk areas, act quickly and build sustainable cyber resilience."

Over the past year, Visa Consulting & Analytics' Cybersecurity Advisory Practice has supported clients across a range of cybersecurity advisory engagements intended to help clients evaluate cybersecurity maturity, assess areas of cyber risk, and identify potential priorities for strengthening risk management and operational resilience. One example is CAIXA Cartões, which worked with Visa to support its cybersecurity maturity assessment and help prioritize its risk management and operational resilience initiatives:

"At CAIXA, we understand that cybersecurity is a fundamental pillar for customer trust and business sustainability in an increasingly complex digital environment,” said Lessandro Thomaz, Executive Director at CAIXA Cartões. “Our partnership with Visa has helped broaden our strategic perspective on cybersecurity by providing a structured assessment of the maturity of our processes and supporting the prioritization of initiatives focused on risk management and operational resilience. Projects like this reinforce the importance of collaboration between financial institutions and strategic partners to anticipate challenges, strengthen capabilities and deliver increasingly secure and reliable solutions to our customers."

Growing Momentum Across the Security Community

Since its open-source release in June 2026, VVAH has been downloaded by tens of thousands of developers across the world, reflecting growing interest in practical AI-powered vulnerability management. Visa also recently joined industry initiatives to further support the development of safe, secure and open practices as frontier AI continues to evolve. As a part of NVIDIA’s Open Secure AI Alliance, Visa is contributing VVAH as a model-agnostic framework, and through IBM and Red Hat’s Project Lightwell initiative, Visa is collaborating with other organizations to help secure open-source software.

For more information, explore the Visa Vulnerability Agentic Harness on GitHub or learn more about Visa's Value-Added Services cybersecurity offerings here.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

 

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Media Contact

Conor Febos

cfebos@visa.com

Uniphore and Tech Mahindra Partner to Deliver an Agentic AI Factory for the Enterprise

 PALO ALTO, Calif. 

Partnership enables the development of domain-specific Small Language Models and AI agents on Uniphore's Business AI Cloud for enterprise clients across EMEA and North America.

 

(BUSINESS WIRE)--Uniphore, the Business AI Company, and Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, today announced a partnership to co-build and deliver agentic AI solutions for enterprise clients globally. The partnership combines Uniphore's Business AI Cloud (BAIC) platform with Tech Mahindra's deep digital business transformation expertise and global delivery capabilities, establishing an Agentic AI Factory to accelerate AI adoption at scale within Tech Mahindra and for its customer industry verticals.

As part of the partnership, Tech Mahindra will integrate Uniphore's BAIC platform into its Agentic AI Factory, enabling the development, deployment and management of purpose-built small-language models (SLMs), AI agents and industry-specific solutions. Uniphore's platform is designed to unify enterprise data, knowledge, models and AI agents with built-in security and governance, providing the infrastructure required to build reliable, scalable agentic AI capabilities aligned to real business workflows.

As enterprises seek to move beyond AI experimentation and achieve measurable business outcomes, agentic AI, systems capable of reasoning, planning and autonomously executing multi-step tasks, represents the next frontier of enterprise value creation. The combination of a proven agentic platform and the implementation expertise to deploy it at scale addresses a critical gap organizations face as they look to operationalize AI across their most complex workflows.

“Enterprises are increasingly looking to move beyond generic AI to solutions that are deeply contextual, domain-aware, and outcome-driven,” said, Birendra Sen, President, Business Process Services, Tech Mahindra. “Our partnership with Uniphore builds on our efforts in that direction. This partnership will enable our clients to accelerate AI adoption with precision, unlocking tangible business value across key sectors like BFSI and Retail.”

The partnership will initially focus on two high-priority industry domains. In Retail, the companies will co-develop solutions targeting Strategic Sourcing, enabling enterprises to apply agentic AI to procurement workflows, supplier intelligence and cost optimization. In Banking, Financial Services and Insurance (BFSI), the initial solutions will address Unclaimed Benefits and Claims Processing, areas where accuracy, compliance and speed of resolution are critical to both business performance and customer outcomes.

“Tech Mahindra brings domain expertise across 90 countries and 1,100+ global clients,” said Carl Borsody, Chief Revenue Officer at Uniphore. “Together, we are combining Tech Mahindra’s expertise with our Business AI Cloud that brings the sovereign, composable foundation to extend an Agentic AI Factory into a repeatable delivery motion, starting in BFSI and Retail and reaching additional industries and regions from there.”

