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Elevate Brands Raises $55 Million in Equity Funding From Leading Institutional Investors to Fuel Global Acquisition of Amazon Marketplace Sellers

Elevate Brands

Elevate Brands, a leader in acquiring and operating Amazon third party businesses, announced today that it has secured an additional $55M in equity funding led by Soroban Capital, with support from Upper90 and funds managed by Oaktree Capital Management, L.P. (“Oaktree”). This comes on the heels of their recent Series B $250 million debt and equity round in July 2021 led by Upper90. Elevate plans to use this latest funding to accelerate its M&A strategy, expand its sales channels globally, and invest in its technology platform. The company currently boasts a robust portfolio of 30 Amazon Marketplace brands with a revenue run rate greater than $100M. Recent acquisitions include Will’s Wine, Essential Values and Active Chews, which are leaders in the Home & Kitchen or Pet Supply categories. “We are operators first and foremost and will continue to build our global team of world class brand builders,” said Ryan Gnesin, CEO of Elevate Brands. “This latest round of funding confirms our investors' confidence in our operating team, quality of existing brand portfolio, and deep pipeline of M&A targets.” Elevate recently opened its second headquarters in Austin and has grown its global team of marketers and operators more than 600% since January 2021 and continues to expand. About Elevate Brands: Founded in 2016, Elevate Brands specializes in acquiring, launching and operating leading consumer brands in Amazon’s Third Party Seller Marketplace, a $300 billion platform that is expected to double over the next five years. A broad network of resources paired with a global team of industry leaders headquartered in NYC and Austin provides Elevate with the unique ability to scale brands quickly. The company structures its underwriting process to prioritize a seller’s needs and execute a trustworthy exit within 30 days. About Soroban Capital: Founded in 2010, Soroban Capital is a $10 billion investment firm led by Eric Mandelblatt which is focused on public and private companies in the Technology, “Old Economy”, Consumer, and Payments & Information Services industries. About Upper90: Founded in 2018, Upper90 is a hybrid investment firm that provides founder-friendly credit and equity to top disruptors in e-commerce and fintech. The firm is backed by 300 leading entrepreneurs and has originated over $1.5Bn of growth capital to market-leading businesses that secured their initial credit facilities and equity investments from Upper90, including Thrasio, ClearCo, Crusoe Energy, Clutch, and Octane Lending. About Oaktree: Oaktree is a leader among global investment managers specializing in alternative investments, with $158 billion in assets under management as of September 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/. Contact Details Elevate Brands Rachel Hartz +1 708-825-6677 rachel@elevatebrands.com Company Website https://www.elevatebrands.com/

November 08, 2021 02:02 PM Eastern Standard Time

Osmo’s STEM Week Sale & Amazon Deal of the Day (11/8) Encourage Kids to Explore Reading, Math, Coding, Problem-Solving and Much More

