/C O R R E C T I O N -- Context Labs/

In the news release, Context Labs Enters Multi-Year Agreement with Trafigura and Acquires Kinertic to Power Carbon-Informed Commodities Trading, issued 12-Aug-2026 by Context Labs over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Context Labs Enters Multi-Year Agreement with Trafigura and Acquires Kinertic to Power Carbon-Informed Commodities Trading

Industrial AI platform will connect primary emissions data to operating entities and trading desks in oil, gas and metals across Trafigura's global portfolio

AMSTERDAM, Aug. 12, 2026 /PRNewswire/ -- Context Labs B.V. ("Context Labs"), the industrial AI infrastructure company, today announced three connected transactions with Trafigura PTE Ltd ('Trafigura'): the acquisition of Agora (Europe) Limited and its Kinertic carbon-intelligence platform, developed by Trafigura; a strategic equity investment by Trafigura in Context Labs; and a multi-year master services and platform license agreement under which Trafigura can deploy the combined platform across its commodity trading desks.

Kinertic provides commodity producers, traders and buyers with a carbon intelligence platform integrated into their existing systems, connected with trade capture systems to map flows, aggregate portfolios, and generate regulatory and customer reports. By bringing Kinertic into the Context Labs AI solution family and connecting it to its trusted data infrastructure, traders will be able to see price, volume, logistics, and trusted carbon metrics in a single environment, directly in the tools they already use. With the EU Carbon Border Adjustment Mechanism (CBAM) in its definitive phase, default emissions values translate directly into cost on every in-scope cargo. As the EU Methane Regulation moves from reporting to monitoring and verification, methane intensity becomes a market-access prerequisite for gas, LNG, and oil flowing into the EU. Verified, trade-specific carbon data is now a procurement and trading requirement, not a reporting afterthought.

As part of the transaction:

• Context Labs has acquired Agora (Europe) Limited, the Trafigura subsidiary that owns and operates the Kinertic platform.
• Trafigura has separately made a strategic equity investment in Context Labs to support continued platform development and integration of the Kinertic capabilities.
• Context Labs and Trafigura have entered into a multi-year platform license agreement with Trafigura to license the platform across multiple commodity trading desks.

Context Labs provides the digital trust infrastructure to reliably monitor and calculate carbon-intensity data for commodities; from production through transport to end-market. Context Labs makes industrial AI and carbon programs trusted, by turning raw inputs into governed, audit-ready outputs that create measurable enterprise value in compliance and commercial markets.

"The opportunity isn't in generating more data, it's in bringing context to the data our customers already have," said Dan Harple, Founder and CEO of Context Labs. "Where others see disconnected datasets, we see the foundation for a new intelligence layer. By bringing Kinertic together with Context Labs AI and our asset-grade data infrastructure, we turn fragmented inputs into connected, verifiable knowledge, so every output is traceable to source, reproducible in process, and credible to inform pricing, manage risk, and guide capital allocation."

"Carbon is now a core dimension of market risk and opportunity," said Hannah Hauman, Global Head of Carbon Trading at Trafigura. "Our traders need the same level of accuracy on emissions that they have on price and logistics. Trafigura has been privileged to support Kinertic's evolution into an industry-leading carbon reporting and analytics platform since inception. We are confident that Context Labs will build on that strong foundation and drive the platform's continued growth." 

"This combination is about moving carbon from a reporting exercise into a core market signal," said Pelle Sommansson, CEO and Co-founder of Kinertic. "Together with Context Labs, we are enabling a new level of transparency, where carbon intensity becomes a trusted, measurable attribute in how energy is valued and traded."

For commodity producers, traders, financiers and buyers, the combined Context Labs–Kinertic offering delivers:

• Carbon-informed trading: portfolio analytics, trade-flow builders, and reports that quantify carbon and methane intensity across the commodity value chain, enabling differentiated pricing, structured deals, and improved hedging.
• Industrial AI at scale: an AI-ready, provenance-rich data layer that connects IoT, operational, third-party, and certification data into a single emissions and attributes layer.
• Regulatory and reporting readiness: standardized, auditable outputs for EU Methane Regulation, the Carbon Border Adjustment Mechanism (CBAM), and other relevant disclosure regimes, including end-to-end product carbon footprint reporting.

About Context Labs BV

Context Labs is an enterprise data infrastructure platform that transforms complex data into continuously proven information. Its AI-enabled software helps industrial organizations turn fragmented operational and emissions data into trusted, auditable, and decision-ready intelligence for carbon management, compliance, and commercial use. The company was formed out of MIT (Massachusetts Institute of Technology) research and is led by a team that has been instrumental in the at-scale growth of the Internet through prior companies. Context Labs is located in Amsterdam, Cambridge, Mass., and Houston. Learn more at www.contextlabs.com

About Trafigura

Trafigura provides critical resources to the world. Founded over 30 years ago and owned by its employees, the Group is at the heart of global supply, using its deep understanding of commodity markets to make supply chains more efficient, secure and sustainable.