Together, Tech Mahindra and Uniphore are advancing a practical, scalable path to enterprise AI, one that prioritizes domain relevance, operational readiness and measurable business outcomes. While the initial focus spans Retail and BFSI, the Agentic AI Factory model is designed to extend to additional industries and geographies in the coming months, strengthening AI-driven transformation across Tech Mahindra's global client base.

About Uniphore

Uniphore is the Business AI Company powering the agentic enterprise. The Business AI Cloud is the only sovereign, composable and secure AI platform that enables businesses to rapidly adopt, significantly transform and immediately unlock the value of their data.

Trusted by more than 2,000 of the world’s largest enterprises and recognized by Gartner, Forrester, IDC and the Deloitte Fast 500, Uniphore is where enterprise AI moves from ambitions to production. Learn more at www.uniphore.com.

About Tech Mahindra

Tech Mahindra (NSE: TECHM, BSE: 532755) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 146,000+ professionals across 90 countries, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative’s Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com

 

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Email: media.relations@techmahindra.com

 

Syria marks first international card transaction in more than 15 years with Mastercard and QNB Group

 Damascus, Syria. - Thursday, 27. August 2026 AETOSWire

 

The transaction follows the reconnection of the country’s payments ecosystem to Mastercard’s global network

The first payment paves the way for international card acceptance in Syria

 

Mastercard, QNB Group have processed Syria’s first international card payment in more than 15 years, marking an important milestone in the modernization of Syria’s payments ecosystem.

Following the technical reconnection of Syria’s payments ecosystem to Mastercard’s global network, QNB Syria processed the first point-of-sale (POS) transaction at an eligible approved local merchant using an internationally issued Mastercard card.

The transaction establishes a foundation for the acceptance of international payments in Syria, helping connect consumers, businesses and financial institutions to the global digital economy and support the country’s longer-term economic development.

“The completion of Syria’s first international card transaction in more than 15 years is an important step in modernizing the country’s payments ecosystem. This achievement demonstrates the value of collaboration between the public and private sectors in enabling secure international payment acceptance, facilitating commerce and supporting sustainable economic development,” said H.E. Mohammed Safwat Raslan, Governor of the Central Bank of Syria.

Commenting on the achievement, Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB Group, said: “The successful completion of the first international card transaction represents an important step in the development of Syria’s payments landscape. By connecting merchants to international payment capabilities, we are enabling businesses to offer customers greater choice and convenience while supporting the transition towards a more modern and secure digital payments ecosystem. This achievement also reflects the Group’s continued commitment to payment innovation and digital transformation across the markets in which it operates.”

The successful transaction demonstrates the readiness of the infrastructure established to enable internationally issued Mastercard cards to be accepted in Syria. It also represents an important step towards broader secure digital payment acceptance across the market.

“At Mastercard, we see this first transaction as an important milestone in the evolution of Syria’s payments ecosystem. By working closely with the Central Bank of Syria and QNB Group, we are helping advance a more connected, secure and inclusive payments environment. This achievement marks an important first step towards expanding access to global payment capabilities and broader international card acceptance across the market,” said Adam Jones, Division President, West Arabia, Mastercard.

This progress reflects Mastercard’s broader commitment to supporting a modern, secure and inclusive payments ecosystem in Syria. The company will continue to work with the Central Bank of Syria, financial institutions and other ecosystem partners to advance digital payment adoption and contribute to the continued modernization of the country’s financial ecosystem.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

About QNB

QNB Group is a leading financial institution in the Middle East and Africa and one of the most valuable banking brands in the region. Present in more than 28 countries across Asia, Europe and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence worldwide.

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Mastercard Communications

Sarah Saleh

Sarah.Saleh@mastercard.com

74% of Shoppers Use AI for Discovery—NIQ Showcases What That Means for the Consumer Purchase Journey in New Report

 CHICAGO - Thursday, 27. August 2026 AETOSWire Print 

New NIQ & World Data Lab report reveals how AI, retail media, and social commerce are transforming the consumer purchase journey

 

(BUSINESS WIRE)--Consumers are increasingly turning to new technologies to help navigate a more complex shopping landscape. Nearly three-quarters of shoppers now use AI for product discovery, while retail media has grown into a $184 billion global market. Together, these shifts are reshaping how products are discovered, evaluated, and ultimately purchased.

NIQ has released A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, a new global report in collaboration with World Data Lab showing how artificial intelligence, retail media networks, and social commerce are transforming the path to purchase and influencing which products consumers ultimately buy.

The findings build on NIQ's recently released The Commerce Revolution: Where East Meets West, which identified the convergence of Eastern commerce innovation and Western retail media monetization as a defining force reshaping global retail. Together, the reports reveal a future in which commerce intelligence becomes essential for growth.