Osmo

Osmo announces a STEM Week sale that encourages kids ages 3 to 10+ to explore reading, writing, math, coding, drawing, creative problem-solving, and more. From 11/7 through 11/13, save up to 40% off select kits, games and bundles at PlayOsmo.com, Amazon, Target, Best Buy & other retailers. Osmo’s Amazon Deal of the Day runs on Nov. 8--one day only--and features 20% off select items at Amazon.com. Kits and games up to 25% off through 11/13 at PlayOsmo.com and multiple retailers include: Little Genius Starter Kit (base included) Genius Starter Kit (base included) Coding Starter Kit (base included) Creative Starter Kit (base included) Pizza Co. (base required) Detective Agency (base required) Super Studio Disney Mickey Mouse & Friends (base required) Super Studio Disney Princess (base required) Super Studio Disney Frozen 2 (base required) Math Wizard and the Secrets of the Dragons (base required) Math Wizard and the Magical Workshop (base required) Kits and bundles up to 40% off through 11/13 exclusively at PlayOsmo.com include: Pre-School Starter Kit Explorer Starter Kit Ultimate Expansion Bundle Essential Math Bundle Osmo’s Amazon Deal of the Day (11/8) features 20% off these items at Amazon.com: Genius Starter Kit for iPad + Case for iPad (base included) Genius Starter Kit for iPad + Grab & Go Small Storage Carry Case (base included) Coding Starter Kit for iPad + Case for iPad (base included) Coding Starter Kit for iPad + Grab & Go Small Storage Carry Case (base included) Creative Starter Kit for iPad + Case for iPad (base included) Creative Starter Kit for iPad + Grab & Go Small Storage Carry Case (base included) The full list of deals at PlayOsmo.com can be viewed here. The full list of Amazon deals can be viewed at Osmo’s Amazon store. The full list of Osmo deals at Target can be viewed here. About Osmo Osmo is an award-winning STEAM brand whose products are used in over 50,000 classrooms and 2.5 million homes. It is building a universe of hands-on play experiences that nourish the minds of children by unleashing the power of imagination. The company brings physical tools into the digital world through augmented reality and its proprietary reflective artificial intelligence. Osmo is headquartered in Palo Alto, California, and is part of BYJU’S, a global leader in online learning. Learn more at PlayOsmo.com. For information about its educational division, Osmo for Schools, visit schools.playosmo.com. Contact Details Carolyn Kamii PR Carolyn Kamii +1 310-251-0550 carolynkpr@gmail.com Company Website http://www.playosmo.com

November 07, 2021 06:00 AM Pacific Daylight Time

Ethos Announces ‘100 Most Sustainable Luxury Items Of 2021’

Ethos

Digital media and e-commerce platform, Ethos, has launched its first comprehensive sustainability ranking: The 100 Most Sustainable Luxury Items of 2021. It kicks-off the platform’s sustainable luxury ranking series. Vetted by Ethos co-founder and creative director, Jackie Lutze, a Harvard University Sustainability MA candidate, the list evaluated individual products instead of brands as a whole—this allowed for a wider range of inclusion. Ranking included ingredients and materials, packaging and shipping practices, labor conditions, and circular sustainability efforts. All brands had to meet at least two stars in order to be considered for inclusion. “This list came to fruition much in the same way Ethos did; we knew there were luxury brands building sustainability into their core,” Lutze says. “We started with a clear-cut list of exemplary attributes and built a rating system around it. At the minimum, all products had to be ethically made with sustainable materials or ingredients.” It’s also the first comprehensive sustainable ranking list of its kind to only feature items made without any animal products or animal testing. “From there, we looked deeper into the brands themselves, rewarding points for those that went above and beyond, such as receiving B Corp Status, using certified organic materials or ingredients, Fair Trade Certification, or LEED-certified production facilities,” says Lutze. Brands earning the highest scores include Stella McCartney, Gucci, Chloé in fashion; Aether Diamonds Tiffany and Co., and Chopard in jewelry; Susanne Kaufman, Aesop, and Sana Jardin in beauty. To see the full list and rankings, click here. “It may sound strange to call the luxury market underserved, but when it comes to sustainability, that’s often the case,” says Jill Ettinger, Ethos co-founder and editorial director. “The luxury market is valued at more than $5 trillion; that is immense purchasing power and influence. These brands need to shine a greater spotlight on their sustainability efforts. And according to our research, the luxury consumer wants to make the best choices for the planet. To them, sustainability is luxury.” To celebrate the launch, Ethos is donating 100 trees to its nonprofit partner, The Fruit Tree Planting Foundation. The trees will be planted in Mococa, Brazil, in 2022. “When Ethos approached us about collaborating on one of our groundbreaking fruit tree plantings, we were thrilled to suggest an upcoming initiative to plant 100 life-sustaining trees for low-income families in Brazil later this year,” said Cem Akin, FTPF’s TreeEO. “Through this generous support, generations of families will have cleaner air to breathe and a healthy source of nutrition right in their backyards. We are so grateful to partner with Ethos in supporting sustainable, earth-friendly projects,” Akin said. About Ethos: Launched in 2021 by Jackie Lutze and Jill Ettinger, Ethos is the premier digital platform for personal and planetary sustainability filtered through a luxury lens. Through thought-provoking conversations and recommendations across fashion, beauty, travel, food, nutrition, and more, along with its e-commerce platform and its first sustainability rankings, The Ethos 100, Ethos is helping to bridge the gaps in the sustainable luxury market. the-ethos.co. Contact Details Ethos Jill Ettinger +1 213-986-7464 jill@the-ethos.co Company Website https://the-ethos.co

