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QX Global Group appoints Rina Mancini as Managing Director, QX Franchise Limited

QX Global Group

QX Global Group, a global leader in knowledge process outsourcing services with a significant and growing presence in North America, today announced the appointment of Ms. Rina Mancini as Managing Director of QX Franchise Limited, a subsidiary that owns the Master Franchise rights for TaxAssist Accountants in Canada. Rina will be instrumental in propelling QX’s inorganic growth strategies, which include expanding the geographic reach as well as extending the organization's accounting footprint and experience into new verticals. With a proven track record of over 25 years, Rina has experience within the Financial Services, Franchising, and Information Solutions industries. She has accomplished knowledge in the leadership of Operations teams, creation of New Functional Units and Departments, Consumer Credit Risk Management, Accounts Receivable Management, Call Centre Management, and Customer Service. Commenting on the appointment, Mr. Frank Robinson, Group CEO, QX Global Group, said, “Geographic expansion is a cornerstone of our growth strategy, with North America as the top priority. Rina's appointment will accelerate our inorganic growth plans as well as help extend our accounting industry experience into new verticals.” Rina will be working closely with Niraj Mehta, SVP-Operations, Johnny Rogers, VP-Franchise Development, Frank Robinson, CEO QX Global Group, and the wider TaxAssist Accountants team within QX and the TaxAssist Accountants UK head office, to recruit, train and support new franchisees across Canada. Speaking on her appointment, Ms. Rina Mancini, MD, QX Franchise Limited, said, “I am thrilled and excited to be able to continue the growth story of the award-winning TaxAssist franchise into the Canadian market. Besides providing much-need tax, accounting, and advisory services to the small business market, I believe TaxAssist Accountants will also offer significant benefits and opportunities both, to entrepreneurially oriented individuals wanting to start their own businesses, as well as to the clients they will ultimately serve.” QX has carved out a formidable niche in providing exceptional services in Finance and Accounting, Recruitment Consulting, and Accounting Services. Organizations across fifteen industries vouch for QX’s services in key business areas such as accounts outsourcing, F&A outsourcing, back-office recruitment services, IT & business transformation advisory. The QX family of more than 2,000 professionals based out of the four delivery centres in India continues to unlock business value by improving process efficiencies and automation. About QX Global Group QX Global Group is a leading provider of business process management services. With over 17 years of accounting and recruitment process outsourcing experience, we help our clients unlock business value by improving process efficiencies and automation in the accounting and recruitment function to enable business transformation. We are based out of the UK with offices in the USA, Canada, Australia and India. Contact Details QX Global Group Vishal Kurani +1 646-693-9693 vishal.kurani@qxglobalgroup.com Company Website https://qxglobalgroup.com/

