Transportation

Airlines Automotive Electric Vehicles Logistics Maritime
News Release Digital Asset Direct

Ocean Power Technologies announces major milestone in the field of autonomous maritime technology

Ocean Power Technologies Inc

Ocean Power Technologies vice president of sales Matt Burdyny joined Steve Darling from Proactive to share an exciting development within the company. Ocean Power Technologies has achieved a significant milestone by successfully demonstrating the capabilities of its Wave Adaptive Modular Vessel during the 10th Annual Maritime Security West event. During the event, the company showcased the WAM-V's capability to remotely attach itself to a buoy and establish a connection for charging. Burdyny explained to Proactive that the achievement was the outcome of on-water trials conducted earlier in the month. This successful connection and charging capability represent a notable advancement in integrating renewable energy sources within the maritime industry. Burdyny emphasized that this achievement has important implications for the future of autonomous vessels. The successful docking of the WAM-V to the buoy demonstrates the potential for extended-duration autonomous operations, which could open up a range of applications within the maritime sector. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

August 22, 2023 01:32 PM Eastern Daylight Time

Video

NAVEX Enhances Communication with AI-Driven Translations

NAVEX Global

NAVEX, the leader in integrated risk and compliance management software, announces the launch of a new NAVEX One platform shared service: dynamic machine translations. This first-to-market addition in the governance, risk and compliance (GRC) space will empower organizations operating across different countries to overcome language barriers, enabling accurate risk and compliance-related communication between employees, third parties and program administrators. NAVEX understands the challenges organizations face in maintaining accurate communication when dealing with sensitive data arising from risk and compliance tasks. Many organizations struggle with language barriers, hindering effective collaboration. With varying language skills among responders, the potential for misunderstandings and misinterpretations can be detrimental to decision-making and compliance efforts – especially in time-sensitive cases. "NAVEX is pioneering the future of machine translations within the GRC space, directly tackling the complexities of multilingual communication," stated A.G. Lambert, chief product officer at NAVEX. "The integration of secure machine translation into NAVEX One makes it simple for GRC professionals to translate disclosures, assessments, and responses, leading to better communication and faster resolution." The introduction of dynamic machine translations addresses these issues and improves communication efficiency. With advanced artificial intelligence technology, this shared service allows end users to translate directly from the NAVEX One user interface. How machine translations work In the past, administrators encountered the repetitive task of manually copying text, relying on external translation tools, and then painstakingly inputting the translations to proceed with their workflow. However, with the introduction of the machine translations shared service built on Amazon Web Services (AWS), administrators are now equipped to address important matters promptly and efficiently, leading to quicker resolution rates. Moreover, administrators can assess third-party entities proficiently, regardless of the languages they speak or the answers they provide. The user-friendly NAVEX One interface makes translating disclosures, evaluations, and responses easy, promoting smooth communication and understanding. "By relying on the broadest and deepest set of cloud services on AWS, including Amazon Translate, NAVEX is able to use machine translations within the governance, risk and compliance space, directly tackling the complexities of multilingual communication,” stated Venky Nagapudi, Senior Product Management Leader, Amazon Translate, AWS. “The work between NAVEX and AWS makes it easy to translate disclosures, assessments, and responses, leading to better communication and faster resolution." Key benefits of NAVEX One machine translations include: Multilingual support: The system supports 75 languages, facilitating seamless communication with stakeholders worldwide. Accurate and reliable: Powered by advanced neural network technology, the feature ensures precise translation of critical information. Streamlined workflow: The translation functionality integrates seamlessly into existing GRC workflows, saving time and effort for administrators and responders. Cost-effective translations: Organizations can deliver faster results and decrease operational costs by reducing the need for external translation services. Data privacy: Advanced technical and physical measures, including encryption at rest and in transit, are used to prevent unauthorized access or sharing of content. Incorporating a dynamic machine translation service highlights NAVEX's continued commitment to fostering innovative solutions throughout the NAVEX One platform. By seamlessly integrating artificial intelligence and machine learning capabilities, NAVEX continues to empower companies to overcome language obstacles, promoting cross-cultural teamwork and elevating the effectiveness of GRC processes. As NAVEX continues to leverage AI and ML, it cements its position as a leader in cutting-edge technology within the GRC space. The NAVEX One GRC – Information System Multilingual Machine Translation marks a bold stride in NAVEX’s innovative journey following the recent launch of the NAVEX Compliance Assistant. NAVEX's unwavering commitment to AI/ML innovation propels the governance, risk, and compliance landscape into a new era. By harnessing the power of AI, NAVEX is reshaping the compliance landscape, streamlining intricate processes, and automating tasks. This first-to-market shared service accelerates and enhances compliance initiatives while fostering clarity across your organization. Navigate the future of compliance with your AI-powered ally, simplifying employee compliance in ways that redefine ease and efficiency. For more information, visit the NAVEX One Platform. And read our blog. NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system. For more information, visit NAVEX.com and our blog. Follow us on Twitter and LinkedIn. Contact Details Scott Levesque +1 617-388-5773 scott.levesque@navex.com Company Website https://www.navex.com

