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Marks Expansion to Traditional Vehicle Dealerships NEW YORK, Aug. 20, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar"; NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, today announced a two-year agreement between its wholly-owned subsidiary, Shengshi Dalian Insurance Agency Co., Ltd., and SAIC Maxus Automotive Sales & Service Co., Ltd. ("SAIC Maxus"). This collaboration aims to enhance the management of auto e-insurance services across SAIC Maxus's extensive network of dealerships across China, making a new era for SunCar as it expands beyond its extensive partnerships with new energy vehicle manufacturers to include traditional vehicle dealerships. SAIC Maxus, a wholly-owned subsidiary of SAIC Maxus Automotive Co., Ltd, is one of China's leading commercial vehicle manufacturers. As a key division of SAIC Motor, SAIC Maxus specializes in the research, development, manufacturing, and sales of a wide range of commercial vehicles, including light commercial vehicles, mid-sized buses, and electric vehicles. With a strong focus on innovation and quality, the Company is dedicated to driving the future of the commercial vehicle industry. With over 100 direct sales dealerships across China, SAIC Maxus will adopt SunCar's subsidiary's online platform, which signifies a bold step towards modernizing its e-insurance processes and offering new and enhanced services to its customers. The first-year service fee of this collaboration is estimated to reach 100 million RMB (approximately US$14 million.) Ye Zaichang, Chairman and CEO of SunCar Technology Group commented, "We are excited to collaborate with SAIC Maxus, a leading name in the automotive sector. Our Company has long been committed to expanding our collaboration with traditional fuel vehicle dealerships. The full-scale implementation of our insurance technology services in this partnership represents a significant step forward in digitizing insurance services and enhancing the overall customer experience. We are confident that our innovative solutions will deliver value to SAIC Maxus and its customers, setting new standards in the industry. As this partnership evolves, we expect it to establish a new business model and set a precedent for future collaborations, building on our comprehensive engagement with new energy vehicle companies, OEMs, and dealerships, thereby unlocking substantial opportunities for revenue growth." About SunCar Technology Group Inc. Originally founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company's multi-tenant, cloud-based platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit https://suncartech.com. Contact Information: SunCar:Investor Relations: Ms. Hui JiangEmail: IR@suncartech.com Legal: Ms. Li ChenEmail: chenli@suncartech.com U.S. Investor RelationsMatthew Abenante, IRCPresidentStrategic Investor Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com
DUBLIN and STAMFORD, Conn. and ROME, Aug. 20, 2024 /PRNewswire/ -- AIP Capital ("AIP"), an alternative investment manager focused on opportunities in commercial aviation, announced it has completed a $240m debt financing to a wholly owned subsidiary of ITA Airways ("ITA") through its Private Credit strategy. The $240 million debt financing is secured by three 2024 Airbus A330-900neo aircraft with Rolls-Royce Trent 7000 engines. The financing transaction will provide ITA with an innovative capital solution to further strengthen its financial position and enhance its growth. With the introduction of the latest generation eco-efficient A330neo, ITA continues its fleet modernization to meet its ambitious sustainability targets. The A330neo incorporates the latest-generation Rolls-Royce Trent 7000 engines, new wings and a range of aerodynamic innovations which offers a 25% reduction in fuel consumption and CO2 emissions. "We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA's fleet modernization," said Michael Kittle, Managing Director, Head of Private Credit at AIP Capital. "This transaction is a testament not only to our shared mission of fostering more sustainable air travel, but to AIP's expertise in structuring innovative, scaled, capital solutions for our airline customers globally." "This agreement represents a milestone in the expansion of ITA's new-generation fleet" said Antonino Turicchi, Chairman of ITA, "and is in line with ITA Airways' strategy of flanking shareholder equity with a balanced contribution of debt capital. This transaction is another important stride forward in ITA Airways' growth strategy, and it has been possible thanks to an increasing credibility with banks and investors which was acquired through the positive performance recorded in 2023 and in the first half of 2024. We are pleased with the trust provided to us by the AIP Team." The new-generation aircraft are highly demanded due to their low fuel consumption, lower operating costs, and reduced emissions, enabling a significant reduction in carbon footprint. ITA has made significant progress with fleet renewal since inception in October 2021, growing from 52 aircraft to 100 aircraft today, with new-generation types representing 58% of the total fleet, delivering a 25% reduction in fuel and CO₂ emissions. AIP Capital's Private Credit business, through its global origination capabilities and