December 20, 2021 08:55 AM Eastern Standard Time

NODE EXPANDS INTO SPAIN WITH STARCITY SPAIN ACQUISITION

Node Living

Global build-to-rent and coliving asset manager Node has acquired Starcity Spain S.L. to expand its high density urban living platform into Iberia. The Spanish platform will start with the repositioning and restoration of nine city centre residences in Barcelona and the development of purpose-built communities near key transport hubs in major Spanish cities. All communities will be operated under the Node brand. Node is pioneering the concept of curated living, a next generation, high density urban rental community that offers furnished studios, one bedroom and shared living accommodation for an all inclusive price with utilities and wifi included. Amenities include a variety of residents' lounges, wellness centres and coworking spaces to cater for the increasing trend of working from home. Members can join a unique global community with Node locations across North America and Europe and participate in curated events. “We are excited about our expansion into Spain, our fifth country of operations in five years since we started. The Spanish market has huge demand for an affordable and flexible rental offer that meets the needs of young urban professionals. This Spanish venture is proof of the success and global scalability of our business model in a post-COVID environment” said Anil Khera, Founder & CEO of Node. “We are delighted to partner with Node In what we see as a global consolidation of the coliving and urban living sector. The Node platform uniquely positions us for the next phase of growth in Spain, combining our Barcelona based team and portfolio with Node's global expertise, which will make us the largest and most experienced coliving company in Spain and a European market leader,” said Esteve Almirall, Partner and Head of Iberia at Node and co-founder of Starcity Spain. Node is uniquely positioned in the market as a 100% founder owned company, which unlike venture backed platforms, has allowed it to focus on building a long term, sustainable business. Node partners with local developers and invests alongside them and institutional investors to develop a new generation of urban rental assets. Node is planning large-scale expansion in the UK, Ireland, Spain, Canada and the US off the back of its recent success in cities including New York, Los Angeles, London and Dublin and has a current pipeline of 8,000 beds totalling over $1.5 billion in asset value. Node’s coliving model has stood strong over COVID “Cities are thriving again, 20-30 somethings were the first to return back to city living. Urban environments foster social interaction, creativity, and personal and professional growth by bringing people together. In all of our cities we are back to pre-COVID rents and occupancies”, said Anil Khera. Many co-living concepts have failed during the pandemic, primarily due to their tiny rooms and dorm-like feeling. The Node model of curated living is different - an offering that combines inspiring interior design and a diverse community of global members similar to Soho House, but within the context of urban living. Node's branded approach to urban living and its business model has proven highly successful during COVID. Node offers larger sized units, with creatively interior designed spaces and amenities such as SMEG retro fridges, Nest eco-thermostats and an app that connects all residents. There are communal areas for residents to socialise in, but the units are also large enough to allow for self-isolation or simply privacy. Living in a Node building has been a blessing to some residents who have been able to reside in their own apartment spaces but not feel lonely due to the communal living spaces. Node provides residents with a vibrant daytime community in which to work from home; a central, walkable neighbourhood; a "plug and play" interior designed apartment with excellent Wi-Fi; and a safe, sanitary, and professionally managed environment. "Our concept of curated living, where we give people the benefits of community living but still with the ability to have the privacy of their own home, has been the perfect mix in a pandemic. Residents are still not isolated as they are part of a building where people know and look out for each other. Roommates who do share a unit have created their safe bubble. Those who have individual units have private areas but feel secure yet not isolated. We have found a good balance of where dense urban living needs to be for the future." Live. Connect. Thrive. Why Node stands out. Node currently has communities in North America and Europe and has been home to hundreds of residents to date. Crafted for urban professionals, with world renowned design firm DesignAgency, Node’s move-in ready apartments offer sleek in-unit and shared amenities, from gorgeous, hi-spec kitchens to communal coworking spaces. Hassle-free Node living includes utilities and units are uniquely interior designed. Residents can look forward to amenities including: Locally curated artwork, cleaning services, kitchen, bed and bath packs are also available for residents who want to move in with a suitcase to an “Instagram ready” Node apartment Founder Bio. Anil Khera founded Node in 2016, and is the company’s founder and CEO. Anil has worked in real estate for nearly 20 years in the US, Europe and Asia, and was formerly a Managing Director at Blackstone, the world's largest real estate investment firm. Prior to that he worked at Credit Suisse / DLJ in Los Angeles. For more information, please visit: www.node-living.com Instagram: node.living Facebook: @nodelivingglobal LinkedIn: node. About Node Node is a global asset management company that invests, develops and manages high density urban rental communities in creative capital cities around the world. Our mission is to create the next generation of urban living with affordable, design-led and community focused residences that meet the growing needs of urban renters. Node residences are in cities throughout North America and Europe. Contact Details Node Living Nia Thomas +44 7723 019767 Nia@niapr.com Company Website https://node-living.com/

December 14, 2021 08:00 AM Eastern Standard Time

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PCMA Private Client is Presenting 27th Annual ABS East Conference