August 22, 2023 08:00 AM Eastern Daylight Time

DB Schenker Releases Americas Logistics Video Series Featuring Port of Montreal as a European & Asian Gateway

DB Schenker

As one of the world’s leading logistics service providers, DB Schenker recently released an acclaimed video series focused on key logistics gateways in the Americas. Through a series of five short videos, the global organization shines a spotlight on the Port of Montreal in Quebec, Canada, the largest port in Eastern Canada. Hosted by DB Schenker, the Q&A sessions feature Paul Bird and Guillaume Brossard and Daniel Dagenais of Port of Montreal. Together, they discuss the current challenges ports across the globe are facing and what measures they’re taking to combat them in the region. And, the strategies and actions they and are committed to remain the resilient and congestion-free port it is renowned for. From the international perspective, Susanne Aschi, Silvia Costantini, and Chloe Adams discuss their roles as Consul generals and how they’re connecting the Port of Montreal to their home countries of Germany, Italy and the UK. In addition, Yves Lapere, the Economic and Commercial Attache, Mission of Flanders gave a Belgium based perspective. Connected to more than 140 countries in the world, the Port of Montreal is the largest port in Eastern Canada. The diversified port handles all types of cargo, with dry bulk, liquid bulk and containers being the largest sectors. The expansive facility handles all types of goods and works in many industries. The port welcomes more than 2,000 ships per year, 2,500 trucks per day, 60 to 80 trains per week, and 50,000 cruise passengers and cruise members across 13 cruise lines. All the major global shipping lines offer their services at the Port of Montreal, with services with Northern Europe, the Mediterranean connecting the Middle East, Asia and other global markets. The port is connected to two Class 1 railways in Canada, the Canadian National and the CPKC, offering its partners reliability, fluidity and optionality. Often referred to as the “economic engine of Greater Montreal,” the vibrant port is a diversified facility built on an efficient logistics ecosystem that handles around 6,300 different businesses. These numbers will be increasing in the near future. “It's important for us to stay mission-focused on building capacity for our clients. For the next four years, we're aiming to build our future expansion project, which is the Contrecœur terminal, which is about 30 miles downstream from here,” says Paul Bird, VP of the Contrecœur Project and Head of Digital Transformation for Port of Montreal. “That includes adding 60% capacity for an overall 1.5 million TU capacity over and above the current capacity in Montreal. That's where we're heading and how we're [responding to] the market.” A critical part of Canada’s logistics and transportation infrastructure, the Port of Montreal is the country’s second-largest container port and Europe is its main market. “That means that a large proportion of the trade between the UK and Canada in goods passes through the port of Montreal,” Chloe Adams, British Consuls General in Montreal, explains, who also sees more growth ahead. “We hope to see that [number] increase as trade between our two countries increases,” Adams adds. “There was a 17.5% increase in two-way trade between the UK and Canada between 2021 and 2022, and we're hoping that the trajectory will continue.” To view the full videos, click on the links below: https://nowthatslogistics.com/meet-the-largest-port-in-eastern-canada-port-of-montreal/ About DB Schenker Americas DB Schenker is one of the largest Integrated Logistics Service Providers in the Americas with more than 10,000 employees in 123 locations providing over 27 million sq. ft. of distribution operations to its clients. DB Schenker’s Americas presence includes Argentina, Brazil, Canada, Chile, Guatemala, Mexico, Panama, Peru, United States, and Venezuela. DB Schenker offers land transport and air and ocean freight, as well as comprehensive logistics solutions and global supply chain management services from a single source. With integrated partners across the Americas, DB Schenker provides the best combination of intimate local practices knowledge and global capabilities. Contact Details Nicholas Leighton +1 949-478-5880 nick.leighton@nettresultsLLC.com Company Website https://www.dbschenker.com/

