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G7: Iran, behind the attack on an oil tanker, “threatens international peace” | Expedition News

Tehran denies being behind a drone attack on an oil tanker linked to Israel, but the G7 says “all available evidence clearly points to Iran.”

G7 foreign ministers said that “all available evidence clearly indicates that Iran” was behind a July 29 drone attack on an Israel-linked tanker that killed a former British soldier and a Romanian national.

“It was a deliberate and targeted attack, and a flagrant violation of international law … There is no justification for this attack,” ministers from the world’s seven most developed countries said in a statement on Friday.

The vessel was a Japanese oil tanker, flying the Liberian flag, operated by the Israeli company Zodiac Maritime.

Iran has firmly denied having any connection to the MV Mercer street attack, which came as tensions rise in the region and talks to revive the 2015 Iran nuclear program deal stalled .

But European countries and the United States renewed their accusations at a closed-door Security Council meeting at UN headquarters in New York on Friday.

“The UK knows Iran is responsible for this attack. We know it was deliberate and targeted, ”said British Ambassador to the UN Barbara Woodward, who added that the evidence was“ clear ”.

“The door to diplomacy and dialogue remains open. But if Iran chooses not to take this path, then we will seek to hold Iran to account and apply a cost to it, ”she told reporters.

The Security Council is due to discuss the incident further at a public meeting on maritime security on Monday.

G7 ministers declared that “ships must be allowed to navigate freely in accordance with international law” and pledged to “do everything possible to protect all navigation, on which the world economy depends”.

“Iran’s behavior, as well as its support for proxy forces and armed non-state actors, threatens international peace and security,” they said, calling on Tehran to end all activities inconsistent with Iranian resolutions. Security Council.

“Iran will not hesitate to defend itself”

The United States and Israel have singled out Iran for being behind the attack on the tanker, which is led by a prominent Israeli businessman in London.

Iran’s deputy ambassador to the UN, Zahra Ershadi, rejected accusations that Tehran was behind the attack and warned against retaliation: “Iran will not hesitate to stand by. defend and protect its national interests “.

In a separate statement, the US military said explosives experts from the aircraft carrier Ronald Reagan – which deployed to aid Mercer Street – concluded the drone was produced in Iran.

He said explosives experts were able to recover several pieces of a drone, including part of the wing and internal components that he said were almost identical to previously collected samples from Iranian attack drones.

The US military also suggested the attack may have been launched from the Iranian coast, saying the distance to the scene of the attacks “was within range of documented one-way Iranian drones.”

“Some of the material was transferred to the headquarters of the US Fifth Fleet in Manama, Bahrain, and then to a US national laboratory for further testing and verification,” said Central Command, which oversees US forces in the area. region, in the press release.

Security analysts said the fatal attack raised the stakes in the “shadow war” against ships linked to Iran and Israel.

Iran was blamed again on Tuesday for the alleged hijacking of an asphalt and bitumen tanker in the Gulf of Oman, which prompted further denials from the Islamic Republic.

The tensions came as former head of the hard-line judiciary Ebrahim Raisi took over as Iranian presidency this week following his victory in the June election, replacing Hassan Rouhani who was seen as a more moderate figure.


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Smart Wires CEO Peter Wells explains his stint at NC

Peter Wells, CEO of energy technology company Smart Wires, believes his business is poised for serious growth in the years to come.

But that growth, according to Wells, would have been difficult to manage in the San Francisco area, where the company has been based since its inception in 2010.

Last week, Smart Wires, which manufactures technology to efficiently manage energy in power grids, announced it was moving its Bay Area headquarters to Durham. It’s a move that will ultimately create some 250 jobs at the Triangle, and North Carolina has offered the company a $ 2.8 million incentive program to make it happen.

In an interview with The News & Observer, Wells said the decision was about access to talent. In California, he said, competition between companies has grown fierce and the cost of living keeps entry-level employees away.

“It’s a little harder to find (and) dear people when you do,” Wells said in a Zoom interview.

And due to the nature of their business, which is designing technologies for power grids, the business often hires highly skilled electrical engineers, many of whom have doctorates. And other companies and industries have constantly tried to pull them off.

“The talent was sort of being harvested by other industries that maybe paying a lot more money than you might see in energy,” Wells said. “It was a challenge.”

As the company was poised to accelerate its growth in the coming months, Wells believed it was time to move the corporate headquarters. And as the company’s lease expires at the end of the year, it has started a nationwide search.

Smart Wires ended up narrowing its search to five cities, Well said, including Austin, Atlanta, Denver, the Triangle and its existing location in Union City, California.