long-term investor relationships, provides tailored financing solutions secured by aircraft and non-aircraft collateral to airline customers around the world. About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in commercial aviation. AIP believes its unique investment strategy, relationships, and hands-on approach enable AIP to execute its mission of generating attractive risk-adjusted returns for its clients across market cycles. With offices in Stamford, Dublin, and Singapore, AIP maintains a global footprint and is backed by a full platform of professionals across finance, technical, legal, risk management and underwriting. For more information about AIP Capital or to speak with company executives, please contact investor.relations@aipcapital.com. About ITA Airways ITA Airways is the Italian reference airline, wholly owned by the Italian Ministry of Economy and Finance. ITA Airways aims to create an efficient and innovative air carrier that will become a reference point in providing Italy with quality connectivity both in terms of international destinations, thus boosting tourism and foreign trade, and within the Country, also taking advantage of the train-air integrated mobility. ITA Airways will place the best customer service at the center of its strategy (through a strong digitization of processes that ensure a best-in-class experience and personalized services), combined with sustainability, in its environmental (new green and technologically advanced aircraft, use of sustainable fuels), social (equality and inclusion for a gender-neutral company) and governance (integration of sustainability into internal strategies and processes) aspects. ITA Airways is a member of SkyTeam alliance as of October 2021. For press information mail to media@ita-airways.com
The LNG terminal in the port city of Aqaba is critical for Jordan's energy independence and security Jordan, a country with a population of 11 M with a GDP of US$ 48.6 B has historically relied on pipeline gas as a key fuel for its power and industrial requirements. The terminal shall be the first permanent onshore LNG terminal facility in the Kingdom. Project's scope encompasses full engineering, procurement, construction, installation, and commissioning (EPCIC) of a 720 mmscfd onshore regasification facility including marine works, jetty topside work and other associated components. Expected commissioning of the terminal in Q2 2026. Aqaba Development Corporation (ADC), the state-owned infrastructure company, shall be the customer for the facility. SEOUL, South Korea, Aug. 20, 2024 /PRNewswire/ -- Leading LNG Infrastructure company GAS Entec with its group company AG&P and local partners Issa Haddadin, together referred as Consortium, has been awarded a contract to build Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah onshore regasification LNG Terminal at Port of Aqaba in the Kingdom of Jordan. The tender was awarded to the Consortium by Aqaba Development Corporation (ADC), the state-owned infrastructure company and the customer for the facility. (L-R): Murad Al-Sharif, CEO, IHPCO; Chong Ho Kwak, CEO, GAS Entec; Nishant Sharma, Commercial Head, GAS Entec & Senior Vice President, AG&P; His Excellency Hussein Safadi, CEO, ADC; Omar Albdour, Energy Unit Head, ADC The project's scope encompasses full engineering, procurement, construction, installation, and commissioning (EPCIC) of a 720 mmscfd onshore LNG regasification facility, marine works, jetty topside work and other associated components and shall be completed, commissioned and delivered within 22 months. Widely regarded as the most significant energy project in Jordan, the terminal shall play a crucial role in enhancing the national economy, trade, and services environment while bolstering Jordan's energy security. Jordan relies heavily on natural gas for its power and industrial needs but faces challenges with supply reliability. The new LNG terminal will provide Jordan with the flexibility to access LNG from various global suppliers, ensuring a stable and secure energy source. GAS Entec and AG&P were selected from a competitive pool of companies based on their robust credentials and a cost-effective solution leveraging GAS Entec's state-of-the-art technology of modularizing and fabricating key regasification components in Korea and transporting them to project sites world-wide. This prestigious award marks a significant milestone for GAS Entec and AG&P and underscores their global standing in the LNG industry. Chong Ho Kwak, Chief Executive Officer, GAS Entec said, "This project is a testament to our commitment towards delivering innovative and efficient solutions in the LNG sector and adds to our already esteemed list of credentials." Nishant Sharma, Commercial Head of GAS Entec and Senior Vice President, AG&P said, "We are honored to have been chosen for this critical project, which shall significantly contribute to Jordan's energy security and its economic development. The trust ADC has placed in GAS Entec and AG&P underscores our dedication towards customer-centric solutions and our ability to deliver cost-effective, world-class LNG infrastructure." Omar Albadour, Head of Energy Unit, ADC said, "We are privileged to have reputed LNG Infrastructure partners like GAS Entec and AG&P to deliver this strategic project, which shall be a milestone in our