Developed with customers leading the next wave of legal AI innovation, Protégé uses AI agents and generative AI, grounded in customer and LexisNexis content, for next-level productivity and outcomes
NEW YORK – LexisNexis® Legal & Professional, a leading global provider of AI-powered analytics and decision tools, today announced the U.S. general availability of LexisNexis Protégé, a personalized AI assistant that intelligently powers productivity, drives next-level work quality, and enables legal and business professionals to unlock new economic value. Built with the highest levels of security, compliance, and privacy, Protégé is initially available within the Lexis+ AI® legal workflow solution and Lexis® Create+ for legal AI drafting in Microsoft Word and will soon be ubiquitous across LexisNexis products.
Developed responsibly with human oversight, agentic AI capabilities in Protégé can autonomously complete tasks based on user goals, including reviewing its own work and identifying areas where it can improve its own output. For the customer, this means simplified AI use, accelerated productivity, and enhanced value.
Leveraging proprietary agentic and generative AI technology from LexisNexis, Protégé can:
Draft full, tailored transactional documents, as well as litigation motions, briefs, and complaints, and check its own work before turning them over to human legal professionals for final review. Documents can be further edited directly in Lexis+ AI or exported to Microsoft Word.
Suggest legal workflow actions based on the type of documents uploaded (e.g., Draft a Legal Memo, Summarize, Draft an Argument) and dynamically generate follow-up prompts that are personalized to the lawyer’s workflow.
Provide prompt assistance, proactively suggesting refinements to queries to help the user accomplish their goals efficiently.
Allow users to securely upload and save tens of thousands of legal documents to Protégé Vault. On each Vault, users can perform numerous AI tasks to summarize, draft, research, and more.
Draft deposition questions based on fact patterns, descriptions of witnesses, and other relevant information.
Draft discovery documents, including Interrogatories, Request for Production of Documents, and Request for Admissions.
Generate a graphical timeline of events from uploaded documents.
Ask questions of or summarize large, complex documents of up to 1 million characters or approximately 300 pages—a 250% increase over previous processing limits.
Enable users to upload transactional documents and conduct streamlined, systematic analyses with speed and accuracy.
Review an uploaded motion or argument and find similar motions and arguments in the LexisNexis system to help the user refine their argument, find stronger authority, and identify potential weaknesses.
Link quotes in litigation filings back to source documentation to confirm accuracy.
And much more.
“LexisNexis is focused on improving outcomes and unlocking new levels of efficiency and value in legal work to support our customers’ success,” said Sean Fitzpatrick, CEO of LexisNexis North America, UK, and Ireland. “Our vision is for every legal professional to have a personalized AI assistant that makes their life better, and we’re delighted to deploy that through our world-class, fully integrated AI technology platform.”
Protégé can be personalized and grounded in a customer’s own documents and past work product via Document Management System (DMS) integration as well as the LexisNexis comprehensive repository of trusted legal content and metadata. This capability gives users:
Customization control for better results and a more tailored AI experience, empowering them to share their role, practice area, jurisdiction, and style preferences to ensure the drafting style and output are highly personalized.
Ability to query, extract clauses, and draft from their firm’s knowledge base, streamlining access to necessary precedents. DMS integrations include iManage, NetDocuments, Sharepoint, and others.
More than 50 customers collaborated closely with LexisNexis on the development of Protégé as part of the company’s customer-driven innovation approach. This included leading Am Law 50 firms, small law firms, corporations, government offices, and law schools, including the University of California, Berkeley School of Law and the University of Notre Dame.
The LexisNexis global technology platform seamlessly integrates each wave of AI innovation, including extractive AI, which finds relevant results within data and provides deep insights; generative AI, which excels at creating new content from data based on user-entered prompts or instruction; and now agentic AI, which can intelligently and independently perform tasks on a user’s behalf.