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Peter Wells, CEO of Smart Wires Smart wires

The Triangle, Wells said, had the best overall score in its analysis thanks to its cost of living, existing energy technology companies and local universities.

“There are other (power) companies here, like Hitachi ABB,” Wells noted. And “NC State is doing very well in this area. Duke has a very good electrical engineering program. There are other colleges around, and Georgia Tech is not that far. I mean there is a lot going on in the area.

It’s also – at least for now – reasonably priced, Wells said, especially compared to places like Boulder, Colorado and Austin.

“The cost of living and housing is clearly increasing (in the Triangle),” he said, “because companies are coming in and investing… but there is still a long way to go before they reach” the levels Californians.

Wells knows the Triangle well, although a lot has changed since he was last there. He worked at the GE plant in Wilmington between 2003 and 2010, and visited Raleigh often. Since then, he said, the area’s cultural amenities, from bars and restaurants to music and cafes, have improved dramatically.

The company hopes to open its research and development lab in Durham later this year. It is currently targeting space in southern County Durham, near Raleigh-Durham International Airport.

Some of the company’s 140 or so employees will relocate to the Triangle, but most of them will either stay in California or work remotely. About 40% of the company’s employees work abroad.

Currently, approximately 15% of Smart Wires’ business is located in the United States. The company is very active in South America, the UK and Australia, where countries are really investing in efforts to modernize their power grids, Wells said.

But Wells believes the US market could be an important area of ​​growth in the years to come, as investment picks up in wind and solar power. Smart Wires technology helps utility providers connect their grids to wind turbines and solar panel farms and helps them efficiently manage the energy that results from them.

Wind turbines and solar panels are often built far from traditional power grids, complicating how utility companies can efficiently manage their energy.

“In England, all renewable energy is produced in Scotland and off the North Sea. But all the demand is in the south of England, “Wells said, adding that most countries have a similar dynamic, including the United States.” You can’t just move electricity. And everyone’s having these issues, so they don’t have enough capacity, and they’re having congestion issues.

Wells said the United States could see increased investment in modernizing power grids across the country, so they can handle more connections to alternative energy. The company is closely monitoring what will be included in an infrastructure bill currently being debated in Congress, and hopes it will provide incentives to modernize power grids.

“Frankly, even without this (infrastructure bill),” Wells said, utilities “are going to have to modernize. They can’t avoid it. So we think that over time, the US market … will probably represent more than 30 to 50% ”of the company’s activity.

This story was produced with the financial support of a coalition of partners led by Innovate Raleigh as part of an independent journalism scholarship program. The N&O retains full editorial control of the work. Learn more; go to bit.ly/newsinnover.

Related articles from Raleigh News & Observer

Zachery Eanes is the Innovate Raleigh reporter for The News & Observer and The Herald-Sun. It covers technology, startups and large companies, biotechnology and education issues related to these fields.


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Aro Biotherapeutics Expands Management Team and Plans to Move to New Philadelphia Headquarters to Drive Next Phase of Growth

PHILADELPHIA CREAM – (COMMERCIAL THREAD) – Aro Biotherapeutics, a pioneering biotechnology company in the development of genetic tissue-targeted drugs, today announced the appointment of three new executives, including Scott Greenberg as COO, Jeffrey Staiger as as Senior Vice President of Finance and Business Development, and Michael Tortorici, PharmD, Ph.D. as Vice President of Clinical Pharmacology and Non-Clinical Development. Mr. Greenberg recently served as Aro’s Commercial Director, while Mr. Staiger and Dr. Tortorici are new additions to the management team. The company also announced its intention to relocate its headquarters to Curtis in Philadelphia to accommodate the continued growth of its operations and staff.

“The expansion of our leadership team provides Aro with proven leadership expertise as we advance our first molecules into clinical development and continue to evolve our organization, ”said Susan Dillon, Ph.D., co-founder and CEO of Aro Biotherapeutics. “I am happy to welcome Jeff and Mike to Aro. They both have extensive experience in their respective functional areas which will bring great value to our organization. In his expanded role, Scott and his team will help us develop additional business capabilities that will support our future growth. ”

Mr. Greenberg joined Aro in 2019 from Roivant Sciences, where he most recently served as Vice President, Chief Operating Officer. Previously, he worked at Celgene Corporation in several roles spanning business development, project management, strategy, sales and marketing. He began his career in investment banking at Goldman Sachs Group, Inc. and received an MBA from Harvard Business School.