PCMA

PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, will be presenting at the 27 th Annual ABS East Conference; Tuesday Dec. 14 th at 9am PT/12:00pm ET. CEO and Founder of PCMA, John R. Lynch, will be speaking on the “Trends in NonQM MBS” panel addressing the growing Private Client lending market; the importance of differentiation in the NonQM space; and other key trends impacting the market.. “The NonQM marketplace is exploding but with this rapid growth has come confusion and questions; by both consumers as well as industry players,” said John Lynch, CEO and Founder of PCMA. “I look forward to talking with the other distinguished panelists about the trends happening in the NonQM space, as well as give expert insight into bespoke lending options for high and ultra-high net-worth clients; a category that is largely ignored by the industry.” John R. Lynch will contribute to the discussion on “ Trends in NonQM MBS ” panel alongside fellow industry expert panelists: Steven Schwalb, Partner at Angel Oak; Rudy Orman, Director of Correspondent Sales and Product Development at Reliant Bank; Robert Durden, Managing Director at Credit Suisse; Sharif Mahdavian, Managing Director, RMBS at KBRA; along with panel host Sadie Gurley, General Manager/Head of Capital Markets at Maxwell. “The experience of our management team and our commitment to Non-Agency Credit expansion has afforded PCMA to grow its credit facilities and expand lending guidelines, gaining market share month over month in the highly coveted Private Client community.” said Lynch. “PCMA will continue to lead the way in innovative credit strategies for high capacity estates; giving Private Clients optionality and flexibility they require, and deserve.” PCMA is the leading Non-Bank Private Client lending organization serving the needs of their mass affluent and high net worth clientele. PCMA offers qualified individuals and institutions bespoke lending solutions across all major residential asset classes. PCMA is a diversified financial enterprise offering private client solutions through a direct to consumer and distributed retail business model. PCMA strives to build trusting and enduring relationships by putting clients and professional partners at the center of all they do. PCMA is headquartered in Orange County, CA. Additional information is available at www.pcma.us.com Contact Details Jason Jepson +1 949-394-7033 jason.jepson@pcma.us.com Company Website https://pcma.mortgage/

December 13, 2021 12:00 PM Eastern Standard Time

a360inc Chooses Provana to Bring Expanded e-Filing and Enhanced Data Analytics Solutions to Mortgage Default Servicing Industry

Provana

Provana, provider of the industry's first unified platform for compliance and performance management, today announced a new partnership with a360inc, to enhance and expand technology-enabled solutions to default servicing law firms. Building on both companies' extensive expertise in the legal and financial services industries, a360inc clients will benefit from expanded e-filing capabilities and advanced data analytics tools. Scott Brinkley, Chief Executive Officer of a360inc, noted, “We’re excited to partner with Provana to offer our technology clients enhanced e-filing and BI reporting capabilities. With Provana’s nationwide e-filing solutions now accessible through all a360inc applications, our clients will have seamless access to services that better position their businesses to navigate the unpredictability of the current mortgage servicing market.” “The partnership comes at a critical time for foreclosure firms, when scale and flexibility are primary concerns, given the rapidly changing economic and regulatory landscape,” said Provana Chief Executive Officer Sandeep Bhargava. “Formalizing this relationship between a360inc and Provana builds on our promise to work with SMBs to help them overcome process-intensive challenges for higher productivity and profit.” “After working with both Provana and a360inc for many years, I’m excited to see the two companies join forces,” said Jim Ward, Chief Executive Officer of ProVest. “Together, Provana and a360inc deliver a powerful combination of technology and services that can help mortgage default servicing law firms focus on their core competencies and maximize productivity and profitability.” For up-to-date information about specific implementations, contact us. Clients can also learn more about the benefits of these unique technology solutions, schedule custom demos and meet representatives from both companies during the MBA Servicing Conference in February. About Provana Provana’s SaaS-based digital operating platform is the first of its kind, giving leaders control over process-intensive operations. We serve law firms, insurance companies, accounts receivable agencies and networked enterprises in the US market that are tightly regulated by the CFPB and other authorities. Built on decades of experience in machine learning, natural language processing and business process management, Provana helps customers manage sensitive interactions, analyze unstructured data, process personal information and ensure compliance. Provana is backed by a NYC-based Fintech PE, most recently raising funds in November 2020. Learn more at www.provana.com. About a360inc a360inc is a leading technology and outsourcing services provider to the financial services, real estate, and legal industries. Based in Addison, TX, a360inc provides case management system technology and outsourcing services to law firms, title agencies, underwriters, mortgage companies and investors. Learn more about a360inc and its suite of products and services online at www.a360inc.com. About Provana Provana is a SaaS platform that gives leaders control over process-intensive operations. We serve law firms, insurance companies, accounts receivable agencies and networked enterprises in the US market that are tightly regulated by the CFPB and other authorities. Provana is built on decades of experience in machine learning and natural language processing and helps customers manage sensitive interactions, analyze unstructured data, process personal information and ensure compliance. Provana is backed by a NYC-based Fintech PE, most recently raising funds in November 2020. Learn more at www.provana.com. Contact Details Provana Britney Schaeffer +1 469-774-2409 britney.schaeffer@provana.com a360inc Amber Benson +1 469-640-0432 amber.benson@sqft.management Company Website https://www.provana.com/

