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Surf Air Mobility Beats Revenue Guidance and Appoints Former Bombardier Flexjet Exec as New Interim CEO

MarketJar

Surf Air Mobility Inc. (NYSE:SRFM), a leading regional air mobility platform, just announced its incoming interim-CEO, Deanna White, a leading pioneer in the aviation industry. 1 Deanna, Surf Air Mobility ’s former CFO and current Senior Advisor, will become full time Chief Operating Officer and interim CEO for Surf Air Mobility Inc. (NYSE:SRFM). Deanna White brings years of executive experience in aviation and a proven commitment to transforming flight. This news also marks a significant milestone for the aviation space, which is primarily a male-dominated industry. Deanna is the perfect choice to guide Surf Air Mobility into the future as the company turns its focus to profitability and efficiency. Her unparalleled depth of experience in the aviation industry, combined with her intimate knowledge of Surf Air Mobility and the broader opportunity, positions her to lead the company towards new heights. Since joining Surf Air Mobility in 2021, she has made valuable and long-lasting contributions as both CFO and Senior Advisor of the company. Deanna’s previous experience in both emerging aviation technologies and private charter operations makes her an amazing fit. She has served as COO at Kittyhawk, which was sold during her tenure to Boeing and has subsequently been rebranded as Wisk Aero, where she led the business operations and commercialization of an R&D eVTOL aircraft program. She was also CEO of Bombardier Flexjet, a global leader in private aviation, which was ultimately sold to Directional Aviation Capital for $185 million. Deanna is a seasoned industry leader, blending an intimate knowledge of Surf Air Mobility and its people with an unparalleled depth of experience in the aviation industry. She has a proven track record of success in the C-Suite of multiple innovative companies across the Air Mobility sector. Her previous experience in C-level positions at Bombardier Flexjet and Kittyhawk, continues to guide and inspire her as she leads Surf Air Mobility into its next chapter. This new phase will balance growth and opportunity with profitability, as Deanna reshapes the industry and realizes Surf Air Mobility ’s massive potential. In a CEO transition, Stan Little, the founder of Southern Airways and current Surf Air CEO, will move to a "Founder’s" role. Surf Air Mobility also provided financial and business highlights for the first quarter of 2024. The company is making progress on key initiatives, including supporting 19 communities under the Essential Air Service program and entering into an MOU to supply electric powertrains to Tanzanian Cessna Caravan operator Auric Air. The aircraft electrification program is on track to complete the conceptual design phase by the fourth quarter of 2024, and software development for B2C and B2B platforms is ongoing. To enhance its capital structure, Surf Air Mobility has engaged a leading investment bank to secure additional, non-dilutive or less-dilutive capital in the form of a credit facility. Congress is expected to imminently pass the FAA Reauthorization Act, which, in its current form, would positively impact the Essential Air Service (“EAS”) program by raising the subsidy cap from a maximum of $200 per passenger to a maximum of at least $650 per passenger. As of March 31, Surf Air Mobility supported 19 communities under the EAS program. The FAA Reauthorization Act requires the total cost of an air carrier's proposal to be equally weighted with other factors such as local recommendations, including frequency of service, and interline agreements. This focus on cost favors Surf Air Mobility’s low-cost Caravan fleet. Stan Little, founder of Southern Airways, highlighted that Surf Air Mobility achieved many first-quarter goals and met or exceeded guidance. He noted their collaboration with Congressional leaders from both parties to reform and expand the Essential Air Service program, aiming to benefit passengers, commuter air carriers, and taxpayers. Additionally, the company continued its electrification efforts, which are designed to benefit all stakeholders. For more information on the company’s first quarter financial results and outlook, visit investors.surfair.com. Surf Air Mobility Advances Regional Air Travel Through Electrification Surf Air Mobility Inc. (NYSE:SRFM), headquartered in Los Angeles, is dedicated to transforming regional air travel through electrification. The company partners with commercial leaders to develop innovative powertrain technology for smaller aircraft, with the goal of making regional flying more accessible and affordable while reducing environmental impact. Supported by a management team with expertise in aviation, electrification, and consumer technology, Surf Air Mobility is at the forefront of sustainable air travel innovation. In March, Surf Air Mobility signed an agreement with Auric Air Services Ltd. to upgrade up to 12 of their Cessna Grand Caravan aircraft with Surf Air ’s electrified powertrains, aiming to lower emissions and reduce operating costs. Auric Air, a Tanzania-based regional air operator, will be among the first to benefit from Surf Air 's technology once it is certified. This agreement marks a significant milestone for Surf Air, as it now has agreements covering approximately 13% of the Cessna Caravan market in Africa for electrified powertrain upgrades. Surf Air is currently developing Supplemental Type Certifications for both hybrid and fully-electric variants of the Cessna Grand Caravan. The company aims to achieve up to 50% reduction in direct operating costs and 100% reduction in carbon emissions for the fully-electric powertrain, which could have a profound impact on the aviation industry worldwide. This agreement with Auric Air follows similar agreements with other large Cessna Caravan operators in East Africa and Brazil. In February, Surf Air Mobility and Electra.aero Inc., a next-gen aerospace company, partnered to introduce affordable, sustainable, and easily accessible regional air travel. They plan to leverage Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft on Surf Air ’s technology-driven, on-demand air mobility platform, and through Surf Air ’s Aircraft-as-a-Service (ACaaS) offering to air operators. Surf Air Mobility Inc. (NYSE:SRFM) has secured early delivery positions for 90 Electra eSTOL aircraft, which will be integrated into the Surf Air national flight network, including Southern Airways Express and Mokulele Airlines. This initiative aligns with Surf Air ’s goal of supporting the launch, growth, and optimization of new electrified aircraft through its platform. The Electra eSTOL aircraft’s remarkable ability to take off and land in as little as 150 feet will enable direct-to-destination air transportation, expanding regional transportation to a broader customer base beyond what private aviation currently serves. Click on this link or read their corporate presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM). Footnotes: [1] https://finance.yahoo.com/news/surf-air-mobility-reports-first-200500326.html Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Surf Air Mobility Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-srfm. 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Surf Air Mobility Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Surf Air Mobility Inc.’s industry; (b) market opportunity; (c) Surf Air Mobility Inc.’s business plans and strategies; (d) services that Surf Air Mobility Inc. intends to offer; (e) Surf Air Mobility Inc.’s milestone projections and targets; (f) Surf Air Mobility Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Surf Air Mobility Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Surf Air Mobility Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Surf Air Mobility Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Surf Air Mobility Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Surf Air Mobility Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Surf Air Mobility Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Surf Air Mobility Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Surf Air Mobility Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Surf Air Mobility Inc.’s business operations (e) Surf Air Mobility Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Surf Air Mobility Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Surf Air Mobility Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Surf Air Mobility Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Surf Air Mobility Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Surf Air Mobility Inc. or such entities and are not necessarily indicative of future performance of Surf Air Mobility Inc. or such entities. 8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com