About LexisNexis AI Development
LexisNexis customer-driven AI innovation focuses on analytics and decision tools that solve complex problems and enhance value. The company responsibly develops safe AI solutions with human oversight, backed by advanced encryption and privacy technology. Its global technology platform seamlessly integrates extractive, generative, and agentic AI within a scalable, multi-cloud infrastructure to drive rapid innovation and continuously improve answer quality, accuracy, and speed. A proprietary Retrieval Augmented Generation (RAG) platform grounds large language model (LLM) answers in a comprehensive repository of trusted legal content and metadata, delivering high-quality answers and validated citations. Its multi-model approach selects the best AI model for each use case, and model fine-tuning ensures high performance of domain-specific, personalized LLMs, supported by partners Mistral, Anthropic, AWS, and Microsoft. The company employs over 2,000 technologists, data scientists, and experts to develop, test, and validate solutions in line with RELX Responsible AI Principles.
About LexisNexis Legal & Professional
LexisNexis® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,800 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
Media Contact
Dana Greenstein Director of Communications, North America & UK LexisNexis Legal & Professional 212-448-2163 dana.greenstein@lexisnexis.com
New York, NY – January 24, 2025 – In a Fast-Track SWIFT challenge brought by oral care competitor GuruNanda LLC, BBB National Programs’ National Advertising Division recommended that Oral Essentials, Inc. discontinue the claim that its Lumineux Whitening Mouthwash is “Enamel Safe.”
Fast-Track SWIFT is an expedited process designed for single-issue advertising cases brought to the National Advertising Division (NAD). At issue was whether Oral Essentials had a reasonable basis to claim that its Lumineux Whitening Mouthwash is “Enamel Safe.”
The challenged claim appeared on the Lumineux Whitening Mouthwash label and in other advertising. In some iterations the “enamel safe” claim appears close to a “clinically proven” claim, unconnected to any specific claim in the advertising. Oral Essentials relied on the results of a Scanning Electron Microsopy (SEM) study on the effects of the use of Lumineux Whitening Mouthwash on enamel tooth chips after being treated in the manner instructed on the packaging.
NAD found that Oral Essentials’ evidence did not support the unqualified safety claim and noted that while the 30-day SEM study has a number of hallmarks of a well-controlled study and did not indicate any negative effect on the enamel samples studied, it was not a good fit for the challenged unqualified “Enamel Safe” claim, which NAD found reasonably conveys a message that daily use of the product will have no negative impact on enamel.
Therefore, NAD recommended that Oral Essentials discontinue the challenged “Enamel Safe” claim. NAD noted that nothing in its decision precludes Oral Essentials from making other truthful and non-misleading claims regarding the safety of its Lumineux Whitening Mouthwash, including claims relating to the product’s effect on enamel.
In its advertiser statement, Oral Essentials stated that “while strongly disagreeing with NAD’s decision, as a supporter of the advertising industry’s system of voluntary self-regulation, Oral Essentials will follow NAD’s recommendation.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg Email: jrosenberg@bbbnp.org Job Title: Media Relations
Delphos Brings Crucial Access to Funding for SMEs in LATAM, says Bart Turtelboom, Chairman
January 23rd, 2025, SANTIAGO, CHILE — Delphos brings crucial access to funding for SMEs in the Latam region. Maxxa, a leading Chilean fintech focused on serving SMEs, has closed a $10.6M transaction with Symbiotics, a premier Swiss-based impact-focused fund manager.
This deal advances milestones in the mission to tackle one of Latin America’s most pressing challenges—the high failure rate of SMEs due to lack of financing—while expanding Maxxa’s reach across the region through international capital markets.
CEO and Chairman of Delphos, Bart Turtelboom, said:
“ We recognize Maxxa’s innovative approach to SME funding, which has positioned the company as a leader in financial inclusion. We foresee ripple effects throughout Chile’s NBFI business landscape. It sends a positive signal to both domestic and international investors about the vitality and potential of Chile’s SME sector.”
Maxxa’s technological platform enables SMEs to obtain a credit assessment in minutes, revolutionizing the traditional loan application process. This agility and efficiency in credit evaluation demonstrates the effectiveness of Maxxa’s enhanced capacity to secure loans for its clients, which will address this critical gap using innovation and improving access to financing.
