News Release
Nextech3D.ai Achieves 80% Gross Profit Milestone, Propelled by AI and Strategic Shift to Hyderabad
Nextech3D.AI
Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to announce the company has reached a significant milestone by achieving an 80% gross profit in Q2, 2024. This remarkable accomplishment marks a 166% increase from the 30% gross profit reported in 2023, showcasing the company's strong growth trajectory. Evan Gappelberg, CEO of Nextech3D.ai, attributes this milestone to the company's strategic investment in AI and its pivot to Hyderabad, India, in Q3, 2023. He expressed confidence in the company's ability to achieve profitability in 2024 by scaling revenue with impressive 80% profit margins while concurrently reducing operating expenses. This reduction in expenses is attributed to the continued investment in the company's patented AI technology, which enhances efficiency and productivity across operations. The strategic shift to Hyderabad, India, aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a sharp focus on profitability and fiscal responsibility for its valued shareholders. This move underscores the company's dedication to maximizing shareholder value while capitalizing on emerging market opportunities in the eCommerce and technology sectors. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com
May 02, 2024 02:10 PM Eastern Daylight Time
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Cadiz Inc. CEO Susan Kennedy Shares Evolution and Vision for Water Management Strategies
Cadiz Inc
Cadiz Inc CEO Susan Kennedy joined Steve Darling from Proactive to to discuss the company's remarkable evolution and advancements in water management strategies. Initially established around two decades ago with a focus on leveraging land and water assets for public storage, Cadiz Inc. has since transformed into a prominent player in the global water industry. Today, the company oversees a portfolio of water assets valued at over $5 billion and aims to emerge as the largest water trading bank in the southwestern United States. Central to Cadiz Inc.'s operations is its ownership of a vast aquifer system located in the eastern Mojave Desert. This aquifer, estimated to hold between 30 to 50 million acre feet of water—more than double the capacity of Lake Mead, serves as a crucial but complex water resource, situated hundreds of feet underground. Kennedy underscored the ongoing challenges posed by climate change, particularly the diminishing snowpack, a traditional source of water replenishment. In response, Cadiz Inc. has adapted by acquiring strategic infrastructure such as pipelines and right-of-ways, enabling efficient management and transportation of its substantial water resources. Moreover, the company has successfully navigated through extensive regulatory processes and litigations, positioning itself for significant public partnerships and infrastructure projects. These initiatives are geared towards bolstering water security and addressing the escalating demand for resilient water management solutions in the face of climate variability. Cadiz Inc.'s transformation underscores its commitment to innovative water management practices, aiming to meet the evolving needs of communities while mitigating the impacts of climate change on water resources. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
May 02, 2024 02:06 PM Eastern Daylight Time
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News Release
Atha Energy Prepares for Phase I Diamond Drilling Program at Angilak Project in Nunavut
ATHA Energy Corp
Atha Energy CEO Troy Boisjoli joined Steve Darling from Proactive to announce announced the completion of equipment and supply mobilization to the Angilak project in Nunavut, Canada. The mobilization effort included the delivery of two state-of-the-art X10 Diamond Drills, aimed at enhancing daily meterage production compared to previous drilling campaigns. Scheduled to commence in early June 2024, Atha Energy has finalized a service agreement with Base Diamond Drilling, a renowned operator with extensive experience in Canada's northern regions and uranium-rich Athabasca Basin, to conduct a Phase I diamond drilling program. Angilak, wholly owned by Atha Energy, hosts the Lac 50 uranium deposit, one of the largest high-grade deposits outside of the Athabasca Basin, boasting a historical mineral resource estimate of 43.3 million pounds at an average grade of 0.69% U3O8. The 2024 exploration program at Angilak aims to advance geological understanding and delineate additional mineral resources, building upon the groundwork laid by Latitude Uranium, acquired by Atha Energy in late 2023. Phase I of the program will feature a nearly 10,000-meter diamond drilling campaign targeting the expansion of the Lac 50 Deposit, which remains open in all directions. Phase II will encompass geophysical surveys, including electromagnetic, magnetic, and VLF surveys, alongside ground geochemistry sampling and mapping, further enhancing the project's exploration efforts. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com
May 02, 2024 02:04 PM Eastern Daylight Time
