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Winners of the Milken-Motsepe Prize in Green Energy Announced During Opening Session of Milken Institute Global Conference

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Aftrak, an initiative based out of the UK and Malawi, was awarded the $1 million Grand Prize for its easily assembled solar microgrid and custom-designed tractors

JOHANNESBURG, South Africa, May 7, 2024/APO Group/ — 

Prize program awards Aftrak the $1 million Grand Prize to advance green energy in Africa; OMNIVAT awarded runner-up prize of $250,000; The organisations also launch a new FinTech Award in the next installation of the Prize program; winners will be selected in May 2025.

The Milken Institute (https://apo-opa.co/44yU0nF) and the Motsepe Foundation today announced the winners of the Milken-Motsepe Prize in Green Energy, a $2 million innovation competition to reward entrepreneurs working to expand access to reliable, affordable, and sustainable off-grid electricity in Africa. The winners were announced at the Milken Institute Global Conference in Los Angeles.

Aftrak (https://apo-opa.co/4bKg4OT), an initiative based out of the UK and Malawi, was awarded the $1 million Grand Prize for its easily assembled solar microgrid and custom-designed tractors, which have tripled agricultural yield, increased farmer incomes, and provided electricity to remote communities. The runner-up award of $250,000 was presented to South Africa-based OMNIVAT (www.OMNIVAT.Tech) for its containerized electricity generation and storage system, which provides clean water, clean energy, and Wi-Fi enriched by virtual reality support for remote communities.

The Milken-Motsepe Prize in Green Energy is the second in the Milken–Motsepe Innovation Prize Program, a series of multiyear, multimillion-dollar global innovation competitions and awards aimed at advancing technological progress toward the UN Sustainable Development Goals (SDGs). The first competition in this program, the Milken–Motsepe Prize in AgriTech, was launched in 2021, and focused on addressing the goals of no poverty and achieving zero hunger. 

Rigorous Judging Process

After launching in November 2022, hundreds of entrepreneurs from 79 countries on six continents registered to compete for the Milken-Motsepe Prize in Green Energy, and 160 of those submitted technological design and business models. In June 2023, an independent panel of expert judges carefully selected 20 semi-finalists to receive $20,000 to develop and test their innovations.

Each of the teams underwent a rigorous, independent judging process, which assessed their innovation’s potential to deliver 60 kilowatt hours of off-grid electricity in a 24-hour period using only sustainable sources. Five teams were then chosen to advance to the Finalist Round. Each team received an additional $70,000 and showcased their innovations in a live demonstration in partnership with Stellenbosch University in South Africa.

This is a global community of entrepreneurs who believe in imagining and building a better, more abundant, and sustainable world

“Meeting the teams and witnessing their work and determination to solve one of the biggest challenges facing Africa was truly inspiring,” said Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation. “We congratulate the Green Energy winners and all the finalists. Your innovations show such promise, and we will be watching with pride as you bring your technologies to market.”

The third Milken-Motsepe Prize, focused on FinTech, launched at the 2024 Milken Institute Global Conference. The prize will award companies that demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets.

The Milken-Motsepe Prize in FinTech offers $2 million in prizes, with a $1 million Grand Prize for the winning company. Registration is open until August 6.

The transformative potential of FinTech lies in its capacity to empower individuals to start and grow a business, even in the most remote communities. By lowering transaction costs, streamlining processes, and expanding access to capital and financial services, FinTech can enable aspiring entrepreneurs to turn their ideas into reality. The Milken-Motsepe Prize in FinTech is designed to leverage the potential of FinTech solutions to break down barriers to financial inclusion and contribute to the achievement of key SDGs, including alleviating poverty (SDG 1), promoting human well-being (SDGs 3 and 4), achieving gender equality (SDG 5), and fostering viable economic opportunities for young people (SDGs 8 and 9).

Milken-Motsepe Innovation Prize Impact

“The impact of Milken-Motsepe Innovation Prizes goes well beyond the financial awards,” said Dr. Emily Musil Church, senior director, environmental and social innovation at the Milken Institute. “This is a global community of entrepreneurs who believe in imagining and building a better, more abundant, and sustainable world. Our role is to identify and support these bold entrepreneurs and to help accelerate their success.”

The Milken-Motsepe Innovation Prize Program is a program of MI Philanthropy (https://apo-opa.co/3JSwhFM), which aims to influence the deployment of philanthropic capital to create a better world. MI Philanthropy’s work includes the Science Philanthropy Accelerator for Research and Collaboration (SPARC), which has, to date, influenced more than $2 billion in medical research funding. 

Distributed by APO Group on behalf of The Milken-Motsepe Innovation Prize Program.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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