November 05, 2021 07:03 AM Eastern Daylight Time

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ADDISON RAE DEBUTS FIRST FRAGRANCE: AF COLLECTION BY ADDISON RAE

Addison Rae Fragrance

Today, Addison Rae announced her first trio of fragrances, AF COLLECTION BY ADDISON RAE. All three scents were designed to make her growing community not only smell good, but feel good. The trio of playful, multi-functional scents are aligned with supporting both inner and outer beauty: all are clean, water-based, and backed by science. CHILL AF, HAPPY AF, and HYPED AF, will be available exclusively on addisonraefragrance.com and shoppable through TikTok and Instagram for $40 (30ml each). “Scent is so personal and can have such a powerful impact on our mood that I wanted to create a new way to experience scent; one that’s more thoughtful, supports your emotional wellbeing, and feels good on your skin. It’s what you deserve” – Addison Rae CLEAN AND KIND. The clean, green-chemistry, water-based formulas are a game-changer in the industry that results in a multi-functional fragrance collection. The clinically proven formulas – comprised of sustainably sourced ingredients, provide many wearable benefits from mood enhancement to hydration and assurance that all are alcohol-free and cruelty-free. MOOD ENHANCING. CHILL AF, HAPPY AF, and HYPED AF are created with ingredients that are proven to boost overall mood. Smell triggers an emotional response and the place in our brain that registers scent also processes feelings, moods, and emotions, making the connection between scent and feelings very powerful. Each fragrance in the AF collection contains a unique blend of clinically tested ingredients that have emotive responses, proving their mood-boosting properties. WATER BASED. This unique alcohol-free formula delivers a surprisingly hydrating mist that delivers long-lasting scent on skin. The formula also ensures it goes on super smooth and leaves skin glowing. An added benefit, given the hydration properties, it can even be used to scent your hair! FIRST-TO-MARKET PACKAGE INNOVATION. The ergonomic bottles utilize heat-sensitive technology, changing color when reacting to temperature giving an all-around, multi-sensory experience. “We are thrilled that our partnership with Addison resulted in a trio of scents that push the boundaries of what’s possible while capturing her joyous exuberance and focus on clean beauty. The first-to-market combination of innovation and playfulness within the formula and packaging perfectly captures Addison’s positive energy,” says Lori Mariano, Managing Partner at Hampton Beauty. “Our shared vision to develop a collection that speaks to a generation of consumers that want the products they purchase to look good and make you feel even better was a focus and having the collection available to shop on TikTok was always a top priority given Addison’s engaged community.” HAPPY AF A DAILY DOSE OF EUPHORIA For times when you need a little pick-me-up, HAPPY AF is the scent for all-day positive vibes. Perfect for any plans—this floral and fruity blend of pink lychee, red grapefruit, and dewy peony hits different when paired with a smile. NOTES: Pink lychee, red grapefruit, peony, violet leaves, agave nectar, rose & crystallized musk. OCCASIONS: Vacays & beach days, first dates, watching the sunset. BENEFITS: Joy-enhancing, long-lasting scent, boosts skin hydration, gentle for sensitive skin. CLEAN FORMULA: Alcohol-free, vegan, cruelty-free, paraben-free. HYPED AF A DAILY DOSE OF ENERGY Think bright, zesty citrus meets clean white woods; HYPED AF is the energy you want to radiate, bottled. Maybe you missed a few hours’ sleep? Or have a deadline approaching? This magic blend of blood orange, pineapple flower, and musk prepares you to take on whatever life throws at you. NOTES: Mandarin, blood orange, pomelo, nectarine blossom, white woods, & clean musk. OCCASIONS: Dance parties, game night, leg day. BENEFITS: Energy-enhancing, long-lasting scent, boosts skin hydration, gentle for sensitive skin. CLEAN FORMULA: Alcohol-free, vegan, cruelty-free, paraben-free. CHILL AF A DAILY DOSE OF CALM A moment of zen; CHILL AF is the scent to wear on a date but also to meet the parents. This dreamy blend of pear blossom, chamomile tea, and soothing sandalwood helps forget where the stress came in the first place. Cool, calm, collected. NOTES: Pear blossom, apple, red lemongrass, chamomile tea, lily of the valley, sandalwood & milky musk. OCCASIONS: Movie nights, long drives, digital detoxes. BENEFITS: Chill-enhancing, long-lasting scent, boosts skin hydration, gentle for sensitive skin. CLEAN FORMULA: Alcohol-free, vegan, cruelty free, paraben-free. About Addison Rae In just one year, Addison Rae has become one of the biggest stars in the world. Named the top-earning creator on TikTok by Forbes Magazine, Rae’s infectious personality, Louisiana charm, and overwhelming positivity have led her to be one of the most sought-after talent of her generation. Since November of 2019, she has amassed over 100 million followers across social media. Rae is currently the second most-followed individual on TikTok with over 5.5B likes and 85.2M followers. Her impressive reach goes beyond TikTok with over 40.1M followers on Instagram, 4.7M subscribers on YouTube and 4.8M followers on Twitter. In 2019 she became co-founder of the clean makeup company ITEM Beauty, was named a global ambassador for American Eagle, and launched a podcast for Spotify with her mom titled “That Was Fun.” In March 2021, Addison released her debut single “Obsessed”. Addison co-wrote the single, which was produced by a dream team of chart-topping producers, Benny Blanco, Blake Slatkin and Ryan McMahon. In August 2021, Rae made her film debut in Netflix’s HE’S ALL THAT. The film debuted at #1 in 78 countries and saw over 55 million households watch the film at least once in the first month on Netflix. About Hampton Beauty The Hampton Beauty team of highly experienced beauty industry experts bring a wealth of knowledge across all beauty categories, creative innovation, and business strategy. The company was founded to influence a new era of global beauty business development. Whether it’s fragrance, color cosmetics, or skin and body care, their strategic resources worldwide deliver the latest in product & package design and technology that breaks traditional barriers with high quality, bespoke products that engage consumers and inspire social conversation. Contact Details The Collective PR Debbie Burke-Smith debbie@thecollective-pr.com The Collective PR Jennine Hannaway Lavyne +1 917-447-1192 jennine@hannawaypr.com Company Website https://addisonraefragrance.com