Mr. Staiger is an international leader in finance and business development having spent over 13 years with Celgene / Bristol Myers Squibb, in roles spanning finance, clinical development, corporate strategy, business operations, leadership alliance and business development. Mr. Staiger began his career at PricewaterhouseCoopers, becoming a Chartered Accountant, and held positions in finance at Quest Diagnostics. He received degrees in economics and accounting from Gordon College (MA).

Dr Tortorici, PharmD, Ph.D. has 15 years of experience in the pharmaceutical industry in the field of clinical pharmacology for small molecules and biologics in a wide range of diseases. He was most recently Executive Director and Head of Clinical Pharmacology at CSL Behring, leading the team responsible for clinical pharmacology for all programs in the portfolio. Prior to that, he worked at Pfizer in clinical pharmacology. Dr Tortorici received his PharmD and Ph.D. in Pharmaceutical Sciences from the Faculty of Pharmacy at the University of Pittsburgh.

Beginning in October 2021, Aro will begin moving operations to the Curtis in downtown Philadelphia. The Curtis is one of the best places for the scientific community to develop and perfect life-saving therapies and attract world-class talent to achieve their goals. The expanded space will be customized to Aro’s needs, providing an ideal location for the development of Centyrin’s proprietary Aro platform – siRNA drugs. Aro plans to complete the move to The Curtis in the first quarter of 2022.

“We couldn’t be happier to move to the historic Curtis Building as we enter our next phase of growth, ”said Dillon. “Lab and office spaces will help us create a world class facility, and with other building amenities and attractions nearby, The Curtis is ideal for Aro to hire and retain top talent.

About Aro Biotherapeutics

Philadelphia-based Aro Biotherapeutics is a pioneering biotechnology company in the development of tissue-targeted genetic drugs with a platform based on a proprietary protein technology called Centyrins. The company is developing a wholly owned pipeline of Centyrin-based therapeutic candidates and is working with industry partners to leverage Centyrins for tissue-specific targeting of therapies for a diverse set of diseases. For more information visit www.arobiotx.com.


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Flexicon expands global headquarters in Pennsylvania

Flexicon Corp. expanded its manufacturing space in Bethlehem, Pa., by 50,000 square feet to meet growing demand for its bulk handling equipment and systems.

The new space is mainly intended for the storage of sub-assemblies, the crating and the staging of the assembled equipment. This includes stocking Quick-Ship models of flexible screw conveyors, bulk bag unloaders and bulk bag conditioners for immediate shipment, freeing up the main facility for increased fabrication and assembly capacity.

Founded in 1974 in Fairfield, NJ, the company purchased its first manufacturing plant in Lodi, NJ in 1978, quintupled with the purchase of a plant in Phillipsburg, NJ in 1988, and added a satellite plant in Easton, PA in 1995 U.S. operations were then consolidated and expanded with the construction of the company’s global headquarters in Bethlehem, PA in 2001.

“In 2014, we doubled the size of our headquarters in Bethlehem, maximizing the coverage of the existing site, so we are fortunate that a facility adjacent to our main building is available this year,” said David Boger, vice president executive.

International factory expansions include the establishment of a manufacturing facility in the UK in 1994, one in South Africa in 2001 and another in Australia in 2008.

The company’s technical sales staff also grew with the addition of 26 factory direct sales offices located in US, UK, Chile, Spain, Germany, France, Africa. South, Australia, Singapore and Indonesia.

“All of the company’s locations can easily rely on Flexicon’s 25,000 installations around the world to find existing solutions to most bulk handling problems,” added Boger.

The company holds 36 patents reflected in the designs of its flexible screw conveyors, tube cable conveyors, pneumatic conveying systems, bulk bag unloaders, bulk bag conditioners, bulk bag fillers, bag emptying stations, drum / box / container tippers and batch weighing systems. A separate project engineering division. integrates large-scale systems in all industries in which bulk materials are handled.


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REE Automotive to Open US Headquarters in Austin, Texas

Zero-emission technology company REE Automotive has named Austin, Texas, the new headquarters for its US headquarters. The Israel-based electric mobility company is now looking to capitalize on a growing market in North America by opening a headquarters in Lone Star State, alongside an integration center for assembly and testing of its proprietary technologies.

REE Automotive is an electric mobility solutions company based in Tel Aviv, Israel, with additional subsidiaries in the US, UK and Germany.

The company specializes in the development and manufacture of modular EV platforms for B2B transactions in addition to its proprietary REEcorners. This year alone, REE announced collaborations with Magna International and Toyota’s Hino Motors.