Key findings from these reports include:

Nearly 75% of shoppers use AI during product discovery

20% of consumers already use AI as part of the shopping process

Nearly one-third of Western consumers have purchased a product after discovering it on a social platform

Nearly 60% of APAC consumers shop through social and quick-commerce channels

68% of North American consumers have never purchased through social media

“Consumers are making purchasing decisions earlier and through more channels than ever before,” said Troy Treangen, Chief AI & Product Officer at NIQ. “AI-powered recommendations, retail media, and social commerce are increasingly influencing which products consumers discover, consider, and ultimately purchase, creating entirely new opportunities—and challenges—for brands.”

According to the report, AI-powered tools are increasingly helping consumers determine where to trade up, where to save, and which brands deserve consideration. The findings suggest that AI is becoming one of the most influential forces in modern commerce, as consumers have long relied on search, reviews, and word-of-mouth recommendations to guide purchases.

This shift creates both opportunities and challenges for manufacturers and retailers. As AI-powered recommendations become more personalized, discoverability is becoming a critical growth factor. Brands that fail to optimize product content, digital shelf presence, and visibility risk becoming less visible as AI agents and recommendation engines play a larger role in shopping journeys.

As consumers become increasingly selective about where they trade up and where they seek value, AI and retail media are helping brands identify which consumers are most likely to respond to premium messaging, promotions, and personalized offers. To learn more, visit niq.com/tale-of-two-consumers.

FAQs

What is A Tale of Two Consumers?

A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption is a global research report from NielsenIQ and World Data Lab that examines how consumer polarization, spending power, and evolving purchasing behaviors are reshaping retail and consumer goods markets worldwide.

What is the main finding about artificial intelligence and shopping?

Artificial intelligence is becoming a significant influence on product discovery, shopping decisions, and purchase journeys as consumers increasingly rely on AI-powered tools to evaluate products and recommendations.

How are consumers using AI during the shopping process?

Consumers are using AI to discover products, compare options, evaluate value, research purchases, and identify products that best meet their needs before making buying decisions.

What is retail media and why is it important?

Retail media refers to advertising and promotional opportunities offered by retailers across digital and physical retail platforms. It has become an important channel for influencing consumer purchasing decisions and driving measurable brand growth.

How is social commerce changing the path to purchase?

Social commerce allows consumers to discover, research, and purchase products directly through social platforms. This shortens the journey from discovery to transaction and creates new opportunities for brands to reach shoppers.

Why are AI-powered recommendations becoming more influential?

AI systems can personalize recommendations based on consumer preferences, shopping history, and behavior, making them increasingly important sources of product discovery and consideration.

What challenges do AI and digital commerce create for brands?

Brands must ensure product information, digital shelf content, availability, and online visibility are optimized for AI-powered search, recommendation engines, retail media platforms, and social commerce environments.

What does the report suggest about the future of commerce?

The report suggests that AI, retail media, and social commerce will continue to play a growing role in how consumers discover and purchase products, making commerce intelligence and digital visibility increasingly critical for growth.

About NIQ

NielsenIQ (NYSE: NIQ) is a leading consumer intelligence company, delivering the most complete and trusted understanding of consumer buying behavior and revealing new pathways to growth. By combining an unmatched global data footprint and granular consumer and retail measurement with decades of AI modeling expertise, NIQ builds decision systems that help companies turn complex data into confident action.

With operations in more than 90 countries, NIQ covers approximately 82% of the world’s population and more than $7.4 trillion in global consumer spend. Through cloud-based platforms, advanced analytics and AI-driven insights, NIQ delivers The Full View™—helping brands and retailers understand what consumers buy, why they buy it, and what to do next.

For more information, please visit www.niq.com.

© 2026 Nielsen Consumer LLC. All Rights Reserved.

About World Data Lab

World Data Lab is a data science company delivering projections of where global spending power and consumer demand are heading. By combining authoritative demographic and economic data with a proprietary, peer-reviewed forecasting methodology, World Data Lab converts long-term population and spending shifts into a single, forward-looking view of the future consumer, helping organizations identify where growth will emerge before it does.

Modeling consumer trends and demographic change through 2050, World Data Lab covers 99.5% of the world's population across 190+ countries, 9,000+ cities, and 200+ spending categories. Its core methodology, named by Nature among the 50 most influential papers of the decade, underpins both its enterprise platform, World Data Intelligence, and a suite of public tools including the World Poverty Clock.

For more information, visit worlddatalab.com.