November 04, 2021 12:15 PM Eastern Daylight Time

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Exchange Listing acts as Advisor to SurgePays, Inc. on its NASDAQ Capital Markets Listing

Exchange Listing

Exchange Listing LLC announced that its client, SurgePays Inc. (OTCQB: SURG), successfully completed its listing to the Nasdaq Capital Markets on November 2, 2021. SurgePays, Inc. is a blockchain fintech company that offers financial services and products for the underbanked population more cost efficiently than traditional distribution models. SurgePays utilizes its proprietary software to distribute its products, including prepaid wireless payments, reloadable debit cards, retail gift cards, subsidized broadband service and consumables to more than 8,000 convenience stores, mini-marts, and bodegas across the United States. Simultaneous with the Nasdaq listing, SurgePays priced an underwritten public offering of 4,600,000 units at a price to the public of $4.30 per unit with gross proceeds of approximately $19.8m. Each unit issued in the offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $4.73. The common stock and warrants are expected to begin trading on the Nasdaq Capital Market on November 2, 2021, under the symbols “SURG” and “SURGW,” respectively. SurgePays, Inc. expects to receive gross proceeds of 19.78 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Exchange Listing served as advisor to SurgePays on all aspects of the listing including, but not limited to, introduction of the professionals, filing the Nasdaq application and collaborating with legal counsel on the Nasdaq process, and assisting the Company with the corporate governance required for the Nasdaq listing. Maxim Group, LLC acted as the sole book-running manager for the offering. “We brought Exchange Listing on board early in the Nasdaq uplisting process. They provided extraordinary strategic counsel, including the road map which led us to finalize our offering and successfully execute our goal of completing a Nasdaq uplisting,” says Brian Cox, Chairman and CEO, SurgePays. “When we began working with SurgePays in 2019, we were impressed by the growing market potential servicing the underbanked population with new products and increased distribution channels,” says Peter Goldstein, Chief Executive Officer, Exchange Listing. “Our team has enormous respect for and confidence in the experience and strength of the Company’s management.” Goldstein continued. “We worked seamlessly with them and our partners at Maxim and Lucosky Brookman in bringing their listing to the Nasdaq Capital Markets.” Exchange Listing provides companies with cost-effective and efficient direct access to one-stop solutions in the strategic planning and implementation of listing and uplisting on senior exchanges such as the Nasdaq or NYSE. Focusing on company-specific structuring to meet listing requirements, Exchange Listing serves as the primary point of contact with the exchange, investment bankers and lawyers throughout the listing process. With extensive experience in investment banking, securities law, corporate governance and business management, Exchange Listing and its strategic partners facilitate clients' listing and capital markets objectives. About Exchange Listing Exchange Listing provides growth companies with direct access to a one-stop solution in the strategic planning and implementation of listing on a senior exchange such as NASDAQ or NYSE in a cost effective and efficient process. We assist clients in going public whether through an initial public offering, listing from another marketplace, merger or direct offering. We serve as the primary point of contact with the exchange, investment bankers, lawyers and other service providers. Our founders, strategic partners and advisors are entrepreneurs with backgrounds in investment banking, securities law, corporate governance and business management and have served as officers and directors of public and private companies. We pride ourselves in taking a hands-on role with our clients throughout the listing process. For more information, please visit: www.exchangelistingllc.com or contact info@exchangelistingllc.com. Contact Details WantLeverage Communications Julie Livingston +1 347-239-0249 julie@wantleverage.com Company Website https://exchangelistingllc.com/

November 04, 2021 09:22 AM Eastern Daylight Time

Centerboard Launches Updated Product Offerings via WIN, by Centerboard Technology Platform

Centerboard

Centerboard, the neutral, shipper-centric transportation management solution, is announcing a range of updated solutions to its core platform, WIN, by Centerboard. As the shipping industry navigates challenges presented by disruptions in the supply chain, Centerboard aims to ease shippers’ workload through new technologies that offer a seamless user experience. With these latest updates, shippers of all sizes receive access to modular and flexible solutions powered by real-time data, providing full control over and transparency of their supply chain. “Our business needs are continuously changing as we navigate through the pandemic, shipping delays and driver shortages,” said Nicolas Adam, Executive Vice President at Margarine Thibault. “With the various new features offered on WIN, by Centerboard we’ve been able to navigate all of these challenges while improving our processes, enabling our team to make better shipping decisions and ultimately save time and money.” New features now live in WIN, by Centerboard include: Advanced Shipment Notifications on all order tracking messages, helping to improve efficiency, accuracy and flexibility. Tracking Message on Behalf of Carriers helping to communicate shipping updates in real-time. Activity Tab Added on Order Screen to customize specific items related to an order, ultimately saving time. Added Custom Fields including date and timestamp, helping users to improve their billing process. Tender Response Reminders, including scheduled, automated messages reducing the need for shippers to manually contact carriers. Pallet Labels to auto-generate the paperwork that shippers had to manually create. Pro Sticker Image on BOL, adding greater clarity to the shipping experience by giving the client and carrier a convenient document for real-time tracking. “Centerboard’s best-in-class technology team is powered by 30 years of supply chain expertise and we understand what shippers need most. We’re focused on providing shippers with solutions that are backed with artificial intelligence and machine learning capabilities enabling more cost-effective, efficient and sustainable programs,” said Lindsey Shellman, Chief Commercial Officer at Centerboard. “It’s important that current and future technology features are nimble and flexible in order to support changing architectures. Centerboard gives shippers control by integrating with their existing and emerging technologies.” To learn more about Centerboard and the new solutions offered through WIN, by Centerboard, Visit www.centerboard.com. About Centerboard Centerboard is a neutral, shipper-centric transportation and supply chain management platform supplying shippers with access to a wide range of affordable features needed to take control of operations. Centerboard unlocks business opportunities for shippers, carriers and supply chain stakeholders, through leveraging real-time data. Centerboard is out to make the supply chain more sustainable and efficient to ensure less waste and significant carbon reduction with every trip. Contact Details Kite Hill PR for Centerboard Kite Hill PR centerboard@kitehillpr.com Company Website https://www.centerboard.com/