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Toggle3D.ai Welcomes Hareesh Achi as New CEO, Transitioning from Evan Gappelberg
Toggle3D.ai Inc
Toggle3D.ai Chief Executive Officer Hareesh Achi and Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to announce Toggle3D.ai's latest move involves appointing Hareesh Achi as the new Chief Executive Officer, succeeding Evan Gappelberg, who remains the CEO of parent company NextTech3D.ai. Achi, with a rich background at tech giants like Microsoft and Meta, brings a wealth of experience in large-scale operations, a crucial asset for Toggle3D's ambitions in 3D technologies and AI. Gappelberg expressed confidence in Achi's ability to steer growth and innovation at Toggle3D, citing his deep understanding of the company's operations and technological framework. Achi, in turn, reiterated his dedication to leveraging his expertise to elevate Toggle3D's offerings in the 3D space. He recognized the vast potential for expansion and innovation across industries such as e-commerce and manufacturing. Under Achi's leadership, Toggle3D aims to harness its advanced AI capabilities and user-friendly technologies to secure a prominent position in the market. Gappelberg emphasized the strategic timing of this leadership transition, aimed at enhancing shareholder value during a pivotal growth phase for Toggle3D. Contact Details Proactive Canada +1 604-688-8158 action@proactiveinvestors.com
May 02, 2024 02:02 PM Eastern Daylight Time
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AI Sports Odds Intelligence Firm Bettormetrics Finds US Sportsbooks Leave Billions in Handle on the Table Due to Poor Suspension Strategies
Bettormetrics
Bettormetrics, an innovative company providing competitive sports odds intelligence and insight to the sports betting industry, reported today through its latest data analysis, that the leading US sportsbooks are potentially losing tens of millions of dollars in revenue due to length of suspension times during live sport contests. According to the findings, FanDuel led the top three sportsbooks in potential revenue lost, leaving an estimated $1.45 billion in handle on the table with an average suspension rate of 15.8% (84.2% uptime) per fixture. DraftKings, although best in class, leaves a potential $249 million in handle with an industry leading suspension rate of 4.8% (95.2% uptime) The analysis was done leveraging NBA betting data for the 2023-2024 season. “While suspension is an inevitable occurrence in sports betting as traders necessarily evaluate the risks surrounding new situations within games, some sportsbooks are more systematically cautious than others. It’s this situational nuance that leads to more sportsbooks looking at risk instead of the potential rewards around improving its average uptime” said Robert Urwin, CEO and co-founder of Bettormetrics. “In looking at our NBA data of the top three US sportsbooks, it’s clear to see the suspension strategies and the risk management perspectives of each book’s trading desks. While FanDuel is potentially losing out on the most revenue, based on its incredible volume, with a few optimizations it can dramatically increase its margins and create distance between itself and DraftKings as the definitive leader in US sportsbook operations.” Suspension is when a sportsbook periodically shuts down betting lines in a sporting event to readjust the odds based on activity within the event (a basket, touchdown, goal, penalty, key injury, etc.). Each sportsbook handles suspension differently and for different periods of time. Depending on the length of time the odds are suspended, sportsbooks are losing the opportunity to accept new bets and can potentially lose active users to other sportsbooks, should odds be shut down for extended periods of time. “Every operator is looking for ways to grow their margins, increase wagering and reduce customer attrition. While many sportsbooks externalize their focus on the cost of user acquisition, suspension can help a sportsbook find new revenue from within by becoming more efficient than their competitors,” said Sabin Brooks, Commercial Director of Bettormetrics. “In the US, market share is gained in very slim percentage points. By understanding and addressing these crucial trading efficiencies, sportsbooks can gain potentially billions in lost revenue. A poor suspension strategy is very bad business for customers and shareholders alike.” Suspension is just one element of overall sportsbook performance. Bettormetrics monitors and analyzes thousands of live in-play sports betting events traded every single week. Observed performance and competitive analysis by Bettormetrics has already helped traders and analysts discover and ameliorate deficiencies that directly impact sportsbook revenues and profitability. About Bettormetrics Bettormetrics is an innovative company providing competitive sports odds intelligence and insight to the sports betting industry. Bettormetrics’s Trading Analytics Platform is a SAAS product supporting sportsbook trading desks with cutting edge insight and analysis on the entire event life cycle, helping sportsbooks, data suppliers and B2B platforms gain an edge on competitors and ensure no profits are left on the table. For more information, please email info@bettormetrics.com or visit Bettormetrics.com. Contact Details Digital Sport by Hot Paper Lantern Bailey Irelan birelan@hotpaperlantern.com Square In The Air Ben Cleminson ben@squareintheair.com Company Website https://bettormetrics.com/