August 17, 2023 03:00 PM Eastern Daylight Time

News Release

Cepton announces record LiDAR shipments as company unveils 2Q earnings

Cepton Inc

Cepton Inc. vice president of Product Brunno Moretti joined Steve Darling from Proactive to discuss the company's second-quarter performance and strategic developments. Cepton has achieved a new company record for shipments of LiDAR technology across the automotive and smart infrastructure markets, showcasing the company's strong momentum. Moretti highlighted that Cepton is anticipating a significant increase in shipment volume for each subsequent quarter throughout the remainder of the year. The company is also actively fulfilling a multi-million dollar tolling contract, a significant achievement within its portfolio. In addition, Moretti mentioned the company's strategic expansion, particularly in Detroit, where Cepton has bolstered its team with industry expert Luis Gonçalves, formerly associated with General Motors (GM) and the American automotive sector. This move is expected to support Cepton's volume production operations and enhance its market presence. Cepton's strong 2Q performance, strategic partnerships, and expansion efforts underscore its commitment to advancing lidar technology and its applications in the automotive and smart infrastructure sectors. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

August 17, 2023 12:56 PM Eastern Daylight Time

Video

Agora Data Successfully Secures $160 Million in Fourth Private Term Financing

Agora Data, Inc.

Agora Data, Inc., a fintech company transforming automotive financing for U.S. car dealerships by offering abundant, low-cost capital with precision loan performance data and analytics, closed a $160 million private term financing on August 11, 2023. This latest transaction represents the fourth privately placed term financing for Agora. Each of the company’s first three term financings performed better than projected. “To close a term financing transaction in today’s challenging market conditions is proof-positive of the strength of the Agora team and how accurately we manage and predict portfolio performance,” said Steve Burke, CEO, Agora Data. “Fueling Agora’s mission to enable any car dealer to be a finance company, this $160 million private term financing provides additional funding capacity and reiterates our commitment to our customers’ future growth.” The $160 million private term financing marks a significant milestone in Agora Data’s growth trajectory. The company closed the first-ever crowdsourced auto securitization in late 2020, introducing a new way for car dealerships to access capital markets financing by aggregating loan portfolios of varying sizes. The company’s diversified financing strategy has resulted in multiple successful crowdsourced securitizations and private term transactions, all powered by its proprietary artificial intelligence (AI) and machine learning algorithms. With its patent pending modeling that delivers unparalleled accuracy, Agora leverages over $350 billion of loan data for car dealerships to optimize their non-prime portfolios. As a result, more favorable financing terms and highly competitive loan interest rates are available, reshaping the landscape of lending possibilities for dealers and finance companies to finance more non-prime customers, sell more cars, and make more money. Access to abundant capital has been a longstanding challenge for U.S. car dealers who offer or who want to offer financing to non-prime customers. Agora proactively addresses these challenges and presents a transformative fintech approach for dealers to keep their customers and make a gross profit on cars and financing profit on loans. # # # About Agora Data, Inc. Agora Data, Inc. is an automotive industry fintech revolutionizing financing for car dealers and finance companies. Car dealerships can secure affordable capital to build their own non-prime captive finance company, obtain actionable loan performance data to improve their lending portfolios, and use a wide range of solutions to grow their business safely. Powered by patent pending artificial intelligence (AI) and machine learning technology, car dealers can access real-time data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever crowdsourced non-prime auto securitization in 2020 and continually brings groundbreaking financing solutions to an underserved market. For more information, visit www.agoradata.com or contact us at 1-877-592-4672. Contact Details Eric Nemeth nemeth@ericpr.com Company Website https://agoradata.com/

August 17, 2023 09:06 AM Eastern Daylight Time

US Global Investors discusses airline growth, infrastructure upgrades, and the JETS ETF