Symbiotics, as a leader in impact finance, played a crucial role in facilitating the transaction by bridging global investors with local opportunities. This partnership aligns with Symbiotics’ mission of advancing financial inclusion and economic resilience in underserved markets.
Jérôme Birolini, Regional Manager for the Latin America region at Symbiotics added:
“At Symbiotics, we are dedicated to unlocking capital for impactful initiatives in emerging and frontier markets. Partnering with Maxxa and Delphos allows us to create meaningful solutions that empower SMEs and strengthen economic growth in Chile.”
Cristian Sauterel Durán, CEO of Maxxa, added:
“This deal represents a pivotal moment not just for Maxxa but for the entire SME sector in the region. By strengthening our capacity to provide long-term loans at favorable terms, we’re setting the stage for unprecedented growth and stability for our clients.”
One key feature of Maxxa’s offering is the provision of long-term loans with maturities of up to three years. This extended timeframe is crucial for small companies seeking to establish a stable financial foundation and pursue sustainable growth strategies. By facilitating access to credit that might otherwise be out of reach, Maxxa plays a vital role in improving conditions for SME growth.
The impact of this deal addresses the United Nations SDG 17 goals. SMEs, which form the backbone of Chile’s economy, often struggle to secure the funding necessary for sustainable development, innovation, and job creation.
Global financial consulting firm Delphos was instrumental in securing the financing Maxxa needed to empower Chile’s SMEs, driving investor confidence in the opportunity and fostering familiarity with the jurisdiction. This transaction exemplifies Delphos’ interest and emphasis in Latin America as a region ripe with opportunities for the international capital markets.
Founded in 2016, Maxxa is a Chilean fintech offering comprehensive financial products and services that empower small- and medium-sized enterprises (SMEs) to grow and improve their financial health. The Company leverages cutting-edge technology and personalized services to provide underbanked SMEs access to credit and other financial services, driving greater financing inclusion and economic growth. Maxxa has established itself as a cornerstone in Chile’s non-bank financial ecosystem by offering innovative digital loans to SMEs that enable them access to attractive sources of capital in the capital markets, encouraging competition in the market for SME funding, which traditional banks have poorly served.
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, we have originated over 8,200 investments representing more than USD 10.5 billion for 608 companies in 99 countries. We manage an aggregate portfolio of USD 2.8 billion spread across 20 funds and mandates. Our portfolio companies have also benefited from over 170 technical assistance projects worth more than USD 19 million.
Founded in Washington, DC, Delphos has 37 years of advisory experience in emerging markets. It specializes in capital raising and transaction advisory and operates in 25 cities worldwide. Delphos has a strong track record in securing competitively priced capital and providing expertise to the public and private sectors.
New York, NY – January 23, 2025 – In a BBB National Programs’ National Advertising Division challenge brought by Eli Lilly and Company, Admire Aesthetics, Inc. voluntarily discontinued certain advertising claims for its compounded tirzepatide product.
The inquiry focused on express and implied claims made by Admire Aesthetics about the benefits, efficacy, and safety of its compounded tirzepatide with B12 product. The challenged claims included statements that patients would experience increased energy levels, enhanced well-being, and superior weight loss effectiveness compared to other products such as Eli Lilly’s Mounjaro.
During the inquiry, Admire Aesthetics informed the National Advertising Division (NAD) that it had permanently discontinued all the challenged claims. NAD will treat the discontinued claims, for compliance purposes, as though NAD recommended they be discontinued.
In its advertiser statement, Admire Aesthetics stated that they “fully support the self-regulatory process and remain dedicated to truth in advertising.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg Email: jrosenberg@bbbnp.org Job Title: Media Relations
LexisNexis®Intellectual Property Solutions Achieves 99.9% Data Accuracy for 5G Patents Through Collaboration With Top ETSI-Declaring Companies to Match, Clean, Expand, and Verify Patent Declaration Data
New York, NY – January 23, 2025 – LexisNexis® Legal & Professional today announced the ‘Cellular Verified’ initiative, a first-of-its-kind collaboration with over 30 of the top 5G patent- holding companies to rigorously improve the accuracy of patent declaration data. Through a year-long collaboration with the industry’s leading telecommunications companies, LexisNexis® Intellectual Property Solutions was able to achieve 99.9% data accuracy by matching, cleaning, enhancing, and verifying its database of patent families with the European Telecommunications Standards Institute (ETSI) declaration database.