Last February, REE announced an ongoing SPAC merger with 10X Capital Venture Acquisition Corp. ($ VCVC), raking in $ 500 million in gross revenue to accelerate mass production in 2023.

Yesterday, the business combination has been approved by shareholders and officially closed. This morning, REE debuted on the Nasdaq under the ticker $ REE.

REE Automotive is now launching into the running following its approved merger by announcing a new head office on American soil.

A REE corner module / Source: REE Automotive

REE Automotive’s new headquarters will be in Austin, Texas

In A press release this morning, REE Automotive shared plans for a U.S. headquarters in the booming city of Austin, Texas, promising more than 150 jobs over the next few years.

Additionally, Austin will house REE’s first asset light integration center, where it will assemble and test its REEcorner technology and modular electric vehicle platforms.

The new integration center brings REE’s technology to current and future North American automotive partners. REE co-founder and CEO Daniel Barel shares his thoughts on the city:

Establishing our US headquarters in Austin, Texas best positions us for rapid growth and expansion. Austin is fast becoming a global hotbed for elite tech professionals. REE must continue to grow and prosper, and Austin’s drive and entrepreneurial spirit fits perfectly with REE’s culture and values. Our presence in the United States will allow us to capitalize on the incredible opportunities in the United States market and to connect with our customers and partners based in North America, including Magna International and JB Poindexter, as we work together to develop and deliver modular electric vehicles (MEV).

A representative from REE Automotive said Electrek the company will inaugurate the new headquarters and the new integration center this year.

Construction is expected to be completed in the second half of 2022 and has an annual capacity of 40,000 modular EV platforms.

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Soldo raises $ 180 million for its professional expense management platform – TechCrunch

Managing expenses has long been a headache for employees and accounting departments. For many, tracking and analyzing how money is spent on behalf of businesses is stuck in legacy software that is not well equipped to handle the latest demands. Today, British startups building solutions to bring the process into the 21st century are announcing a major funding round to double their growth.

BalanceProvide employee prepaid corporate card issuance platform linked to automated expense management system, achieved $ 180 million funding. Soldo currently has around 26,000 customers, from small and medium businesses to large multinationals in 30 countries, with Mercedes-Benz, GetYourGuide, Gymshark, Bauli and Brooks being popular. It’s a. Those.In addition to that, through the API, it also integrates With popular accounting packages used in organizations today – Ability to connect NetSuite, QuickBooks, Zucchetti, Xero and Soldo to over 50 expense management platforms, including Concur and Expensify.

The Series C cycle is led by Temasek of Singapore, with participation from Sunley House Capital, Advent International’s Crossover Fund, City Ventures, and former backers Axel, Battery Ventures and Dawn Capital. Silicon Valley Bank also provided a private amount of debt financing.

London-based company Sold was also unclear in its latest investment statement, but for reference, when it started raising funds in December, the company had around 278,800 people. It was valued at $ 10,000. PitchBook Data.. At the event, Sold said the tour was oversubscribed in the context of the company’s strong growth. Platform spending has quadrupled compared to the B-Series. $ 61 million for the 2019 round.. (Note: Soldo’s main business is in London, but it has a small head office in Dublin. Electronic Money License Part of the Brexit coverage in Ireland in 2019.)

More generally – and maybe because a lot of us spend more time away from headquarters, or maybe because some of us end up going out to meet people – the expense Management currently receives a lot of money. Warning. Earlier this month, Danish Pleo, one of Soldo’s biggest competitors, Raise $ 150 million at a valuation of $ 1.7 billion..

It’s a big market. The company claims the European expense management market is $ 170 billion.

At the heart of the challenge Soldo is trying to solve, spending is typically a very fragmented, undigitalized business, and the employees who rack up the spending aren’t usually accountants. In short, properly managing expenses is not one of our key skills. .. On the other hand, the costs themselves have evolved to cover all the by-products that have become easier to buy online, the way we work today, and much more. This can include memberships, travel and entertainment, home office supplies, etc. Purchase on behalf of the company for marketing campaigns, online advertising, etc.

If expenses are incurred digitally, tracking is easy, but often for services or goods purchased from IRL. This causes other problems. People often forget to get a receipt or lose it before filling out a report. Or pay for things out of pocket.

In addition, expenses are incurred by company card or bank transfer. The former is expensive and can be difficult to manage, while the latter has its own challenges. The process is slow and often requires several people to settle the payments.

Soldo’s approach to remedy this is first of all to facilitate the issuance of prepaid cards to employees in order to better manage their expenses. Then link the card to the application. The app will create an automatic prompt that will appear every time you make a purchase with your card, notifying you to get a receipt and download it.