HANetf

US Global Investors Chief Investment Officer Frank Holmes discusses the state of the airline industry and the US Global JETS UCITS ETF in an interview with Proactive's Stephen Gunnion. Holmes highlighted the positive growth in the US airline sector and the efforts being made to enhance infrastructure and energy efficiency in airports. He pointed out that significant investments are being made to upgrade facilities, create high-paying jobs, and address the shortage of pilots due to retirements. Holmes also emphasized that the push for energy efficiency is creating a more sustainable and efficient travel experience, aided by technologies such as AI and facial recognition. He noted that upgrades are attracting business travelers, who are experiencing shifts in demographics due to remote work opportunities. The ETF's success is attributed to continuous research and analysis, mirroring the industry's dedication to improved technology and customer experience. The US Global Jets UCITS ETF ‘JETS’ delivers exposure to the global airline industry including airline operators and manufacturers from all over the world. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

August 15, 2023 12:58 PM Eastern Daylight Time

Video

VINCUE Secures Series B Funding to Scale and Advance Innovative Technology

DealerCue Automotive Corp.

For Immediate Release – DealerCue Automotive Corp. (“VINCUE”), maker of VINCUE, the revolutionary end-to-end inventory lifecycle solution for retail automotive dealerships, today announced the completion of its Series B investment round led by Holman, a global automotive services organization, and followed by Autotech Ventures (“Autotech”) and Automotive Ventures, a pair of venture capital firms with portfolios spanning automotive, transportation, and technology. The investments are the first major institutional investments for VINCUE and enables the company to scale operations, advance its product roadmap, and meet increasing market demand. “Holman is a remarkable organization with an unsurpassed collection of automotive competencies and is held in extremely high regard across the entire industry. We’re thrilled Holman believes in the significant potential of our technology and is at the forefront of this investment in our company,” said Chris Hoke, Founder, Chief Executive Officer, and Chief Technology Officer of VINCUE. “Holman is an innovator in our industry and the organization’s forward-thinking mindset along with its strategic capital investment will help to fuel our company’s continued growth.” Holman delivers a unique range of automotive-centric services and operates one of the largest privately owned dealership groups in the United States with more than 30 franchise dealerships across eight states from coast-to-coast. Danny Zaslavsky, Co-Founder and Managing Partner of VINCUE says that the collaboration started as a simple customer/vendor relationship, but both companies realized there were a number of natural synergies. “As Holman piloted our platform in several of their dealership locations, it quickly became apparent that our technology would help them further optimize operations while also enhancing our own capabilities,” said Zaslavsky, “we’re proud that Holman shares our vision for the future of automotive retailing and we’re honored they’ve invested in our innovative inventory management solution.” Through its unified platform, VINCUE offers a comprehensive suite of solutions and capabilities to manage every step of the inventory lifecycle including buying plans, multi-channel acquisition sourcing, market pricing and appraisal, merchandising and syndication, and digital marketing. The goal of a unified platform is to help dealers unlock prevailing strategies that increase gross and turn through providing real-time market and competitor data to make better buying and merchandising decisions - and outperform the market. "The mission of our growth ventures team is to align with early-stage businesses who are driving innovation in the industry and complement Holman’s collective automotive competencies. VINCUE certainly fits that profile and we’re excited to invest in their next phase of growth,” said Bill Cariss, President and CEO, Growth Ventures, Holman. “The VINCUE team is extremely talented and continues to think differently about inventory lifecycle management. Their intuitive platform is poised to disrupt the status quo of the retail automotive sector and offers dealerships a solution that empowers insightful decision making.” As part of its investment in VINCUE, Holman is also poised to integrate the technology at additional locations across its family of dealerships. By leveraging VINCUE's platform, Holman is able to further enhance its market intelligence to introduce new operational processes and procedures that it hopes will set the standard for the future of automotive retailing. “Through our initial use of VINCUE’s technology, we believe it provides the data intelligence and tools necessary to make impactful decisions, measure success, and ultimately, outperform the rest of the market in real-time,” says Chris Morgan, Vice President, Retail Operations, Holman. Following Holman, both Autotech and Automotive Ventures will also be providing capital as part of the Series B investment. Autotech Ventures is an early-stage venture capital firm with more than $500M under management and a mission to solve the world’s ground transport challenges with technology. Its investment team includes: Quin Garcia, Managing Director; Alexei Andreev, Managing Director; Maurice Gunderson, Managing Director Emeritus; Burak Cendek, Partner; Daniel Hoffer, Venture Partner; Tony Rimas, Venture Partner; and Esat Canli, Analyst. "Automotive as a whole has largely been left out of the digital transformation happening in other retail industries, often relying on lagging indicators for buying and selling decisions from legacy software tools built decades ago.” said Rimas. “VINCUE offers modern solutions built on real-time data and intelligence to help dealers outperform the market instead of race to the bottom of it.” Led by Steve Greenfield, Founder and Chief Executive Officer, Automotive Ventures promotes itself as funding the next wave of innovation in transportation technology. Its leadership team includes: Justin Charbonneau, Venture Principal; Andrew Gordon, Head of Value Creation; Adam Lafferty, VP of Operations; Brian Reed, Operating Partner; and industry veteran Chip Perry, Operating Partner. “VINCUE fits our mission perfectly,” says Greenfield, “they are looking into the future of technology and automotive and building solutions for today and beyond.” Greenfield says their decision to invest was as much about product as it was about the vision. “We know the industry and the market is changing, VINCUE is doing something about it,” he said. “We have a team here in Kansas City that truly believes in our vision, our mission, and most importantly the success of the entire dealer body,” said Hoke. “To have these institutions, true industry leaders, share our vision and put their belief in us is humbling.” Hoke says that VINCUE’s top priorities are now growing its Performance Management and Development teams, and investing in operational improvements that will allow them to get more done, faster. “We have the benefit now of dealerships seeking us out in the industry, wanting to understand how we can help them win,” he said, “so right now it’s about how we scale, grow, and meet their expectations.” # # # About VINCUE VINCUE is transforming the retail automotive software industry by providing dealers with new, innovative end-to-end inventory lifecycle management and market pricing solutions. This gives dealers access to real-time data and tools in a single system to stock smarter, increase turn, compete effectively, and above all else â maximize profits. For additional information, please visit www.VINCUE.com. Contact Details Angela Rizzo +1 913-200-3301 angelarizzo@dealercue.com Company Website https://vincue.com/