November 04, 2021 09:00 AM Eastern Daylight Time

FORTRESS BRAND, a Leading Global Marketplace Accelerator, and SCHOOL HOUSE, a Powerhouse Creative Agency, Announce Strategic Partnership

Fortress Brand and School House

Fortress Brand and School House are joining forces to create a global omni-channel accelerator that addresses all Consumer-Packaged Goods (CPG) brand and product lifecycle needs. This first-of-its-kind agency partnership allows both Fortress Brand, a leading global marketplace accelerator, together with School House, a leading creative agency known for dynamic storytelling, to provide its brand partners with a proven competitive edge that drives business value at scale, from creation and brand identity, to retail, marketing, and sales. Fortress Brand and School House will leverage their expanded infrastructure and combined capabilities to drive continued game-changing growth for their beauty, health, and wellness brand partners. Headquartered in New York, NY, Fortress Brand is a technology-enabled direct-to- consumer channel partner specializing in driving growth for its clients on Amazon® and other e-commerce marketplaces. The Company offers a fully outsourced, turnkey e-commerce solution for leading CPG brands, providing re-seller protection, product development, and advertising services while leveraging proprietary data analytics within the world’s largest marketplaces. Fortress Brand’s customized strategies enable its brand partners to navigate the rapidly evolving marketplace landscape. Today, the Company represents over 45 leading beauty, health, and wellness brands, including Glow Recipe, Youth to the People, and HUM Nutrition. “The accelerating number of beauty, health, and wellness brand launches, combined with rising global supply chain concerns and competition, underscores Fortress Brand’s primary focus on identifying forward-thinking solutions for its client needs,” noted Alex and Matt Beer, Fortress Brand’s Co-CEOs and Founders. “The collective Fortress Brand and School House vision is to redefine the concept of client relations and brand partnerships by thoroughly understanding our brand partners’ every need. Together, we can then drive growth through each stage of the brand lifecycle, equipping our brand partners with the right tools, teams, and support to meet those needs. The School House partnership represents an important milestone in our continued evolution into the leading global omni-channel accelerator for beauty, health, and wellness brands.” Based in New York, NY, School House was founded nearly seven years ago with a vision to provide cut-through creative services based on compelling storytelling for the world’s most in-demand beauty brands. Through engaging and thoughtful design in an array of specialties under the disciplines of strategy and creative development, creative production, architectural design, and industrial design, School House has collaborated with over 75 client partners ranging from independent brands such as Ami Cole and IDEO Skincare, to founder-led brands including Dr. Dennis Gross Skincare, J oanna Czech, Kosas, Pat McGrath Labs, and Tata Harper Skincare, to icons La Mer, Elemis and L'Occitane en Provence, to name a few. “At School House, our mission has always been to ensure a distinct point of difference in every beauty brand we touch – from voice and tone, visual identity, and creative strategy, to campaign content and environmental design. This is our mainstay. The creative outcome is always unique,” commented Christopher Skinner, Founder and Principal of School House. “We are thrilled to now expand this philosophy by offering our clients a trusted partner in Fortress Brand that can continue the brand’s lifecycle through a powerful presence on the world’s most rapidly growing marketplaces and channels.” The Company is excited to announce that its next phase of strategic partnership will be the School House Studios, an immersive physical creative content studio, which is set to open in New York City in Spring 2022. Fortress Brand and School House welcome inquiries from beauty, health, and wellness brands looking to accelerate their brand equity and growth across all channels. About Fortress Brand Established in 2012 and based in the heart of SoHo in NYC, Fortress Brand represents acclaimed beauty, health, and wellness brands on the Amazon® marketplace. With nearly a decade in business and 45 exclusive partnerships with names like Glow Recipe, Youth to the People and HUM Nutrition, our core strengths are channel control, protecting brand integrity, and driving growth on Amazon®. Recognized as one of Inc.’s 5,000 Fastest-Growing Companies and trusted by Amazon® as a verified partner, we are fully invested in our clients’ success from day one and stay on top of today’s rapidly changing market by investing deeply into technology, data and international capabilities. https://fortressbrand.com About School House School House is a creative agency, founded by former LVMH Executive Christopher Skinner, specializing in cut-through strategy, engaging creative and immersive environments for the world's most in-demand beauty brands. School House is built to mirror that of an in-house creative studio with dedicated talent across key creative disciplines needed in today's beauty market: brand and commercial strategy, branding and visual design, creative production, digital and social design, industrial design, visual merchandising, and architectural design. Select clients include Dr. Dennis Gross Skincare, Kevyn Aucoin Beauty, Perfect Diary, La Mer, Malin + Goetz, Tata Harper Skincare, L'Occitane en Provence, Joanna Czech, Elemis, Volition Beauty and MyGlamm. https://weareschoolhouse.com Contact Details School House: The Collective PR Debbie Burke-Smith +1 917-224-1415 debbie@thecollective-pr.com School House: The Collective PR Jennine Hannaway Lavyne +1 917-447-1192 jennine@hannawaypr.com Fortress Brand Gabby Barikian gabrielle.barikian@fortressbrand.com