“Soldo’s vision is to manage total business expenses, including advertising, software subscriptions, travel and entertainment, vendor management and payroll for all payment methods. Cards are just one of the many ways businesses can send money to their vendors, ”Email TechCrunch told TechCrunch. Carlo Guualandri, CEO and founder of Soldo. Unlike competitors like Pleo, he said: It’s important. This is because as the largest share of business expenses is transferred there, it becomes more valuable to customers using the expense management platform. “

Without a doubt, the growth of the company since its inception five years ago has seen a big slowdown in the form of Covid-19. The resulting recovery is proof that even the current market has found its place.

“The pandemic has almost completely wiped out travel and spending as a use case for corporate spending, given that a limited number of workers have traveled and had lunch on blockades,” Gualandri said. said sir. “It was very shocking to see Europe as a whole in the first weeks of March last year as people stayed at home due to the blockade. As a result, the trip is the number one company card. a. Due to its popularity and widespread use, a significant portion of financial services revenue was also lost. “But then two things happened. He continued.

“The number of spend use cases for other businesses has grown dramatically. There has been a global transition to e-commerce and the digitization of the financial sector. From supporting homeworkers to other business activities. There is a definite shift towards online shopping and you need a card to pay, ”he said. “In addition, many companies have started to distribute their products and services online, shifting most of their spending to online marketing. This is an example of a large expense that is usually paid for using a card. There have certainly been instances where some categories of spending have decreased and others have increased rapidly. I realized that many issues related to the pandemic have arisen and can be resolved. “

“Our experience with software and payment technologies gives us in-depth insight and Sold is at the forefront of financial digitization,” said Simon Lambert, director of Sunley House, Advent International’s cross-fund, in a statement. I’m sure I’ll stay on my feet. “The company operates in a large and rapidly growing market and is excited to join forces with a strong management team looking to create the leading payroll and expense automation platform in Europe. “

Soldo raises $ 180 million for its professional expense management platform – TechCrunch Source link Soldo raises $ 180 million for its professional expense management platform – TechCrunch


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US probes overheated brakes causing fires in 500K semi-trailers

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FILE – In this file photo from March 31, 2021, automobile traffic moves along Interstate 76 in Philadelphia. US road safety regulators opened an investigation on Tuesday, July 20, into about half a million semi-trailers whose brakes can catch fire. (AP Photo / Matt Rourke, file)

PA

US road safety regulators have launched an investigation into about half a million semi-trailers whose brakes can catch fire.

The National Highway Traffic Safety Administration said in documents posted on its website Tuesday that it had 11 brake complaints filed by Haldex Commercial Vehicle Systems, including seven fires. No injuries were reported.

The complaints indicate that the problems mainly arose in the Kenworth and Peterbilt semi-finals. The agency is studying the brakes for the 2015 to 2020 model years.

NHTSA says the investigation is focused on certain Haldex Gold Seal brake receivers, which convert compressed air into mechanical force that stops trucks. He says a spring can snap, puncture a diaphragm and cause air loss. This can cause the brakes to slip without warning the driver and possibly cause fires.

The fires caused extensive damage to trucks and, in some cases, cargo, the agency said. NHTSA says it has learned that several truck fleets have problems with brake receivers. He says Haldex has replaced the brake receivers on some fleet vehicles.

NHTSA says it will determine how often the problem occurs and what patterns it affects. An investigation can lead to a recall.

Messages were left on Tuesday seeking comment from Haldex, which is headquartered in the United States in Kansas City, Missouri.


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VivoPower International PLC announces Mongolian $ 29 million

  • Mongolian automotive leaderotives distributor Bodiz International SARL Group for buy 350 electric light vehiclekey conversion kits from the VivoPower Tembo e-LV subsidiary BV above following 5 years.
  • VivoPower eto estimateit’s the value of the Distribution Agreement to be US DOLLARS $29m.
  • the Distribution Agreement Marks of the society Fourth major distribution agreement on the other side four continents.

LONDON, July 20, 2021 (GLOBE NEWSWIRE) – VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that the Company has entered into a definitive agreement with Bodiz International Group LLC (“Bodiz” or the “ Distributor ”) for Bodiz to distribute light electric vehicles (“ e-LV ”) in Mongolia using e-LV conversion kits from VivoPower’s wholly-owned subsidiary, Tembo e-LV BV (“ Tembo ”) .