“Patent declaration data is inherently inconsistent, shaped by each company’s unique declaration practices. If such self-declarations are not rigorously cleaned and verified, the data favors companies that provide more detailed and cleaner information, resulting in a systematic bias. This creates significant challenges for the industry, from licensing negotiations to FRAND rate determinations,” said Tim Pohlmann, Managing Director Americas and Director of SEP Analytics for LexisNexis Intellectual Property Solutions. “Cellular Verified directly addresses these challenges by delivering clean, standardized, and validated patent declaration data, ensuring stakeholders can rely on a trusted and impartial source for critical decisions. This collaboration underscores our, but also the industry’s commitment to delivering the most reliable and comprehensive patent declaration data.”
“Our industry has long faced challenges with gaps, redundancies, and errors in patent declaration data, which can lead to inefficiencies in licensing and disputes,” said Alan Fan, Vice President and Head of IPR Department at Huawei. “Our collaborative work with LexisNexis Intellectual Property Solutions on the Cellular Verified initiative has significantly strengthened the accuracy of patent declaration data for all stakeholders. This initiative provides clarity to the market and enables us to focus on innovation and strategic growth with greater confidence. It’s a testament to the power of industry partnerships in driving meaningful progress and innovation forward.”
Data Challenges Around Patent Declarations
Hosting the world’s leading source of patent declarations essential to standard technologies like 2G, 3G, 4G, and 5G, including over 555,000 declared patents across 100,000 patent families, ETSI plays a pivotal role in the telecommunications market by setting standards that ensure interoperability and compatibility among devices and networks.
In response to some court rulings that prohibit the enforcement of late-declared patents, many ETSI-declaring companies now self-declare patents at the earliest possible stage, frequently including unpublished provisional or priority numbers. The self-declaration process introduces significant variability, as companies follow different approaches when declaring their patents. Companies often submit patent numbers in varying formats and types. Some provide only provisional numbers, while others declare application numbers, grant numbers, and all jurisdictional counterparts.
This lack of consistency results in an ambiguous ETSI database, complicating analysis and interpretation. Top-down analysis of 4G or 5G patent owners can become biased, underrepresenting the patent portfolio size of companies that share less information while favoring those that declare more extensively, leading to inaccurate analyses and conflicting reports on 4G and 5G patent ownership.
Because of those data issues, 40% of self-declared patents cannot be directly matched to normalized and cleaned patent information, while roughly 20% of matched numbers result in false positives due to the ambiguity of patent numbers.
The Cellular Verified Initiative: A Collaborative Solution
The Cellular Verified initiative was undertaken to address those challenges around patent data accuracy and ensure companies could be confident in the integrity and reliability of patent data used in patent licensing negotiations, commercialization, and patent pool formation.
Collaborating with over 30 top ETSI-declaring companies, LexisNexis® Intellectual Property Solutions has established a new standard for data accuracy through the Cellular Verified process.
Matching and Cleaning Data: Standardizing patent numbers across formats to achieve 99.9% accuracy through advanced matching algorithms and company feedback.
Expanding Family Coverage: Identifying missing patent family counterparts to ensure a complete global view of declared patents.
Classifying Patents by Standard Generation: Cross-referencing patents with ETSI datasets to accurately classify them by technology generation (e.g., 2G, 3G, 4G, 5G).
Enhancing Ownership Data: Updating legal status and harmonizing ownership records using corporate tree data to reflect acquisitions and reassignment.
This chart shows the success of LexisNexis matching and cleaning efforts, as the average matching rate improved from t1 (initial matching efforts) to t7 (advanced application of matching processes) to Cellular Verified (final verified matching with feedback from declaring companies).
