Fast fashion is a major environmental offender, requiring massive water consumption, and producing high carbon emissions and pollution. It also leads to a surge in microplastic and textile waste. One result has been a boom in thrifting. But recycling old clothing into new items presents a much bigger challenge. The fashion industry accounts for anywhere from 4% to 10% of global greenhouse gas emissions, according to various sources, yet less than 1% of clothing is recycled into new garments. That's because ...

Core Viewpoint - Norsk e-Fuel AS and Braskem have formed a strategic collaboration to explore the integration of e-Naphtha into the plastics value chain, aiming to enhance the development of carbon-derived plastics and promote a circular economy [1] Group 1: Companies Involved - Norsk e-Fuel AS is recognized as a pioneer in Power-to-Liquid (PtL) technology [1] - Braskem is identified as a global leader in polymers and biopolymers [1] Group 2: Objectives of the Collaboration - The partnership seeks to accelerate the development of plastics that utilize carbon emissions that would otherwise be released into the atmosphere [1] - Both companies are committed to reinforcing a circular future through this collaboration [1]

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Core Insights - ReGen III Corp. has formed a Special Committee to explore strategic pathways for entering the multi-billion-dollar data center and AI immersion cooling market [1][5][7] - The immersion cooling market is projected to grow from USD 2.1 billion in 2024 to USD 7.2 billion by 2030, indicating a compound annual growth rate (CAGR) of over 22% [2][5] - Group III base oils are increasingly specified as dielectric fluids in immersion cooling due to their high purity and chemical stability, with hydrocarbon-based fluids expected to hold a 52.3% market share [3][5] Market Dynamics - Data centers are projected to consume up to 12% of U.S. electricity by 2028, with immersion cooling potentially reducing energy consumption for cooling by up to 90% [2][5] - The demand for advanced cooling solutions is driven by leading chip and AI innovators, positioning immersion cooling as essential for next-generation data centers and hyperscale computing [2][5] Sustainability and Competitive Advantage - ReGen III's high-quality Group III re-refined base oils achieve up to 82% lower CO₂e emissions compared to virgin crude-derived oils, aligning with sustainability goals [4][10] - The company's patented process supports longer product lifetimes and reduced environmental impact, meeting the criteria of organizations advocating for sustainable immersion fluids [4][10] Strategic Initiatives - The Special Committee will evaluate opportunities for integrating ReGen III's base oils into immersion cooling and other applications, including joint ventures and long-term supply partnerships [7][8] - The formation of the Special Committee reflects a disciplined approach to exploring new commercial applications while maintaining a focus on sustainable production [8]

Core Insights - Cisco has achieved a record quarter and is positioned for its best year ever, reflecting strong performance and customer confidence in its technology [1][2][19] Customer Engagement - The company is seeing significant spending from hyperscalers, which are advanced customers that conduct deep analyses before making technology decisions, indicating strong trust in Cisco's innovation [2][3] - New customer acquisitions include major hyperscalers in the U.S. and sovereign deals in the Middle East, with expansion into neo cloud markets in Europe and Southeast Asia [4][5] Financial Performance - Cisco reported $1.3 billion in business from top hyperscalers, with a focus on five key companies known for their strong cash flow [5] - The company has over $2 billion in its pipeline for neo cloud, sovereign cloud, and enterprise solutions, indicating a robust growth trajectory [6] Technology and Innovation - Cisco's technology evolution starts with hyperscalers, moving through telco spaces and into enterprise, showcasing a natural progression in technology adoption [7] - The company has made significant investments in software, particularly in security, and has seen growth in next-generation firewalls and Splunk products [10][12] Market Dynamics - The current market differs from 2000, as today's customers have strong financials and view technology investments as essential rather than optional [15][16] - There is a substantial opportunity for growth in AI and security, with the company open to both organic and inorganic strategies to enhance its offerings [14][18]

Core Insights - Martela Corporation reported improved revenue and operating results for January-September 2025 compared to the same period in 2024, with a profitable operating result in the third quarter [1][10][12]. Financial Performance - Revenue for July-September 2025 was EUR 20.7 million, unchanged from the same period last year, while revenue for January-September 2025 was EUR 70.9 million, reflecting a 14.5% increase from EUR 61.9 million in 2024 [5][10]. - The operating result for July-September 2025 was EUR 0.3 million, a significant improvement from a loss of EUR 0.9 million in the same period last year [5][12]. - The overall operating result for January-September 2025 was a loss of EUR 1.2 million, improved from a loss of EUR 4.8 million in 2024 [5][11]. - Earnings per share for July-September 2025 were EUR -0.09, compared to EUR -0.28 in the same period last year [5][9]. Market Outlook - Martela anticipates an increase in revenue for the full year 2025 compared to 2024, with expectations of operating profit close to zero [4]. - The company noted a slight decrease in new orders by about 1% during the review period, with revenue growth primarily in Finland, while other markets saw declines [10]. - The competitive landscape remains intense, but pressure on margins has lessened compared to the second half of 2024 [16]. Strategic Focus - The company is concentrating on improving profitability and cash flow, with measures already yielding commendable results expected to be fully realized later in the year [13]. - Martela aims to enhance customer engagement and develop service channels while maintaining a focus on sustainability and circular economy principles [14][15].