Under the agreement (the “Distribution Agreement”), Bodiz intends to purchase 350 Tembo e-LV conversion kits through December 2026. The Company estimates that these orders represent up to $ 29 million. in potential revenue dollars over the life of the Distribution Agreement. Bodiz will be responsible for the acquisition of the original Toyota vehicles, the conversion of the vehicles to e-LV reinforced using Tembo solutions, the sale of the units to end customers and the provision of maintenance and continuous maintenance.

Tembo kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into rugged e-LVs for use in mining and other hard-to-decarbonize industries including construction and defense. In addition to solar power generation, battery storage and on-site power distribution, Tembo’s e-LV products are a key part of VivoPower’s turnkey net-zero solutions for business decarbonization.

This distribution agreement marks VivoPower’s fourth major distribution agreement in 2021 for Tembo e-LVs across four continents and continues to advance the company’s goal of building a global Tembo distribution network before the end of this year. The company previously entered into distribution agreements with GB Auto Group in Australia and Acces Industriel Mining Inc. in Canada and also announced non-binding terms of reference with Arctic Trucks Limited for the distribution of Tembo e-LV in Norway, Sweden. , Iceland and Finland. . This latest agreement is expected to be finalized in the coming weeks.

Based in Ulaanbaatar, Bodiz has been distributing rugged SUVs and other heavy vehicles in the Mongolian market since its establishment in 1997. In addition to the distribution of Tembo vehicles, the distribution agreement provides for Bodiz to send technicians to the head office. of Tembo in the Netherlands to be trained in Conversion e-LV, as well as a potential expansion of Bodiz’s facilities to serve Tembo electric vehicles.

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are delighted to continue to expand our global distribution network for Tembo e-LVs through this partnership with Bodiz. With the signing of this distribution agreement, Tembo’s e-LVs will be available to mining companies and other heavy industry customers aiming to decarbonize their fleet operations through distribution partners on four continents. We look forward to building this relationship and working with Bodiz to help more clients achieve net zero. “

Dulguun Baatarsoukh, CEO of Bodiz, said: “Bodiz is very happy to become a member of the Tembo e-LV family. Mongolia’s economy, especially the mining sector, is growing rapidly with one of the richest mineral resources in the world. It is an honor to sign this distribution agreement with VivoPower for Bodiz in order to introduce e-LV Tembo to our domestic market and to participate in the global change of electrification. I hope that we will continue to strengthen this long-term partnership and cooperation and make a significant contribution to the mining sector in our region.

About VivoPower

VivoPower is a sustainable energy solutions company focused on battery storage, electrical solutions for custom and rugged fleet applications, solar and critical energy technology and services. The main objective of the Company is to provide its customers with turnkey decarbonization solutions that enable them to progress towards net zero carbon status. VivoPower is a Certified B company with operations in Australia, Canada, the Netherlands, the United Kingdom and the United States.

About Bodiz

Bodiz is one of the leading distributors of all types of vehicles, specially equipped cars and auto parts in the Mongolian market. Since 1997, Bodiz has supplied the best products to its consumers in many countries of the world. Bodiz provides products based on the requirements of its customers, with an emphasis on high quality and advanced technology.

All trademarks mentioned here are the property of their respective owners.

Distribution agreements

This distribution agreement provides a framework within which VivoPower can enter into sales contracts for e-LV conversion kits to be installed in vehicles intended for sale to customers. Under the distribution agreement, the distributor will serve as VivoPower’s exclusive distributor in the marketing, promotion and sale of electric vehicles in Mongolia, and will also assemble and install the e-LV conversion kits provided by VivoPower in the vehicles. that the distributor obtains from the original equipment manufacturer (“OEM”). The distribution agreement contains a provision to the effect that the parties will not have an agency, joint venture or partnership relationship.

The distribution agreement includes a commitment by the distributor to purchase a minimum of 350 Tembo e-LV conversion kits (for Toyota 4×4 vehicles) during the first five years of the agreement. This is based on the Distributor’s management estimates regarding future purchases from its customers. These commitments should be fulfilled as soon as the Distributor has generated these e-LV purchase orders with its end customers. The Distributor shall not be required to make payment for its orders for e-LV conversion kits until end customers have placed purchase orders for e-LVs or the Distributor has purchased any kits. conversion prospectively before orders from end customers. In the event that the Distributor does not meet the minimum purchase commitment, the Distribution Agreement will be subject to a review process. If no acceptable resolution is reached, VivoPower is entitled to refuse the exclusivity of the distributor in Mongolia.