Working across a global network, the Group deploys infrastructure, logistics, financing and market expertise to move energy and commodities from where they are produced to where they are needed. By connecting producers and consumers, we bring resilience and trust to complex supply chains.

The business supplies the energy and commodities the world needs today, including oil and petroleum products, metals and minerals, gas and power, while investing in lower-carbon solutions for the future.

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, fuel supplier and distributor Greenergy, and the Impala Terminals joint venture. The Group employs approximately 14,500 people, of which more than 1,400 are shareholders, and operates in over 150 countries.

Visit: www.trafigura.com

Media Contact

Organization: Context Labs
Email: press@contextlabs.com
Phone: 1-617-902-0932
Web: contextlabs.com/resources

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Context Labs Enters Multi-Year Agreement with Trafigura and Acquires Kinertic to Power Carbon-Informed Commodities Trading

• Hyosung Heavy Industries' Q2 operating profit surges by 60%, marking a record quarterly high.
• The U.S. market accounts for 71% of the KRW 7.5 trillion in new orders secured during the first half of the year.
• Company solidifies its No. 1 position in the U.S. 765kV market, driven by its largest-ever order and "full-package" supply capabilities.
• Chairman Hyun Joon Cho's proactive investments and strategic high-level networking yield significant results.
• Chairman Cho declares the company is firmly established as a "Total Solution Provider" in the U.S. power market.

SEOUL, South Korea, Aug. 12, 2026 /PRNewswire/ -- Under the leadership of Hyosung Chairman Hyun Joon Cho, Hyosung Heavy Industries is building a solid presence in the U.S. power market. Chairman Cho's strategic bet to designate the power infrastructure business as a future growth engine and invest proactively in the local market is being credited with driving the company's strong performance.

71% of New Orders from the U.S… Annual Order Target Raised to KRW 12 Trillion

Hyosung Heavy Industries reported Q2 sales of KRW 1.687 trillion and an operating profit of KRW 264.3 billion, representing year-over-year growth of 10.6% and 60.9%, respectively. New orders in the first half of the year reached KRW 7.4987 trillion, nearly matching the total order amount for the entirety of last year. The annual order target has also been raised from the previous KRW 8.4 trillion to KRW 12 trillion.

At the core of this growth lies the company's performance in the U.S. market. Approximately 71% of Hyosung Heavy Industries' new orders in the first half of the year were secured in the United States. This is due to accelerating investments in local transmission grids driven by the expansion of AI data center construction.

Largest-Ever KRW 787 Billion Power Equipment Supply Contract

Earlier this year, Hyosung Heavy Industries signed a power equipment supply contract worth approximately KRW 787 billion with a leading U.S. transmission grid operator for 765kV ultra-high-voltage transformers, reactors, and other power equipment. This contract is the largest single project ever awarded to a Korean power equipment company operating in the U.S. market.

Last year, Hyosung Heavy Industries also became the first Korean company to sign a "full-package" supply contract in the U.S. for power equipment, including 765kV ultra-high-voltage transformers and 800kV ultra-high-voltage gas-insulated switchgear (GIS). With these consecutive large-scale orders, Hyosung Heavy Industries has reaffirmed its strong leadership position in the U.S. 765kV market.

Solidifying 'No. 1' Position in U.S. 765kV Ultra-High-Voltage Transformer Market

The 765kV transmission network offers the advantage of transmitting massive power capacities over long distances while significantly reducing transmission losses compared to existing 345kV or 500kV systems. To ensure a stable supply of large-scale power, major U.S. utilities are moving quickly to develop plans for 765kV transmission networks.

Hyosung Heavy Industries has supplied nearly half of the 765kV ultra-high-voltage transformers currently installed across the U.S. transmission grid. In particular, the company has maintained the number one market share in the U.S. 765kV ultra-high-voltage transformer market since the early 2010s, proving its product reliability and technological prowess in the U.S. power market.

Chairman Hyun Joon Cho's Proactive Investments and U.S. Networking Yield Results

Behind these achievements in the U.S. lies the strategic foresight and bold investments of Hyosung Chairman Hyun Joon Cho.

Chairman Cho has emphasized, "As the explosive growth of the AI industry makes the modernization of power infrastructure an essential task, we will firmly establish ourselves as a 'Total Solution Provider' in the U.S. power market through successful localization and operational know-how, including our Memphis plant."

Anticipating that a U.S. production base would be the core of competitiveness in the future power infrastructure market, Chairman Cho acquired an ultra-high-voltage transformer manufacturing plant in Tennessee in 2020. Despite internal concerns regarding various risks, he made the bold decision to acquire the facility, foreseeing the singularity era driven by AI advancements.

Chairman Cho's extensive U.S. network has also contributed to these results. By building personal relationships with senior executives in the U.S. energy and power sectors, as well as figures such as U.S. Secretary of Energy Chris Wright, Chairman Cho has helped enhance Hyosung Heavy Industries' brand value.

Website: https://www.hyosung.com/en/

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Hyosung Chairman Hyun-Joon Cho Drives Record Success in U.S. Power Grid Market