Core Insights - The RealReal reported a strong third quarter for 2025, with gross merchandise value (GMV) increasing by 20% year-over-year and total revenue rising by 17% compared to the same period in 2024 [1][9] - The company achieved a significant growth in direct revenue, which surged by 47% year-over-year, while consignment revenue grew by 15% [1][9] - Adjusted EBITDA margin improved to 5.4%, reflecting an increase of 380 basis points from the prior year [1][9] Financial Performance - Third quarter 2025 GMV reached $520 million, up from $433 million in the same quarter of 2024 [9] - Total revenue for the third quarter was $174 million, compared to $149 million in the prior year [9] - Gross profit was reported at $129 million, an increase of $18 million year-over-year, with a gross margin of 74.3%, down 60 basis points from the previous year [9] Guidance and Outlook - The company raised its full-year guidance based on positive market conditions and ongoing growth momentum [4][6] - For Q4 2025, GMV is expected to be between $585 million and $595 million, with total revenue projected between $188 million and $191 million [6] - Adjusted EBITDA for Q4 is anticipated to be in the range of $17.5 million to $18.5 million, with full-year adjusted EBITDA expected between $37.7 million and $38.7 million [6] Strategic Initiatives - The CEO emphasized the importance of building trust with sellers and enhancing customer experience through improved consignor relationships and AI initiatives [2] - The company aims to continue shaping the luxury resale market, leveraging operational efficiency and customer service as key strategic pillars [2] Operational Metrics - The trailing twelve months active buyers increased to 1,024,000, marking a 7% rise compared to the same period in 2024 [9] - The average order value (AOV) reached $584, reflecting a 12% increase year-over-year [9]

Core Insights - SMX is positioned as a leader in material traceability through its molecular marking technology, which embeds proof of authenticity directly into materials [2][4][11] - The company has transitioned from a niche player to a critical infrastructure provider as global demand for supply chain transparency and traceability has surged [3][12] - SMX's partnerships across various regions and industries demonstrate its capability to implement circular economy solutions and enhance material integrity [5][6][7][8] Company Overview - SMX operates in the truth business, focusing on embedding honesty into materials rather than merely participating in sustainability efforts [1][2] - The company's molecular marking technology allows for permanent identification of materials, ensuring traceability through every stage of production and recycling [2][4] Technological Advancements - SMX's platform connects to blockchain registries, creating self-verifying records for materials such as rubber, plastics, and metals [4][11] - The technology has been recognized by the London Bullion Market Association as a security feature for gold bars, enhancing the accountability of precious metals [9][10] Market Impact - The company has established significant partnerships, such as with A*STAR in Singapore and REDWAVE in Austria, to create national and regional circular economy platforms [5][6] - SMX's initiatives are being studied as models for circular economies across ASEAN, indicating its influence on regional sustainability practices [5] Future Prospects - SMX is redefining material valuation by creating a universal language for global trade based on chemical proof and blockchain technology [11][12] - The company is positioned to support businesses in transitioning to a low-carbon economy by providing access to its marking and tracking technologies [13]

Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history spanning over 140 years [2] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [2] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [2] Voting Rights and Shares - As of October 31, 2025, Tarkett has a total of 65,550,281 shares in its share capital [1] - The total number of voting rights is reported as 123,938,579, with 123,920,020 exercisable voting rights after deducting treasury shares without voting rights [1]

Core Insights - The company reported a consolidated sales decline of 1.3% year-on-year for the first nine months of 2025, totaling €2,878 million, with organic growth of 1.8% [1][4] - The third quarter of 2025 saw consolidated sales of €992 million, reflecting a 4.9% increase in organic growth and a 1.4% increase on a reported basis, despite negative currency effects [3][4] - The company aims to achieve a financial leverage ratio of less than 1.0x by the end of 2027, while maintaining a solid cash generation and controlled working capital [2][17] Sales Performance - In France, sales for the first nine months of 2025 reached €897 million, a 2.0% increase reported but a 4.1% decline in like-for-like terms [1][28] - The Americas region reported sales of €711 million, down 5.9% reported and 1.5% like-for-like, primarily due to a slowdown in the U.S. market [1][36] - The Mediterranean region experienced a strong sales increase of 7.7% reported and 34.0% like-for-like, totaling €369 million for the first nine months [1][45] Regional Analysis - The company noted a recovery in Switzerland, contributing to a 9.4% increase in sales in Europe (excluding France) for the first nine months, totaling €336 million [1][10] - In Asia, sales declined by 12.9% reported and 5.5% like-for-like, totaling €301 million, impacted by currency depreciation [1][41] - The African market saw a sales decline of 7.7% reported and 7.4% like-for-like, totaling €264 million, with challenges in Senegal affecting performance [1][49] Operational Highlights - The cement activity showed a 9.7% increase in the third quarter at constant scope and exchange rates, with volumes growing by 5.3% [3][4] - The company is ramping up production at a new kiln in Senegal, which is expected to drive operational growth and cost savings in the coming years [2][15] - The VAIA CCS project has been selected for funding by the European Innovation Fund, marking a significant step in the company's decarbonization efforts [2][16] Financial Outlook - The company confirmed its 2025 revenue and EBITDA outlook, expecting sales growth on a like-for-like basis and EBITDA growth of 2% to 5% at constant scope and exchange rates [4][17] - The financial leverage target for 2025 has been adjusted to above 1.3x due to negative currency effects and non-recurring items [17][18] - The company aims to maintain an EBITDA margin of at least 20% over the 2025–2027 period while achieving a gearing ratio of less than 1.0x by the end of 2027 [17][18]