VivoPower estimates that potential e-LV conversion kits that it believes could be sold as part of the distribution deal could represent around $ 29 million in revenue. This estimate does not represent a firm commitment for purchase orders, and actual results may differ materially. VivoPower naturally does not make public projections as to future sales, profits or other results. VivoPower’s management prepared such an estimate based on their good faith judgment using what they believed to be reasonable assumptions regarding future sales of e-LV to end customers in Mongolia. Since future sales of e-LV remain conditional on the successful negotiation of sales contracts to end customers, and the quantity, price and timing of each sales contract will be different, this estimate is not a formal projection of future revenues, but an indication of the expected value of these contracts for VivoPower. The estimated potential revenues attributed to the Distribution Agreement do not represent measures of income or profitability, and do not take into account the costs that would be incurred in the course of achieving the estimated values. The foregoing estimate is subjective in many respects and there can be no assurance that actual results will not differ materially from these estimates. Therefore, as with any projection or forecast, investors are cautioned not to place undue certainty on sales estimates under the Company’s distribution agreements.

Other terms governing other aspects of the Distribution Agreement with the Distributor are being finalized and depend on the outcome of commercial negotiations with OEM counterparties.

Forward-looking statements

This communication includes certain statements that may constitute “forward-looking statements” for the purposes of US federal securities laws. Forward-looking statements include, without limitation, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intention”, “may”, “could”, “,“. “Anticipate”, “plan”, “should”, “should” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the potential benefits of working with Bodiz, the number of vehicle conversion kits that should be purchased and the expected income from such collaboration. These statements are based on the current expectations or beliefs of VivoPower’s management and are subject to risks, uncertainties and changes in circumstances. Actual results may differ materially from those expressed or implied in these statements due to changes in economic, business, competitive and / or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, managing rapid growth, the intensity of competition from other product suppliers and services, changes in general economic conditions, geopolitical events and regulatory changes and other factors set forth in the documents filed by VivoPower with the United States Securities and Exchange Commission. The information contained in this document should be read in light of these risks. VivoPower has no obligation and expressly disclaims any obligation to update or change its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.


        


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Raleigh County Large-Scale Solar Project Has New Owner | Energy and environment

One of West Virginia’s first large-scale solar projects is moving forward under new ownership.

Enel Green Power, a global renewable energy developer headquartered in Rome, has taken over the project to build and operate a 90-megawatt solar farm in County Raleigh approved by county officials and officials. state utility regulators last year.

Enel Green Power purchased a 100% stake in the project as part of a portfolio of 3.2 gigawatt solar projects from Dakota Renewable Energy.

Operations are scheduled to begin in 2023 on a solar farm consisting of 250,000 solar panels on 530 acres in the Grandview area.

“What made it very appealing about this particular site was the major overhead power grid lines,” Raleigh County Administrator Jay Quesenberry said. “It’s very easy for them to put this electricity directly into a substation and put it directly on the grid.

Enel Green Power said the project will be the first of several developing solar projects in the state. Projects under development in West Virginia, including the Raleigh County project, will include paired battery storage to add resilience to the electricity grid as the country develops more renewable energy.

“In West Virginia, I think we have a huge opportunity,” said Nick Coil, senior director of regional development at Enel Green Power, whose North American branch operates 58 power plants of over 6.6 gigawatts powered by gas. renewable wind, geothermal and solar energy.

Coil said the lack of large-scale solar power generation facilities in West Virginia makes the state ripe for development that could generate tax revenue for counties and school districts, even though the mountainous terrain of the state may ultimately limit the state’s appeal to an industry that values ​​flatter land for laying down blocks of solar panels.

“Hopefully Raleigh will be one of the first of many projects in the state,” Coil said. “We are delighted with this opportunity to enter a new market. “

Coil declined to say how much Enel Green Power paid to purchase the solar project.

Raleigh Solar I, LLC, a subsidiary of Dakota Renewable Energy, estimated the project would cost $ 90 million before the West Virginia Civil Service Commission approved a site certificate for the project in October.

The Civil Service Commission order granting this certificate applies to all subsequent owners of the project, approving a decommissioning agreement with a minimum initial guarantee of $ 50,000 and requiring that construction begin within five years and be completed. complete within 10 years.

The Raleigh County Commission in September approved a payment in lieu of taxes deal with Raleigh Solar to inflate the county coffers by more than $ 2 million, with the bulk going to the Raleigh County Board of Education .

The project will create three to five permanent jobs which Coil says are “mostly local” and 150-200 jobs throughout the construction process which could take anywhere from eight months to a year.