Through rigorous validation processes and ongoing input from ETSI-declaring companies, Cellular Verified provides a clean, unbiased database of declared patents, including weekly data updates to ensure the data remains current.
The Cellular Verified initiative not only enhances the accuracy of patent data but also provides a robust foundation for stakeholders to assess the value of patent portfolios, prepare for FRAND negotiations, and benchmark licensing offers against comparable agreements. As the 5G era continues to evolve, LexisNexis® IPlytics remains at the forefront of standard essential patent analytics solutions, delivering unparalleled insights and clarity to the world of patent ownership.
Learn more about the Cellular Verified initiative here: www.lexisnexisip.com/cellular-verified. Read the new 2025 report on the 5G patent space — “Who Is Leading the 5G Patent Race?” — based on Cellular Verified data from LexisNexis Intellectual Property Solutions here: www.lexisnexisip.com/5g-report.
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,800 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About LexisNexis® Intellectual Property Solutions
LexisNexis® Intellectual Property Solutions bring clarity to innovation for businesses worldwide. We enable innovators to accomplish more by helping them make informed decisions, be more productive, comply with regulations, and ultimately achieve a competitive advantage for their business. Our broad suite of workflow and analytics solutions (LexisNexis® PatentSight+, LexisNexis® Classification, LexisNexis® TechDiscovery, LexisNexis® IPlytics, LexisNexis PatentOptimizer®, LexisNexis PatentAdvisor®, and LexisNexis TotalPatent One®, LexisNexis® IP DataDirect), enables companies to be more efficient and effective at bringing meaningful innovations to our world. We are proud to directly support and serve these innovators in their endeavors to better humankind.
LexisNexis | Intellectual Property Solutions
Bringing clarity to innovation
Contact Information
Name: Andrew Weinstein Email: Andrew.Weinstein@LexisNexis.com Job Title: PR Consultant
New York, NY – January 22, 2025 – As part of its routine monitoring program, BBB National Programs’ National Advertising Division determined that Ingenuity Brands, Inc., dba Ingenuity Brands and Brainiac Foods, provided a reasonable basis for certain claims in product packaging and online advertising for its Brainiac Brain Squeezers Applesauce products and BrainPack Daily Adult Gummy Vitamins. However, the National Advertising Division (NAD) recommended that other claims be discontinued or modified.
Applesauce Claims
NAD determined that Ingenuity provided a reasonable basis for the following Brainiac Brain Squeezers Applesauce claims:
“Supports Immunity”
“Brainiac snacks help close the brain nutrition gap”
“Backed by Science, Loved by Families; Brainiac partnered with Parents, Pediatricians and Neurologists to create a line of delicious snack favorites packed with key nutrients that fuel the body AND brain. Learn more about brain nutrition at brainiacfoods.com”
NAD also concluded that the claim quantifying the extent of the nutrition gap that Ingenuity’s products are designed to help fill is supported based on WHO/FAO recommended intakes:
“Most kids only get 20% of the recommended daily intake of Omega-3s, the most important building blocks of the brain*. That’s precisely why we formulated Brain Squeezers with our proprietary BrainPack®, a blend of DHA/EPA and choline to support the development of big, healthy brains. *Daily Adequate Intake Recommendations for Omega-3s and Choline: Based on World Health Organization/FAO UN and National Institutes of Health. Consumption data sourced from What We Eat in America, NHANES 2015- 2016.”
NAD found that in context, the “promotes brain health” claim conveyed a message that the applesauce provided important cognitive benefits beyond simply supporting brain health. Given the gap between the strength of the DHA in the applesauce and that tested in the underlying studies, NAD concluded that the cognitive benefits message was not supported and recommended that the “promotes brain health” claim be discontinued or modified to avoid overstating the benefits of the product.
NAD also recommended that Ingenuity discontinue the claim “clean ingredients” for its applesauce products and stated that to the extent Ingenuity wishes to make a “clean ingredients” claim in the future, it should ensure that the claim is properly supported and qualified to make clear the basis for the assertion that the product’s ingredients are “clean.”
