As the aftershocks of the FTX cryptocurrency exchange collapse continue to rock the digital asset industry, some familiar accusations about the sector have been...

TOKYO, Mar 24, 2022 - (JCN Newswire) - Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of the Mitsubishi Heavy Industries (MHI) Group, launched a new MGS-R Series of diesel generator sets. Developed to support the growing needs of the digital economy, primarily targeting data centers across Asian and Middle Eastern markets, the new series also serves as a reliable backup power solution for commercial facilities such as shopping malls and office buildings.(1)
The MGS-R Series is the first upgrade to MHIET's diesel generator set lineup in over two decades following the MGS-B models introduced in the year 2000. The new series features 21 models that cover all rating categories(2). Some of the models were released in November 2021 and remaining models will be introduced in sequence by the end of 2022. The new series provides outputs ranging from 500 to 2,750 kVA for 50Hz, and 460 to 2,000 kVA for 60Hz for standby offerings. With the recent modifications to turbocharger specifications and improvement on fuel system and exhaust system to the engine, all models in the series boasts 10-second start. Newly adopting MHIET-made compact and high-power 12-cylinder engine on the 1,500kVA rating for 50Hz, the best-seller in the offerings, has made its installation area the smallest-in-class. Furthermore, overhaul interval has been extended to more than double by examining how generator sets are operated at sites.

All models in the MGS-R series are compliant with the two leading industry standards: the ISO's Class G3, the organization's highest standard for generator sets; and the standards of National Fire Protection Association of the United States. They also satisfy Tier 3 and Tier 4 standards by the Uptime Institute, a private sector organization that certifies the reliability and overall performance of data centers. These days more and more data center operators require high levels of quality compliance with various industry standards.

"At a time when reliable power is increasingly critical for commercial facilities such as data centers, we are pleased to announce that we have launched this new MGS-R Series.," said Ichiro Ichihashi, Senior General Manager, Engine & Energy Division of MHIET. "Many generator sets manufacturers purchase engines from suppliers, but we manufacture engines ourselves as well as generator sets. I believe this is our strength and our value. I am confident of the reliability and dependability of our generator sets that have sold 12,000 units worldwide." The MGS Series will be assembled at Mitsubishi Heavy Industries Engine System Asia Pte. Ltd. (MHIES-A), MHIET-owned subsidiary in Singapore. MHIET will continue expanding our MGS Series to meet the growing energy needs of customers in various industries including mission-critical applications.

(1) Learn more on Youtube:
https://youtu.be/0IbPH_peSfM
(2) "Ratings" refers to the operating conditions of generator sets as defined by the International Organization for Standardization (ISO). There are different ratings such as standby and prime depending on the required operation including operating time and size of the load to accept. A generator set's output can vary according to its rating.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comMitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of the Mitsubishi Heavy Industries (MHI) Group, launched a new MGS-R Series of diesel generator sets.

Singapore, Mar 7, 2022 - (ACN Newswire) - SGX mainboard-listed company, The Place Holdings Limited ("The Place Holdings", the "Company" and together with its subsidiaries, the "Group"), is pleased to announce that it has entered into a non-binding Memorandum of Understanding ("MOU") to acquire a 51% stake in two entities which hold the IP Rights of design patent and certain trademarks that are related to property landmark, THE PLACE, in Beijing as well as certain assets and businesses relating to the iconic attraction, Shimao Tianjie Sky Screen, in Beijing.

Highlights:

- The first acquisition relates to the intellectual Property Rights ("IP Rights") of design patent and certain trademarks that are used for the operations and management of the Sky Screen and real estate properties associated with the property landmark, THE PLACE ("THE PLACE"), in Beijing
- The recurring royalty income of the IP Rights are derived from the operation and management of the Shimao Tianjie Sky Screen and the usage of IP Rights in relation to the real estate properties associated with THE PLACE mall
- The second acquisition relates to the acquisition of certain assets and businesses relating to the Shimao Tianjie Sky Screen that are expected to generate operating revenue
- Shimao Tianjie Sky Screen ("Shimao Tianjie Sky Screen") is one of the largest sky screens in Asia, comprising 7,500 sqm of LED lights that is located next to THE PLACE
- Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen continues to be a popular venue and platform for various events, advertisements and media
- Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and they are expected to strengthen the financial performance of the Group
- There are also various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams

More information on THE PLACE and Shimao Tianjie Sky Screen can be accessed at https://www.theplacebeijing.com. After the completion of the Proposed Acquisitions, the Group is expected to receive recurring royalty income from the licensing of the IP Rights for the use in the operation and management of Shimao Tianjie Sky Screen and the real estate properties associated with THE PLACE, which is a mixed-use development built in 2006, comprising two top-tier office buildings and a high-end shopping retail mall, located at No. 9 Guanghua Road, Chaoyang District, Beijing, the heart of Beijing's Central Business District (CBD). In addition, the Group will also generate operating revenue from the operation of the Shimao Tianjie Sky Screen.

Shimao Tianjie Sky Screen is one of the largest sky screens in Asia with 7,500 sqm of LED lights across a space of 250m long and 30m wide, offering a spectacular light show experience with high-resolution imagery and state-of-the-art, immersive sound systems as well as technological features that enable interactivity.

Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen has established a strong brand and continues to be a popular venue and platform for various events, advertisements and media.

Developed by Beijing Aozhong Xingye Real Estate Development Co., Ltd, THE PLACE and Shimao Tianjie Sky Screen have quickly become a property landmark and iconic attraction in Beijing since it was unveiled to the public in September 2007.

Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and the proposed acquisitions are expected to strengthen the Group's cash flow and financial performance.

With a scalable asset-light model that can be replicated across various countries, there are also various opportunities to utilise the IP Rights and technological features of Shimao Tianjie Sky Screen to potentially develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams.

Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, "With THE PLACE and Shimao Tianjie Sky Screen having been in operations for more than 15 years, the proposed acquisitions represent direct access to a well-known property landmark and iconic attraction that are both cash-flow generative and profitable.

The revenue streams from both acquisitions can strengthen our financial performance and enhance our business agility to pursue new growth initiatives.

Based on the proven operating models of the underlying assets, the Group can adopt an asset- light business approach to pursue various collaborations and opportunities across various countries in Asia.

In addition, with evolving consumer behaviors in lifestyle and business activities, we believe that there are various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to push the boundaries of digital innovation and develop new business propositions related to the digital economy."

Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Place Holdings Limited, is pleased to announce that it has entered into a non-binding MoU to acquire a 51% stake in two entities which hold the IP Rights of design patent and certain trademarks that are related to property landmark, THE PLACE.