Forward Looking Statement

This press release may contain forward-looking statements regarding anticipated consumer behaviors, market trends, and industry developments. These statements reflect current expectations and projections based on available data, historical patterns, and various assumptions. Words such as “expects,” “anticipates,” “projects,” “believes,” “forecasts,” and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future outcomes and are subject to inherent uncertainties, including changes in consumer preferences, economic conditions, technological advancements, and competitive dynamics. Actual results may differ materially from those expressed or implied in these statements. While we strive to base our insights on reliable data and sound methodologies, we undertake no obligation to update any forward-looking statements to reflect future events or circumstances, except to the extent required by applicable law.

#NIQ-General

 

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Quaise Energy Closes $180 Million Series B with $35 Million Investment from Nabors Industries and Strategic Framework to Build World's First Superhot Geothermal Power Plant

 HOUSTON - 

Final close of Series B to advance the commercialization of superhot geothermal energy, funding Project Obsidian and the continued development of Quaise’s millimeter wave drilling system

Nabors Industries and Quaise deepen relationship with strategic framework agreement spanning drilling operations, technology integration and commercial development

Series B brings Quaise's total funding to date to $280 million

 

(BUSINESS WIRE)--Quaise Energy, a leading developer of utility-scale superhot geothermal energy, today announced the final close of its Series B, raising a total of $180 million in equity financing, including a $35 million investment from Nabors Industries (NYSE: NBR), one of the world's largest land drilling contractors and a long-standing partner to Quaise. Nabors has also entered into a strategic framework agreement that supports Quaise’s mission to make superhot geothermal a commercial reality, beginning with the development of Project Obsidian, the world’s first superhot geothermal power plant. The Series B brings Quaise’s total funding to date to $280 million.

“We are unlocking the most powerful clean energy source on Earth, and the Series B signals deep conviction across a wide range of investors,” said Carlos Araque, CEO and President, Quaise Energy. “Nabors is an invaluable partner as we move millimeter wave drilling to full commercial operations at Project Obsidian and beyond.”

Nabors’ investment builds on an existing relationship with the company, and the strategic framework agreement spans drilling operations, technology integration, and commercial development. The strategic framework gives Quaise access to a dedicated land rig and Nabors’ advanced platform that integrates reservoir modeling, well design, and drilling strategy. As the drilling program advances, shared data and operational experience are expected to enhance drilling performance, reduce costs, and expedite the project timeline.

“Superhot geothermal has the potential to make clean energy ubiquitous. That is why we are excited about our close relationship with Quaise,” said Anthony G. Petrello, Chairman, President and CEO, Nabors Industries. “Quaise’s millimeter wave technology changes the equation entirely by reaching superhot rock at temperatures and depths that are inaccessible with conventional drilling, transforming geothermal from a location-dependent resource into a global energy solution. Combined with Nabors’ drilling expertise and infrastructure, we see a path to gigawatt-scale geothermal power that no other company can offer today.”

The proceeds from Series B will fund Project Obsidian, the world’s first commercial superhot geothermal power plant, and accelerate the commercialization of Quaise's millimeter wave drilling system toward depths in excess of 5 km. The Series B round's first close, announced in July 2026, was led by Prelude Ventures, with strategic investments from JERA Co., Inc. and Idemitsu Kosan, two of Japan's largest energy companies. BofA Securities and Goldman Sachs & Co. LLC advised on the fundraise.

About Quaise Energy

Quaise Energy is unlocking the Earth’s deep heat to deliver clean, reliable, baseload energy at scale—almost anywhere in the world. As both a technology innovator and project developer, Quaise builds and operates solutions that harness superhot geothermal energy far below the surface, enabling power generation that can rival the output of today’s most efficient fossil fuel and nuclear plants. With its millimeter wave drilling technology, developed after more than a decade of research at the Massachusetts Institute of Technology (MIT), Quaise’s mission is to make superhot geothermal a backbone of the modern energy system, offering affordable, zero-carbon power and true energy independence for communities and nations everywhere. https://www.quaise.com/.

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in approximately 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

Forward Looking Statement:

This press release contains forward-looking statements, including statements regarding Quaise’s future performance, business plans, and expectations. These forward-looking statements are based on assumptions deemed reasonable by Quaise at the time they were made. There is no assurance that such statements will prove accurate, and actual results may differ materially from those expressed or implied herein due to various risks, uncertainties, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on the aforementioned assumptions. Quaise assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

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Contacts

Media Contact:

Diane Hughes

Vice President, Marketing & Communications, Quaise Energy

press@quaise.com