BrainPack Daily Adult Gummy Vitamins Claims
NAD determined that one reasonable message conveyed by the label claims “Memory,” “Clarity,” “Focus,” and “Vision” was that the BrainPack Daily Adult Gummy Vitamins product would improve cognitive performance in a measurable way, a claim that was not supported by the record. Therefore, NAD recommended that the claims be discontinued or modified to avoid overstating the benefits of the vitamins.
During the proceeding, Ingenuity permanently discontinued certain claims for Brainiac Brain Bars and Brain Squeezers Applesauce. Therefore, NAD did not review these claims on their merits and will treat the claims, for compliance purposes, as though NAD recommended they be discontinued.
In its advertiser statement, Ingenuity stated that although it disagrees “with elements of the NAD’s analysis, it “agrees to comply with NAD’s recommendations.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact: Jennie Rosenberg Media Relations BBB National Programs press@bbbnp.org
Delphos was selected as the specialist advisor to PowerGen Renewable Energy (“PowerGen”) on the equity raise of a renewable energy platform to increase energy access across Africa. The first closing on the transaction was reached in January 2025 and will catalyze additional equity and debt capital later in 2025.
This crucial capital, sourced from leading international impact investors including InfraCo, IFU, EDFI, AfDB’s SEFA, and PIDG, will accelerate PowerGen’s mission to bring reliable, sustainable electricity to households and businesses in Nigeria, Sierra Leone, and the Democratic Republic of Congo, with a target to scale to the wider Sub-Saharan Africa region.
Specifically, the funds will support the establishment of a scalable, distributed renewable energy platform, targeting the deployment of 120 MW of renewable power solutions, including battery energy storage. For more than thirteen plus years, PowerGen has been at the forefront of delivering clean energy solutions to African residential, community, and industrial clients. Its core business lines include large-scale mini-grids, as well as C&I solutions that offer significant energy savings to clients. PowerGen addresses the unique challenges of African energy markets, where decentralized, localized solutions often surpass the reliability and reach of national utilities.
This new capital injection supports PowerGen’s mission to bring clean, affordable energy to underserved areas, aligning with the United Nations Sustainable Development Goals, by helping to achieve universal access, while supporting the transition to a low-carbon economy.
Delphos served as joint advisor on this transaction. Delphos will continue to support PowerGen on an exclusive basis in securing additional equity and innovative debt finance later this year.
Aaron Cheng, CEO of PowerGen, stated: “We are excited to partner with leading impact investors on this transformational transaction to scale renewable energy across Africa. We are grateful to the investors for their collaboration and appreciate Delphos’ support in arranging the transaction.”
Bart Turtelboom, Chairman & CEO of Delphos, concluded: “We applaud PowerGen who continues to play a pivotal role in supporting emerging markets to achieve the UN SDG Goal 7 – Affordable and Clean Energy. It is Delphos’ mission to contribute to universal access to clean energy by 2030, accelerating electrification, enhancing energy efficiency, and increasing investments in renewable energy. Finding innovative financial solutions helps unlock critical financing for impactful development projects like PowerGen’s, fostering sustainable growth in sectors essential for economic advancement. We appreciate their trust and look forward to continuing our work with PowerGen across our team globally.”
About PowerGen: PowerGen is a leading renewable energy platform across Africa, with offices in four countries (Kenya, Nigeria, Sierra Leone and DRC). PowerGen owns and operates renewable energy and distribution utility projects to deliver clean, reliable, and affordable power. In 2024, PowerGen was listed as one of the Financial Times’ Africa’s Fastest Growing Companies! PowerGen ranked 40th in the overall rankings and 5th in the Energy & Utilities sector. For more information: https://www.powergen-re.com
About Delphos:
Delphos is the definitive source for arranging innovative financial solutions for development companies and projects. We specialize in raising long-term, competitively priced capital for corporates, fund managers, developers, SMEs, sovereigns, and entrepreneurs worldwide. Since 1987, we have arranged more than $20 billion in development finance to support the efforts of over 1,200 companies. We tap into the resources of more than 350 government agencies and multilateral organizations worldwide to help clients realize their international business goals and have sustainable impact. In addition to our capital raising efforts, Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across multiple industries. We are approved advisors to AfDB, DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, leading private equity firms, infrastructure developers and strategic investors, and foreign governments and utilities.