country's continued transition towards reliable energy. We look forward to the project's commissioning by Q2 2026." The Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah onshore regasification LNG Terminal Project will enhance GAS Entec and AG&P's already esteemed profile as leading LNG terminal developers. This award complements their extensive portfolio, including LNG terminals in Indonesia and the Philippines, four FSRU conversions globally, two LNG FSU carrier conversions, and three LNG bunkering ships in North America, Japan, and Singapore respectively. About GAS Entec: GAS Entec, headquartered in South Korea, is an energy advisory and LNG Infrastructure company leading the energy transition to cleaner fuels. It specializes in end-to-end LNG infrastructure solutions, including LNG-to-power, LNG bunker vessels, small-scale LNG floating terminals and LNGC-to-FSRU conversions. With its Korean associates, Donghwa Entec (www.dh.co.kr) and Donghwa Pneutec (http://www.dhkomp.co.kr/) GAS Entec is at the forefront of innovation in the energy industry. https://gasentec.com/ For enquiries: info@agpjordan.com About AG&P International AG&P is a global leader in developing and running LNG and gas logistics and distribution solutions. AG&P provides the infrastructure to access natural gas safely and easily in new and growing markets. https://agpglobal.com/ For enquiries: info@agpjordan.com About ADC: Aqaba Development Corporation (ADC) is owned by Government of Jordan and the Aqaba Special Economic Zone Authority (ASEZA) and was established to build strategic infrastructure in the ASEZA region in Jordan and to optimize private sector participation in their development and management to stimulate the economy and promote growth and development of ASEZA in Jordan. https://www.adc.jo/
PERTH, Australia, Aug. 19, 2024 /PRNewswire/ -- Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), a Canadian-focused multi-asset lithium business, is pleased to announce the execution of a Framework Agreement and Corporate Equity Investment with leading South Korean EV battery metals producer EcoPro Innovation Co., Ltd. HIGHLIGHTS GT1 secured a A$8 million investment and a Framework Agreement with South Korean EV battery metals producer EcoPro Innovation Co., Ltd The partnership supports GT1's strategy to become Ontario's first integrated lithium producer The agreements cover both upstream (mining and raw material extraction) and downstream (processing and conversion) activities Potential collaboration includes developing mines and a proposed Lithium Conversion Facility Corporate equity investment - at a significant premium to the last closing price and a 40% premium to the 90-day VWAP for an investment of A$8m via a two-tranche placement Asset level investment options – up to 12-months exclusive rights to negotiate and agree staged asset-level investments in the Seymour and Root mine developments (Projects) in anticipation of negotiation of joint venture agreements to drive project advancement Conversion Facility PFS Cooperation Agreement – negotiation of a comprehensive agreement outlining the execution and co-funding of a Pre-Feasibility Study (PFS) on the proposed Lithium Conversion Facility in Canada, leading to the negotiation and formation of a joint venture for the completion of a Definitive Feasibility study (DFS) and co-development of the facility EcoPro brings extensive experience in lithium hydroxide production along with patented technology for lithium extraction The partnership validates the Company's integrated strategy to become Ontario's first lithium concentrates and chemicals company Joint funding application submitted to Invest Ontario for government funding on the proposed Lithium Conversion Facility - in progress "Our journey with EcoPro Innovation has been over 12 months in the making, during which time our teams have dedicated countless hours working jointly on understanding and expanding on GT1's strategy to be the first integrated lithium chemical supplier in Ontario. Attracting a top-tier partner like EcoPro along with the investment at a premium provides further validation of our company, team, assets and ability to progress our assets and projects towards production. EcoPro has been assessing the North American market for some time and it's with great optimism that we enter this new phase of GT1's development. EcoPro stands out as a top-tier strategic partner, bringing invaluable experience in owning and operating, not only successful Lithium Conversion facilities but also Nickel Pre-cursor and Cathode Active Material facilities globally. Their global scale and expertise in manufacturing and supplying battery-grade lithium chemicals will greatly benefit GT1 as we advance our integrated strategy in North America. - GT1 Managing Director, Cameron Henry To view the full announcement: https://wcsecure.weblink.com.au/pdf/GT1/02840488.pdf For further information please visit www.greentm.com.au or contact Media Jacinta MartinoInvestor Relations Manager jacinta@greentm.com.au