August 15, 2023 08:00 AM Eastern Daylight Time

Image

TNR Gold Corp highlights "very impressive" intercept from McEwen Los Azules Copper

TNR Gold Corp

TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) Executive Chairman Kirill Klip speaks to Thomas Warner from Proactive London to speak about the latest results from the 2022/23 drill campaign at the Los Azules Copper Gold Project. Klip says that the campaign is yielding exceptional results, including what he calls a "very significant intercept" of 386 m of 0.66% Cu, including 196 m of 0.99% Cu. He highlights the project's backing from major players like Rio Tinto and European automaker Stellantis, which invested over $150 million. He also highlights the focus by Rob McEwen and his team at McEwen Copper on making the Project as green as possible in its design, which includes measures to reduce water usage, to reduce electricity consumption by 70%, and to cut emissions by half compared to previous PEA estimates made in 2017. Klip also touched on potential TNR Gold Los Azules Copper royalty valuation, mentioning that future drill holes demonstrating substantial copper values would further enhance royalty potential. He also reiterates TNR Gold's commitment to maximising shareholder value, as underscored by a share buyback program and a shareholder rights plan. Contact Details Proactive Investors USA +1 347-449-0879 na-editorial@proactiveinvestors.com

August 15, 2023 08:00 AM Eastern Daylight Time

Video

EV charging infrastructure stocks still "lingering at low valuations" - Solactive AG

HANetf Holdings Limited

Solactive AG Head of Research Konrad Sippel speaks to Thomas Warner from Proactive about two major developments from the world of electric vehicle (EV) charging infrastructure. He starts by highlighting Toyota's breakthrough announcement on solid-state batteries, projected for commercial use around 2027-2028. These batteries promise a game-changing 1,200km range worth of charge in just 10-minutes - a development that would bring EV charging close to the level of speed and convenience of traditional fossil fuel refilling. He goes on to say that the European Parliament has passed legislation this summer mandating EV fast charging along major highways. Sippel underlines the significance of this move in making EV charging akin to the convenience of petrol stations, allowing spontaneous long trips without extensive planning. By 2026, fast charging stations will be found at least every 60 km. He expresses hope that the two recent developments will help further convince the market of the permanence of the EV revolution, noting that EV charging infrastructure stocks are "still lingering at low valuations." Sippel also addresses synthetic gasoline's potential role, but he views it as a luxury option due to high production costs compared to electricity. He goes on to predict the market will continue to see increasing EV registrations, with the transition from early adopters to mainstream adoption potentially occurring when EVs reach 50% of the market. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

August 15, 2023 06:22 AM Eastern Daylight Time

Video

1 ... 32 33 34 35 36 ... 122