20th January 2025 Washington, DC The U.S. International Development Finance Corporation (DFC) has received approval from its Board of Directors on a $150 million landmark financing to the Mongolian Mortgage Corporation (MIK), advised by Delphos, the global financial advisory firm.
This transformative deal will see the DFC acquire $150 million of mortgage-backed securities managed by MIK, enabling local commercial banks to create new and affordable mortgages. The ultimate goal is to increase homeownership opportunities for thousands of low—and middle-income families in Mongolia. The approval represents the largest Mongolian financing in the history of the DFC and its predecessor agency OPIC.
Additionally, the transaction marks a significant leap forward in MIK’s promotion of housing affordability and improving living standards for Mongolians, many of whom reside in informal housing settlements. The financing aligns with broader efforts to address Mongolia’s urban challenges. Ulaanbaatar, the country’s capital, is home to close to 50% of Mongolia’s rapidly growing population, 60% of which still reside in informal settlements lacking basic infrastructure and access to social services.
Mongolia’s urban transformation is the perfect time to invest in housing development. Delphos is committed to creating a meaningful impact at this crucial juncture, aligning with UN Sustainable Development Goal 11, which aims to make cities and human settlements inclusive, safe, resilient, and sustainable. Affordable mortgages will help transition many families into formal housing, accelerating urban development and fostering economic stability.
Delphos served as the exclusive advisor on this transaction and will continue to support MIK until the transaction’s financial close.
Delphos’ Chairman and CEO, Bart Turtelboom, noted that
“MIK is a systemically important financial institution within Mongolia. We are proud to support our client and appreciate their trust. We are excited to support Mongolia’s robust financial services industry and urban development, helping to create a meaningful impact through this deal.
Gantulga Badamkhatan, CEO of MIK added:
“We are excited to partner with US DFC on this transformative financing. This landmark transaction with its innovative structure will pave the way to catalyzing private sector capital into Mongolian mortgage market. We appreciate Delphos’ market-leading advisory work in structuring and arranging the transaction on our behalf. This financing will be pivotal for our continued growth and impact, and we look forward to reaching financial close soon.”
The partnership reaffirms DFC’s commitment to fostering inclusive economic development and highlights Mongolia’s potential as an emerging market for impactful investments. For Delphos, the transaction reinforces its position as a trusted advisor in mobilizing capital for frontier markets.
This deal underscores Delphos’ expertise in private emerging markets, especially for financial institutions. This is also Delphos’ latest successful transaction in Mongolia. Since 2022, Delphos has advised Bogd Bank on nearly USD 40M in multiple international financings.
NOTES To Editors:
Delphos.co
Delphos has served as the exclusive financial advisor on the deal, leading all aspects, from initial market distribution to financial structuring and negotiations.
This is Delphos’ second financial services deal in Mongolia. Since 2022, Delphos has arranged nearly USD 40M in international financings for Bogd Bank. Delphos will continue to support the Mongolian Mortgage Corporation until its financial close this quarter.
Capital raising: USD 150 Million
Sectors: Mortgages, Affordable Housing
Impact:
More affordable mortgages for housing
Ulaanbaatar’s population goes from informal housing to formal housing
Higher living standards
About Mongolian Mortgage Corporation mik.mn
MIK is dedicated to enhancing access to affordable housing in Mongolia through innovative financial solutions that promote homeownership and economic development.
About DFC Dfc.gov U.S. International Development Finance Corporation (DFC) is a modern, consolidated agency that combines the capabilities of OPIC and USAID’s Development Credit Authority while introducing new and innovative financial products to better attract private capital to the developing world. The U.S. will have more flexibility to support investments in developing countries to drive economic growth, create stability, and improve livelihoods.