November 03, 2021 10:45 AM Eastern Daylight Time

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Nofar Energy expands the collaboration with Tesla

Nofar Energy Ltd.

Nofar Energy expands further its collaboration with Tesla: the company reported today it had entered a second framework agreement with Tesla on purchasing battery stored power systems with a total capacity of 200 megawatts for $54 million. Under the agreement, Nofar will pay 5% of the consideration on the contract signing date and the balance according to predefined milestones. The storage systems will be supplied from January 2023 through March 2024. This second agreement entered by Nofar and Tesla brings the total capacity of the storage systems to be built as part of the collaboration to 300 MW/h. Most of the storage systems covered by the first agreement entered in February 2021 for 100 MW/h are under or nearing construction. Given the fast implementation pace of the first agreement and the considerable demand, Nofar Energy decided to expand the collaboration with an additional contract for a larger capacity. Nofar estimates its EPC (Engineering, Procurement, and Construction) revenues from the second agreement will total ~ NIS 250 million. The annual revenues from power sales (arbitrage and grid services) are expected to total NIS 20-50 million. Moreover, the construction of the storage systems will enable building additional solar systems at high rates in areas characterized by overloaded grids, which could not be achieved in the absence of the storage systems. Nofar Energy plans to develop and manage the storage systems for existing and new partnerships the company and its partners own, including kibbutzim, real estate, commercial, and industrial companies. Several weeks ago, Nofar completed the construction and connection of Tesla’s first storage facility in Israel, in Kibbutz Shoval. Next week, the facility will be inaugurated at a ceremony attended by Tesla executives and representatives of Israel’s energy ministry and Electric Authority. Offering a capacity of 2.718 MW/h, the new facility allows overcoming the constraints placed by the local power grid through connecting additional photo-voltaic systems with significant capacity at a high rate of NIS 0.45 per each Kw/h produced. Moreover, the storage system offers additional economic value due to the planned raising of electricity prices. An independent management system developed by Nofar Energy ensures the facility runs according to the needs and chosen strategy. The project was co-built by Nofar Energy’s partnership with Kibbutz Shoval. Nofar concurrently advances the construction and connection of dozens of other power storage systems on lands owned by Kibbutzim and real estate companies already over the coming year as part of the existing or new partnership. In addition, the signing of the second framework agreement with Tesla allows Nofar to proceed with its action plan while promoting additional procurement agreements with other manufacturers. Nofar CEO Nadav Tenne commented, “I welcome the expanded collaboration with Tesla and thank its representatives for the professional and effective interface. Having projected the upcoming shortage of the power grid in extended areas over a year ago, we prepared accordingly with professional capabilities and control systems, pilots, and strategic collaboration agreements with equipment makers and suppliers. As a result, we can leverage the partnerships we put in place to build and connect tens of storage facilities with significant capacity over the next 12 months. These facilities will generate revenues from power sales, enabling the construction and connection of tens of additional solar systems at high rates independently of the grid’s resources. We plan to initiate similar storage facilities through the growth platforms we own in Europe and the USA. We are proud to be the leaders of Israel’s power storage revolution.” Contact Details Nofar Energy Dikla Ivry Pardnoy +972 52-380-4085 dikla@ivripr.com Company Website https://www.nofar-energy.com/