December 08, 2021 11:54 AM Central Standard Time

The Spring District’s Block 13 Pre-Leased by Meta

Wright Runstad

Wright Runstad & Company (“Wright Runstad”) and Shorenstein Properties (“Shorenstein") today announced they have pre-leased their planned 213,000 square foot Block 13 project in the Spring District to Meta. It is the fifth building in the Spring District to be leased by Meta, bringing its total leased area in the neighborhood to over 1.4 million square feet. The Block 13 project will be located between Block 20, the former REI headquarters which was purchased by Meta in 2020, and the University of Washington’s Global Innovation Exchange. The Block 13 project was designed by NBBJ and will be constructed by BN Builders as the general contractor. Construction will commence in 2022 and completion is expected in 2024. “The successful pre-lease of the Block 13 project further exemplifies the considerable demand for commercial space in the thriving Spring District,” said Greg Johnson, CEO of Wright Runstad. “We look forward to providing our tenants with the unique and industry-leading amenities they have come to expect from us.” The transit-oriented and sustainable Spring District is Bellevue’s most exciting new neighborhood. In addition to Meta’s significant presence, it is also home to the Global Innovation Exchange, which opened in 2017. It also features over 800 residential units and Bellevue Brewing Company’s new location which is scheduled to open in 2022. More information about The Spring District can be found at www.thespringdistrict.com. About Wright Runstad & Company: Seattle-based Wright Runstad & Company develops, acquires, manages and leases high-quality commercial office and mixed-use buildings located primarily in the Pacific Northwest. The company is in its fifth decade as one of the region's premier real estate development and operating companies, delivering outstanding property performance and superior investment returns. Wright Runstad & Company maintains an exceptional reputation among tenants and institutional investors for its demonstrated commitment to integrity and high levels of quality and service. For additional information visit: www.wrightrunstad.com About Shorenstein Properties: Founded in 1960, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein has sponsored twelve closed-end investment funds with total equity commitments of $8.8 billion, of which Shorenstein committed $723.5 million. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://thespringdistrict.com/

