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Discover LudwigThe phrase "are releasing" is correct and usable in written English.
It is typically used to indicate an action that is currently happening or will happen in the near future, often in the context of announcements or updates.
Example: "The company are releasing their new product line next month, and we can't wait to see the innovations they bring."
Alternatives: "are launching" or "are unveiling".
Dictionary
are releasing
noun
The event of setting (someone or something) free (e.g. hostages, slaves, prisoners, caged animals, hooked or stuck mechanisms).
Exact(59)
Police are releasing few details.
Both are releasing new albums this month.
So now, state managers are releasing predators.
Fugazi are releasing their original demo tape.
Month by month, we are releasing more data sets.
"We are releasing #MegaChat beta step by step.
Today, we are releasing footage taken by that plane.
Chic are releasing their first album in more than 20 years, called It's About Time.
They are releasing prisoners from the jails to attack the demonstrators.
Candidates are releasing preliminary figures now, with official tallies due in mid-October.
Similar(1)
Most are released unharmed.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com