November 03, 2021 09:53 AM Eastern Daylight Time

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British fintech Nimbla attracts £5.1m investment as embedded insurance takes off

Stockwood Strategy

Fintech business insurance startup Nimbla has today announced a £5.1m funding round led by Silicon Valley venture fund Fin VC with participation from Barclays Bank. The funding comes as Nimbla seeks to scale its operations with increased demand from embedded credit risk solutions through its API with banks and alternative lending platforms. Founded in 2016, the Nimbla platform has given businesses the confidence to trade with a peace of mind using invoice insurance with quotes provided within seconds. Their proprietary digital automated credit risk platform is able to process requests immediately and provide real time quotes. Nimbla has processed over 67m invoices worth £2.5b. During the pandemic, volumes of invoices tripled as economic uncertainty and supply chain concerns increased and Nimbla continued writing new business. Flemming Bengtsen, CEO at Nimbla commented: “We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base. 2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on. This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond”. Nimbla has worked directly with businesses and brokers to provide invoice insurance cover and more recently has launched a new API for Banks, fintech lenders and B2B platforms to enable more business to access the service. Nimbla partnered with Barclays Bank in 2020 to give their one million small business customers the ability to take out insurance against individual invoices, rather than the whole book. “We have built a powerful and robust credit risk model, automated large parts of the process and have now launched a new API to enable others to embed seamless credit risk solutions into their platforms” added Flemming Bengtsen. On investing in funding round Henry Cashin, Head of EMEA at Fin VC, commented: “Nimbla is giving businesses the confidence to trade again. They have a proven credit risk model and its tech is being adopted by top tier banks and a host of lending platforms. We believe this will scale their reach and help more businesses benefit long term”. Looking ahead, Flemming Bengtsen commented: “UK companies have added £1.9tn debt in 2020 to their balance sheets, taking the total amount outstanding to over £6.6tn. This number was inflated by the various government loan schemes. Over half of them are carrying ‘toxic debts’ which carries enormous risk for their trade creditors, there is a huge opportunity and responsibility for Nimbla to give companies a peace of mind and insure their invoices against insolvencies”. About Nimbla Nimbla makes sure businesses get paid for their hard work, even if a customer becomes insolvent. Founded in 2016, the company is on a mission to give SMEs the confidence to trade with a peace of mind using invoice insurance. Nimbla’s digital insurance platform backed by expert risk analysts, allows businesses to check a buyer’s ability to pay and insure individual invoices against non-payment in a fast and affordable way. This will enable business owners to safeguard against insolvent customers, expand into new and existing markets and secure better borrowing terms. The platform can be accessed directly (www.nimbla.com) and through partnerships with Barclays and insurance brokers. Based in London, Nimbla aims to bring the trade credit industry into the 21st century. Challenging traditional insurance models, the cover is flexible and adapts to fit your business — whether it’s a one-off invoice or multiple transactions. Contact Details Nimbla Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.nimbla.com/

November 03, 2021 08:00 AM Eastern Daylight Time

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