December 06, 2021 12:00 PM Pacific Standard Time

Kitchen Magic Announces 2022 Kitchen Design Forecast

Kitchen Magic

Kitchen Magic, a family-owned and operated kitchen remodeling company with over 41 years of experience under its toolbelt, announced today its forecast for what the top trends in kitchen design will be in 2022, keeping homeowners informed on how to stay on the cutting edge of remodeling in the new year. According to the Joint Center for Housing Studies at Harvard University, elevated spending on residential remodeling projects will continue well into 2022. After a time of unprecedented change that spurred an exponential increase in the time homeowners spent at their homes and in their kitchens, kitchen design as we knew it, changed forever. Homeowners are still looking to further improve their kitchens, inspired by a renewed appreciation for the most used room in the home. With the new year presenting a much-needed fresh start for many, Kitchen Magic is committed to keeping clients on the forefront, uncovering ways to refresh the kitchen by way of remodeling, thus, helping them achieve their renovation resolutions. “In 2022, homeowners will be looking to optimize space and service areas in the kitchen,” said JT Norman, Product & Design Innovation Lead for Kitchen Magic. "Building up these functional areas sets the stage for a sleek and clean kitchen aesthetic.” The company’s design and innovation experts have pulled together a forecast that truly coincides with the clutter-free and practicality often associated with a new beginning. A small sampling of the 2022 Kitchen Magic design trends forecast includes: Knobs & Pulls: The Jewelry of the Kitchen Brass, gold, and champagne tone fixtures are the latest in kitchen hardware. A gold finish is one of the best ways to a add a touch of glamour to the kitchen. Forest Bathing This trend brings the outside inside using materials such as wood, stone, and greenery. When deciding on a palette, think deep, rustic hues and use of color in unexpected places such as appliances and hoods. Scandinavian Influence This trend can be described in 3 words: Clean. Minimalist. Simple. This motif features smooth, straight lines; open floor plans; large glass windows; low profile cabinetry; and geometric shapes. Vinyl is in Vogue Product manufacturing technology has come a long way with homeowners impressed by the fact that they are unable to distinguish vinyl flooring from real wood or stone. It’s one of the more cost-effective flooring options on the market. This product trend will continue past 2022 because of vinyl flooring’s durability and designs. While many homeowners are waiting for January 1 st to commence any remodeling projects, Kitchen Magic hopes that this kitchen design forecast will inspire clients to be “out with the old, in with the new” ahead of the new year. Kitchen Magic’s full 2022 kitchen design trends forecast can be downloaded here. Kitchen Magic has teams of consultants across the Northeast to help homeowners in these regions envision their upcoming projects. To learn more and schedule your free consultation, visit www.kitchenmagic.com. About Kitchen Magic Kitchen Magic is a kitchen remodeling company with headquarters and manufacturing facilities located in Nazareth, PA. Kitchen Magic has been family-owned and operated since 1979. Using an exclusive cabinet refacing process, Kitchen Magic has transformed nearly 60,000 kitchens. Today, Kitchen Magic serves CT, DE, MA, NJ, NY, PA, and RI. Kitchen Magic is recognized by Qualified Remodeler as #1 in kitchen remodeling nationwide, an 11-time Angie's List Super Service Award winner, a Best of Houzz winner for design & service 10 times, and an honored 8-time winner of The Morning Call's Top Workplace Award. Contact Details Kitchen Magic LInda Fennessy +1 800-237-0799 linda.fennessy@kitchenmagic.com Direct Linda Fennessy +1 610-217-0964 Company Website https://www.kitchenmagic.com

December 02, 2021 09:13 AM Eastern Standard Time

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New Legal & General Study on Millennials and Housing Takes on Intergenerational Conflict Over Home Ownership