May 02, 2024 12:50 PM Eastern Daylight Time
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Cyclone Metals' Iron Bear Project poised to lead green steel revolution
CYCLONE METALS LIMITED
Cyclone Metals Ltd (ASX:CLE) CEO Paul Berend is back with Proactive after the company cut the ribbon on results from the first phase of metallurgical test-work at its Iron Bear Project in Canada. The team is celebrating after the program generated high-quality, high-yield iron ore concentrates —a crucial step in Cyclone's efforts to advance sustainable steel manufacturing through its flagship magnetite project. The pilot plant at Corem in Quebec City processed roughly half a tonne of source sediment, initially containing 29.1% total iron (Fe). Positively, Berend says the test results surpassed previous efforts, producing a direct reduction (DR) concentrate with a 71.3% Fe grade and 1.1% silicon dioxide (SiO2). This high-grade DR concentrate is pivotal for steel production via direct reduction technologies, aligning with the industry's shift towards more environmentally friendly practices. Additionally, the plant achieved a blast furnace concentrate with 69.8% Fe and 3.4% SiO2 and a reverse flotation (RF) concentrate grading 68.3% Fe and 4% SiO2. These results contribute to improved overall recovery rates and product quality while maintaining low levels of deleterious elements, essential for clean steelmaking inputs. What’s more, Iron Bear’s location near Schefferville on the border between Newfoundland and Labrador and Quebec provides strategic advantages. According to Berend, proximity to key infrastructure like an open-access heavy haul railway and potential access to renewable energy from the nearby Menihek hydro-plant enhances the project's economic viability. The project’s magnitude is also a factor: a mineral resource update, released this month, puts the project at 16.6 billion tonnes of iron grading 29% total Fe and 18.2% magnetic Fe under JORC standards. These substantial resources, coupled with the recent pilot plant test-work, place Cyclone Metals at the forefront of developing next-generation low-carbon iron ore products. Moving ahead, the company has initiated phase two of the pilot program, planning to produce larger sample sizes for further testing and potential client trials as it works to foster partnerships for future offtake agreements. Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com
May 02, 2024 12:40 PM Eastern Daylight Time
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Perú Moda Deco & Alpaca Fiesta are coming to
Arequipa for the first time
Promperu
Perú Moda Deco & Alpaca Fiesta will be will be making the trip from Lima to the south for the first time and will be hosted in the Arequipa region from October 21 to 26, according to the Commission for the Promotion of Peru for Exports and Tourism (PROMPERÚ) and the International Alpaca Association (AIA). Perú Moda Deco, Peru’s leading fashion and decor industry event, is organized by PROMPERÚ in order to provide a unique platform where international attendees can establish business relationships with national companies known for their renowned offer, responsiveness and versatility to meet market needs. Meanwhile, the International Alpaca Association (AIA) organizes Alpaca Fiesta, the most important meeting of the alpaca industry. Every three years, this event reminds the international industry why Peruvian alpaca fiber is the best in the fine hair category worldwide. For the present year, PROMPERÚ and AIA have joined forces for the first time, strengthening business and networking opportunities for local and international professionals and entrepreneurs from the supply chain all the way to the commercial exhibition. Also, complementary activities will be implemented in academic, cultural and fashion topics. All these efforts will promote Peru’s alpaca industry across the world, attracting buyers from international markets. It is important to remember that the United Nations General Assembly has declared 2024 the International Year of CAMELIDS (IYC 2024). This designation highlights the crucial role of camelids in the lives of millions of families, a key resource that contributes to the development of different communities worldwide. Business Roundtable This year’s business roundtable of Perú Moda Deco will be held together with the Alpaca Fiesta event in order to present the main lines of the clothing sector to the international visitors and to help them discover the origin of the alpaca fiber, one of the most important clusters of the Peruvian clothing industry. Perú Moda Deco 2023 received 984 attendees and reached USD 83 million through 1,978 business appointments. The 2024 edition is expected to surpass last year’s figures. Contact Details Promperu José Carlos Collazo jcollazos@promperu.gob.pe Company Website http://www.promperu.gob.pe