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New York, NY – January 17, 2025 – In a challenge brought by competitor Henkel Corporation, BBB National Programs’ National Advertising Division recommended that Procter and Gamble Company (P&G) modify the claim “From Tide, the #1 brand used by dermatologists” when used in connection with imagery for Tide Free & Gentle and discontinue the related claim “From Tide, the #1 Trusted Detergent Brand for Sensitive Skin.”
P&G’s Tide Free & Gentle and Henkel’s all® free clear are both laundry detergents for consumers who are concerned about the presence of certain ingredients in detergents.
Dermatologist Use Claim
The claim “From Tide, the #1 brand used by dermatologists” appeared in a commercial for Tide Free & Gentle, on P&G’s website, on a retail store display for Tide Free & Gentle, and other forms of advertising.
The National Advertising Division (NAD) determined that the following messages were reasonably conveyed by P&G’s advertising:
Dermatologists prefer Tide Free & Gentle over all® free clear
Dermatologists who use sensitive skin detergent prefer Tide Free & Gentle over all® free clear
More dermatologists use Tide Free & Gentle over all® free clear
NAD found that P&G’s survey evidence was not a good fit for dermatologist preference claims and recommended that P&G modify the claim “From Tide, the #1 brand used by dermatologists” when used in connection with imagery for Tide Free & Gentle to avoid conveying such implied messages.
Consumer Trust Claim
Henkel challenged the claim on P&G’s website and other forms of advertising, “From Tide, the #1 Trusted Detergent Brand for Sensitive Skin*” followed by the disclosure that “*Tide is Consumers’ #1 Trusted laundry detergent brand for sensitive skin in BrandSpark Survey,” with an image of a bottle of Tide Free & Gentle next to the claim.
NAD concluded that one reasonable message conveyed by this claim is that Tide is the “#1 Trusted Detergent Brand” for use on sensitive skin – a message that NAD did not find substantiated by P&G’s BrandSpark survey.
Therefore, NAD recommended that P&G discontinue the claim “From Tide, the #1 Trusted Detergent Brand for Sensitive Skin.”
In its advertiser statement, P&G agreed to comply with NAD’s recommendations.
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact: Jennie Rosenberg Media Relations BBB National Programs press@bbbnp.org
New York, NY – January 16, 2025 – In a Fast-Track SWIFT challenge brought by competitor AT&T Services, Inc., BBB National Programs’ National Advertising Division recommended that T-Mobile US, Inc. discontinue its claim for 20% savings on monthly wireless services.
Fast-Track SWIFT is an expedited process designed for single-issue advertising cases brought to the National Advertising Division (NAD). AT&T challenged T-Mobile’s “Holidays Are Coming in Hot” commercial, in which T-Mobile advertises that prospective customers save 20% every month in service costs compared to AT&T and Verizon.
At issue for NAD was whether T-Mobile’s commercial informs consumers that the 20% savings claim is calculated by including the cost of third-party streaming services on top of the price of AT&T’s and Verizon’s monthly wireless plans.
NAD determined that the context of the challenged commercial does not put consumers on notice that streaming services are connected with T-Mobile’s price comparison claim. Because the main message of the commercial is price savings, without reference to optional add-on streaming services, NAD determined that the small on-screen print disclosure that references streaming services as the basis of comparison is insufficient and contradicts the main message of the commercial.
Accordingly, NAD recommended that T-Mobile discontinue the claim in the challenged advertising that “families can save 20% every month versus AT&T and Verizon.” NAD noted that nothing in its decision precludes T-Mobile from making truthful and not misleading price comparisons about the value of the streaming services it includes with its plans.
In its advertiser statement, T-Mobile stated that although it “disagrees with NAD’s conclusions regarding the challenged advertising,” it will comply with NAD’s decision and “take NAD’s recommendations into account with respect to its future advertising.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact: Jennie Rosenberg Director of Communications BBB National Programs press@bbbnp.org
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