Legal & General

About half (48%) of non-home owning millennials are saving for a down payment 55% of those who are saving can’t afford to buy yet 12% of millennials abandoned their plans to buy a home 13% of millennials considering a Covid-driven move want to be nearer to family; 8% wanted to move away from family “Thanks Boomers.” There’s a quasi-war over housing going on between U.S. millennials and the generations comprising their parents and grandparents, with many 25- to 40-year-olds caught between blaming older generations for their difficulties in becoming homeowners and feeling dependent on them for necessary financial help if they are ever to succeed. Today, the fourth part of a broad new study conducted by Legal & General Group, U.S. Millennials and Home Ownership – A Distant Dream for Most, is released, diving into the deeply-held grudge millennials hold against Baby Boomers in particular for thwarting their home buying plans. This fourth segment of the data-rich study, Mind the Gap: The Intergenerational Home Ownership Blues, looks at the skyrocketing cost of housing and how changing intergenerational housing needs and other unseen factors are contributing to the reality of housing unattainability for many millennials. With longer healthy life expectancies than ever before, Baby Boomers are deciding to downsize but remain in privately owned housing, putting a strain on affordable housing stock just as the younger generation of home buyers want to buy starter houses. While the long-term consequences of these demographic shifts are still unfolding, the study found other factors exerting added pressure on the housing market, including institutional investment. Legal & General Group Chief Executive Nigel Wilson commented: “The severe shortage of affordable housing in the U.S., as well as the disproportionate amount of wealth held by older generations, significantly mirrors what we’re seeing in the U.K. Beyond older generations staying put in their own homes or being in a more competitive position to purchase starter-size smaller homes as they downsize, we see other market forces at work which are worsening the supply-demand imbalance. In the U.K. at Legal & General, as part of the solution to this imbalance, we are building a larger stock of affordable homes for first time buyers to purchase, as well as creating more opportunities for ownership through rent-to-buy programs.” Study Co-Author and Legal & General Corporate Affairs Director John Godfrey notes: “The proportion of 30-year-old U.S. home buyers has gone down steadily with each passing generation—over half of Baby Boomers owned a home at 30, 48 percent of Gen Xers, and so far millennials are at the bottom with just 42 percent. Considering that home ownership is a fundamental way to build wealth, it bodes poorly for millennials that affordable housing is becoming increasingly inaccessible to them. We should be meeting the demand by creating more opportunity, not less, for home ownership.” Legal & General’s study looks not only at the intergenerational housing gap, but also at demographic choices based on age and life stage, and at various drivers shaping these choices, including corporate investment and the rising cost of housing. The next segment of the study will look at the role of student loans and medical debt in hindering millennials in their home ownership quest. # # # Media Contact: For more information on the 2021 U.S. Millennials and Home Ownership study, or to see a copy of Part 4 of the report, please contact: Meir Kahtan: mkahtan@rcn.com +1 917-864-0800 Meir Kahtan Public Relations, LLC Notes To Editors The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions. About the Study Legal & General undertook proprietary research into the attitudes and changes, as well as geographic shifts, U.S. Millennials are experiencing in relation to home purchases and affordable housing. The U.S. Millennials and Home Ownership research was compiled using original survey data 875 U.S. based Millennials who don’t own a property, then segmented into three distinct age groups and other demographic markers. The survey work was carried out by Legal & General. Fieldwork was undertaken during March and April 2021. All surveys were carried out online. About Legal & General Group Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the U.S., Europe, Middle East and Asia. With over $1.4 trillion in total assets under management, Legal & General is the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.legalandgeneralgroup.com/

December 01, 2021 09:00 AM Eastern Standard Time

QX Global Group is now a proud member of the BDO Alliance USA

QX Global Group

QX Global Group, a leading knowledge process outsourcing company with a growing presence in North America, today announced its membership with the BDO Alliance community, America’s foremost association of independently owned local and regional accounting, consulting, and financial services firms with aligned client service goals. This alliance strengthens and further extends QX’s award-winning and acclaimed industry experiences in enabling transformation of their clients' internal business operations to streamline and simplify their processes. QX will draw upon the knowledge, expertise, and resources of the BDO Alliance to support the transformation and growth of accounting firms in the US by leveraging its vast pool of highly qualified talent consisting of accountants, tax professionals, and consultants. Commenting on the development, Mr. Ravi Kurani, Country Head, North America, said, “This alliance opens up whole new possibilities for QX and our accounting clients in the US. We bring to the alliance community cost-effective, professional and secure outsourcing services to help them resolve talent gaps, extend their service offerings, and thereby increasing both margins and profits." QX brings to the financial community outsourcing solutions that adds value to accounting firms especially in a time when the profession is faced with a severe shortage of skilled staff. “We believe the professionals of QX Global Group share BDO’s commitment to exemplary client service and we want to welcome them into the BDO Alliance USA,” said Michael Horwitz, BDO USA, LLP Partner and Executive Director of Alliance Services. QX continues to build on its rich legacy of providing enhanced outsourcing services in accounting practices, primarily around tax preparation, accounting and reengineering projects. About QX Global Group QX Global Group is a leading provider of business process management services. With over 17 years of accounting and recruitment process outsourcing experience, we help our clients unlock business value by improving process efficiencies and automation in the accounting and recruitment function to enable business transformation. We are based out of the UK with offices in the USA, Canada, Australia, and India. About BDO Alliance The BDO Alliance USA is a nationwide association of independently-owned local and regional accounting, consulting, and service firms with similar client service goals. The BDO Alliance USA presents an opportunity for firms, by accessing the resources of BDO USA, LLP, and other Alliance members, to expand services to their clients without jeopardizing their existing relationships or their autonomy. The BDO Alliance USA was developed to provide member firms with an alternative strategy for gaining a competitive advantage in the face of a changing business landscape. Participants in its Vendor Marketing Program include non-member firms that serve as vendors providing additional products and services to member firms and their clients. The BDO Alliance USA is a subsidiary of BDO USA, LLP, a Delaware limited liability partnership. Contact Details QX Global Group Vishal Kurani +1 646-693-9693 vishal.kurani@qxglobalgroup.com Company Website https://qxglobalgroup.com/