Coil estimated that the 90-megawatt solar farm’s capacity is generally sufficient to power around 16,000 homes. The County of Raleigh’s projected power generation is about average among Enel Green Power’s lineup of solar projects, Coil said.

West Virginia lawmakers opened up the state’s solar market during the 2020 legislative session by passing bills creating a solar services program and favorably adjusting the business and trade tax for solar power.

In statements released by Enel Green Power, West Virginia Governor Jim Justice and U.S. Senator Joe Manchin, DW.Va., praised the state’s solar business and development while clearly indicating their continued support for the fossil fuels in addition to renewable energies. .

“I am incredibly excited for all the good that Enel Green Power’s acquisition of the Raleigh Solar Project will do for our great state and our people,” Justice said. “As I have said many times, West Virginia is an ‘all-in’ energy state. We abound in a diverse range of natural resources unlike anywhere else on Earth. Not only will this project continue to diversify our state’s energy production and enable us to power people’s homes in a sustainable manner, the ripple effects on our economy and our workforce will be phenomenal.

“The announcement of a major solar project in West Virginia is great news for our state as it highlights, once again, the abundant natural resources there,” said Manchin, Chairman of the Senate Energy Committee. and natural resources. “From coal and natural gas to wind, solar and hydropower, the Mountain State has been – and will continue to be – the backbone of the U.S. economy, and investments like this These allow us to continue to use all of the above for power generation and job creation while deploying innovative energy technologies and maintaining our country’s position as a global energy leader.

The Solar Energy Industries Association ranks West Virginia 49th in the country for installed solar power capacity.

Another large-scale solar project is planned in Berkeley County, which County Council announced in January that a renewable energy development company plans to install a $ 100 million solar power generation facility. dollars in a former explosives plant at DuPont Potomac River Works.

Bedington Energy Facility, LLC, a Delaware subsidiary of Colorado-based Torch Clean Energy, plans to invest $ 100 million to build a 100-megawatt solar installation on 750 acres of land on a site that has been designated as a wasteland. industrial “unsuitable for most commercial enterprises.” and industrial uses, ”according to a payment in lieu of tax agreement between Berkeley County Council and Bedington Energy Facility.

Coil predicts tremendous growth in the solar industry over the next five years, in line with current market forces, and claims that Enel Green Power will share the wealth by sponsoring STEM (science, technology, engineering and math) education and d other initiatives that rural communities identify as priorities.

“We’re not just going to come in and be a silent observer in the community,” Coil said. “We want to be an active participant and help the community. “


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International headquarters

Patricia moves its head office to Europe

Patricia Technologies Limited is proud to announce that we have moved our operations to the Republic of Estonia, with our headquarters now domiciled in the Northern European country.

This global move is intended to strengthen our relationships with marketers and agencies in the global crypto markets, while also positioning us as the leading cryptocurrency trading company in Nigeria, Africa and Europe.

With this recent development comes the launch of our new upgraded Patricia version 2 app, which features many new updates and upgrades including crypto exchange; a betting feature that allows users to use crypto to place bets; the app also introduces new cryptocurrencies (coins) to be added to the already existing Bitcoin. There is also an automated buy limit for crypto traders, and the top-up service has also been upgraded to include international transactions.

Looking at how we have managed to dominate the Bitcoin market over our 3 years of existence, our CEO and Founder, Hanu Fejiro Agbodje joked that “What was originally disastrous news turned out to be cornerstone we needed for this global expansion “referring to crypto Trade Ban by the Nigerian government.

He also noted that “the decision to expand and move our headquarters to Europe is part of our plans to improve our business strategy”. “We want to play in the big league, there is no passion to play in the small, we want to be in the most sophisticated markets in the world, it is an opportunity for us to lead the Fifth Revolution”.

As one of the industry’s fastest growing financial solutions providers, our goal is to empower brands and individuals to take control of their digital finances through an advanced cross-border payment solution provided by Patricia Business. .

We currently have an established presence in Ghana, Kenya, South Africa and China.

For more information or to contact us, please send an email to: [email protected]

About Patricia

Patricia is an Africa-centric, integrated e-commerce and alternative payment company that facilitates the use of digital currencies like Bitcoin and other digital assets for day-to-day transactions.

We pride ourselves on the knowledge, skills and expertise of our employees who work together as a team to complete projects. Valuing the importance of relationships, we have a collaborative approach that is flexible and can respond quickly to the needs of our users.

Our offerings include buying, selling, the ability to store, spend (Patricia Bitcoin debit card) and exchange cryptocurrencies, as well as Patricia Refill services (daily activities such as buying time and money). antenna, subscription services with crypto).


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