May 02, 2024 12:19 PM Eastern Daylight Time
News Release
Nano One Materials Corp Forms Alliance with Worley Chemetics for Cathode Active Material Production
Nano One Materials Corp
Nano One Materials Corp COO Alex Holmes joined Steve Darling from Proactive to announced the company's partnership with Worley Chemetics through a Strategic Alliance Agreement and a License Agreement. The collaboration aims to jointly develop, market, and license a process engineering design package for the deployment of cathode active material (CAM) production facilities within the lithium-ion battery materials sector. Worley Chemetics, known for its expertise in technology and solutions for specialty chemicals facilities, will play a crucial role in this venture. Under the Strategic Alliance Agreement, Nano One and Worley will collaborate to develop a comprehensive CAM package integrating Nano One's proprietary One-Pot process into a modular process engineering design. This package will encompass intellectual property rights, flow sheets, detailed engineering, operational expertise, and specialized equipment fabrication by Worley Chemetics. The License Agreement governs the sale of CAM packages, including cross-licensing of intellectual property, license fees, and remuneration arrangements over a term of up to 20 years. The joint effort will result in the creation of One-Pot enabled CAM packages marketed to customers globally. These packages will cater to a diverse range of clients in North America, Europe, the Indo-Pacific, and other regions, empowering them to establish competitive CAM production assets. The initiative aligns with the growing demand for renewable energy storage and electric vehicles, positioning Nano One Materials Corp and Worley Chemetics at the forefront of innovation in the lithium-ion battery materials sector. Contact Details Proactive USA +1 347-449-0879 na-editorial@proactiveinvestors.com
May 02, 2024 12:09 PM Eastern Daylight Time
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Locality Expands Leadership with Category Focus, Appoints Robin Wong as VP
Locality
Locality, the industry’s preeminent local video advertising solutions provider, today announces the appointment of Robin Wong as the company’s new Vice President, Category Lead on its converged sales team. In this role, Wong will focus on maximizing advertiser value in the automotive, QSR, and retail sectors by implementing category-specific local sales strategies across Locality’s comprehensive suite of premium streaming video and broadcast inventory. She will report into Steven DeMain, EVP of Sales. An ad sales leader with 20+ years of experience, Robin brings a proven track record of strategic vision, revenue growth, and deep expertise in streaming advertising. She will work closely with Locality executives to drive interest from key categories within the mid-market segment and strengthen Locality’s relationships with agency holding companies. Wong will also partner with Locality’s marketing and converged teams to help develop go-to-market strategies and simplified local buying solutions that combine streaming and broadcast for advertisers. Prior to joining Locality, Robin was a West Coast Director of Ad Sales for VIZIO managing national and local streaming campaigns with a focus on ACR targeting, data, and measurement. She previously held ad sales leadership roles with Vevo as the West Coast local lead driving market share for local CTV streaming video advertising. Additionally, Wong contributed to the success of local broadcast TV stations under Emmis Communications, Tribune Broadcasting, and Bally Sports. "We are thrilled to have Robin join Locality," said Steven DeMain, at Locality. "Her ability to develop specialized sales strategies, foster strong client relationships, and drive tangible results will be invaluable as we continue to innovate around local video advertising solutions." “Building strong relationships with clients has always been a cornerstone of my career in ad sales,” said Wong. “The opportunity to leverage my expertise in both local and national streaming video advertising and local broadcast TV, alongside Locality's innovative approach to deliver optimal outcomes for our clients, is incredibly exciting.” About Locality Locality is the industry’s preeminent local video solutions provider, committed to addressing the evolving needs of advertisers by unlocking the power of local and driving dollars to the local video marketplace. Locality brings together the best talent in both broadcast and streaming helping brands tap into the mindset of the local consumer and precisely reach optimal markets, nationally. Having served more than 1,500 ad agencies and 4,500 advertisers, to date, Locality offers the best premium inventory that the industry has to offer to help brands optimize their spend and target audiences at scale. Our team resides in 11 locations across the U.S. designed to strategically service 100% of DMAs. For more information, please visit www.locality.com. Contact Details Mackenzie Sikora mackenzie@kitehillpr.com
May 02, 2024 12:07 PM Eastern Daylight Time