November 30, 2021 11:14 AM Eastern Standard Time

A second significant deal for Nofar Energy in Poland’s renewable energy market

Ivri PR

In line with its strategic plan and following its entry into Poland’s renewable energy market, Nofar Energy (NOFR) today announced a second significant deal in Poland. Nofar reported it had purchased a portfolio of solar projects with a total capacity of 185 megawatts. Earlier this week, the company said it had signed an agreement with Electrum SP. Z O.O, a leading player in Poland’s renewable energy market. Under the contract, the two companies will jointly own a corporation devoted to initiating, developing, managing, and maintaining photo-voltaic (PV) and wind energy projects in Poland with a capacity of up to 1,250 megawatts. The expansion of Nofar’s operations in Poland adds to the projects, companies, and development platforms that Nofar already owns in the USA, Spain, Romania, Italy, and Israel. Under the new deal, Nofar Europe (90%) inked an agreement to buy a portfolio of solar projects in Poland with a total capacity of 185 megawatts, which are in different stages of construction and development. The projects are acquired from Paged Real Estate, which will develop them until RTB. The company plans to connect the projects to the power grid in 2023-2024. The portfolio comprises 14 projects with capacities ranging from 1 to 68 megawatts. The projected construction cost of all the projects in the portfolio is € 96.6 million, and their projected annual revenues are estimated at € 11.7 million with a yearly EBITDA of approx. € 7.8 million. Nadav Tenne, CEO of Nofar Energy, said, “the current deal and the partnership with Electrum, which we announced earlier, adds to Nofar’s development momentum in the USA, Italy, Romania, Spain, and Israel. Anchored in the global organizational infrastructure that we built over the past year, including initiation, development, funding, construction, and management in the said markets. Nofar’s unique business model, organizational scheme, and global presence allow it to develop additional growth platforms in profitable growth. At the same time, the company invests in its current operations to ensure continued rapid growth.” Poland’s renewable energy market In February 2021, the Polish government adopted the Polish Energy Policy for 2040 (PEP2040). The policy stipulates that by 2030, coal-based electricity will be reduced from 66% to 56%, CO 2 emissions will be reduced by 30%, and the rate of renewable energies in power generation will increase from 13% to at least 23%. These milestones will be implemented concurrently with constructing marine power generation facilities and increased power generation from nuclear energy. Furthermore, the Polish government has also undertaken to shut down all the coal mines in the country by 2049. Poland’s renewable energy market is projected to grow substantially over the next few years, among others, to comply with the policy objectives. An independent consulting company estimated that 11.3 gigawatts of new power generation projects from renewable sources (solar and wind) will be built by 2025. By 2030, the capacity would increase by 25.7 gigawatts compared with today’s power. Of this capacity, 10.3 gigawatts will be generated from solar plants, 9.4 from land-based wind energy facilities, and the balance from wind energy facilities located in the sea. Thus, by 2025, electricity from renewable sources is expected to account for 21% and 42% by 2030, compared with 13% in 2021. Contact Details nofar-energy Dikla Ivri Pardnoy +972 52-380-4085 Dikla@ivripr.com Company Website https://www.nofar-energy.com/

November 25, 2021 01:55 AM Eastern Standard Time

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