TOKYO, Aug. 20, 2024 /PRNewswire/ -- TIER IV, the pioneering force behind the world's first open-source software for autonomous driving, is proud to announce its selection for a project aimed at deploying robotaxis for transportation and autonomous trucks for logistics. Overseen by the Ministry of Economy, Trade and Industry (METI), this initiative is designed to promote digital transformation in the mobility sector through autonomous driving development and proof of concept (PoC) tests. The maximum grant amount for the project in fiscal year 2024 is US$4.5 million (¥700 million). In May 2024, TIER IV announced efforts to launch the robotaxi business in Tokyo. In collaboration with partner companies, TIER IV is working on several initiatives in preparation for the mass production of robotaxi vehicles and the nationwide deployment of robotaxi services: Development of a new robotaxi vehicle with Toray Carbon Magic Tokyo robotaxi PoC tests with Nihon Kotsu Verification of a robotaxi hub with AMANE Simultaneously, TIER IV also announced efforts to accelerate the development of the core functions of autonomous driving systems for highway trucks. It plans to provide reference designs to truck manufacturers, driving the deployment of autonomous vehicles in the logistics sector. The company's initiatives include: Development of autonomous trucks based on vehicles from Isuzu and Mitsubishi Fuso Truck and Bus, with technical support from both OEMs PoC tests on Shin-Tomei Expressway, where a priority lane for autonomous vehicles will be installed TIER IV's participation in this METI project reflects its commitment to delivering transportation and logistics solutions that meet the demands of the modern world, driving innovation and efficiency along the way. About TIER IV TIER IV stands at the forefront of deep tech innovation, pioneering Autoware, the world's first open-source software for autonomous driving, to empower intelligent vehicles worldwide. Harnessing Autoware, we build scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations. As a founding member of the Autoware Foundation, our commitment to open-source software enables individuals and organizations to thrive in the evolving field of autonomous driving, reshaping the future of intelligent vehicles. Autoware is a registered trademark of the Autoware Foundation. Media Contactpr@tier4.jp
RIYADH, Saudi Arabia, Aug. 20, 2024 /PRNewswire/ -- The Ministry of Transport and Logistics Services has announced the Global Logistics Forum 2024, scheduled from October 12 to 14 at the King Abdullah Financial District. Under the esteemed patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, this landmark event aims to foster international collaboration and reshape the global trade and supply chain landscape. The forum is expected to attract over 10,000 participants, including heads of state, ministers, industry leaders, experts, and innovators from around the world. The event will focus on enhancing sector infrastructure and optimizing logistics operations to drive growth and maximize impact. A key theme of this edition is the sector's need for adaptability in the face of global climate change, with the forum providing a collaborative platform for stakeholders to drive meaningful change. Attendees can look forward to a series of dynamic discussion sessions, interactive workshops, and exhibitions designed to encourage international cooperation and stimulate innovation in sustainable logistics solutions. The forum will also highlight Saudi Arabia's significant advancements in the sector, including the Kingdom's impressive rise by 17 places in the Logistics Performance Index and its progress toward achieving the goals of the National Transport and Logistics Strategy. Additionally, the forum will unveil the logistics centers master plan, announced by HRH the Crown Prince in mid-2023. This ambitious initiative to establish over than 100 million square meters, aimed at enhancing infrastructure, diversifying the economy, and cementing Saudi Arabia's position as a global logistics hub. Set in Riyadh, a city strategically positioned at the crossroads of the world's three largest continents and home to one of the most dynamic economies globally, the forum offers a unique opportunity for participants to influence future logistics trends, forge relationships with global leaders, and explore groundbreaking collaborations. Riyadh's modern infrastructure and rich cultural heritage further enhance the setting for this prestigious event. Media Kit: In addition to a press release, we have created a designated media kit that includes images, FAQs, and a factsheet that can be downloaded here. Arabic Release: If you would prefer to view the Arabic version of this release, please find the Arabic version here. About the Global Logistics Forum (GLF): The Global Logistics Forum (GLF) is an innovative platform dedicated to shaping the future of logistics leadership, bringing together global leaders, investors, and key stakeholders to foster collaboration and drive the logistics industry forward. By showcasing cutting-edge advancements and promoting innovative solutions, GLF leads initiatives that boost global connectivity and drive the sector's growth. The inaugural event, hosted by the Ministry of Transport and Logistic Services, aims to reshape global trade and supply chains by uniting ecosystem partners to enhance efficiency, resilience, sustainability, and profitability in a globalized world. For more information or to register for the event, visit https://glforum.org/
A12 藝術空間
Transportation/Trucking/Railroad
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