May 16, 2024 12:15 PM Eastern Daylight Time

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Recall.ai raises $10M to give any developer the ability to build AI meeting bots in days

Recall AI

Conversations are now the world’s largest dataset. Millions of hours of meetings happen everyday over video conferencing platforms, and hundreds of companies try to make sense of these meetings using AI-powered meeting bots that take months to build. Today, the universal API for meeting bots Recall.ai has announced a $10 million funding round to allow engineers to integrate with any meeting platform, including Zoom, Google Meet, Microsoft Teams, Slack Huddles, and even platforms with no API. This funding round comes hot on the heels of 10x growth over the past 12 months. The Series A funding round was led by Ridge Ventures with participation from Industry Ventures, Y Combinator, IrregEx, Bungalow Capital, Hack VC, and other existing investors. which will be used to scale Recall.ai’s product and team. This fresh investment brings the company’s total amount raised to over $12M, following a $2.7 million seed round in December 2022. It can take over one year for a team of specialist engineers to build the infrastructure and integrations required for even the most basic AI-powered meeting bots. After they’re built, companies face the bigger and more labor-intensive challenge of hosting and maintaining the infrastructure on hundreds of thousands of servers. In comparison, Recall.ai lets a single engineer get up and running with a meeting bot in a few days, even if they don’t have expertise in real-time video processing. This lets companies focus on building their core product while Recall.ai runs, monitors, and scales complex, real-time video infrastructure. "Recall has been a critical partner to us in rolling out Fellow.app's new AI copilot functionality which has been a huge hit with customers,” explained Aydin Mirzaee, CEO of Fellow.app. “We love working with Recall because they are focused on the infrastructure so that we can focus on what we're good at - solving meeting productivity for companies everywhere." Co-founders David Gu and Amanda Zhu launched Recall.ai as two important trends emerged: a worldwide shift to remote work, and advances in AI technology that simplified the processing of unstructured voice and video data. Gu and Zhu previously worked on a real-time transcription tool for video conferences, where the bulk of their engineering team’s effort was spent building and maintaining integrations with conferencing platforms. The duo realized companies building LLM tools to process data from virtual meetings today were running into the same integration and infrastructure hurdles they had already solved, and decided to start Recall.ai to enable the next generation of LLM-powered apps. Over the last 12 months, Recall.ai has grown 10x and today ingests millions of hours of video meeting data for more than 300 companies. Customers are currently using the platform to build powerful tools that leverage conversation intelligence for sales enablement discussions, productivity, customer success, financial advising, telehealth applications, and virtual depositions, among other use cases. Recently, Recall also partnered with Zoom to release an official Meeting Bot Starter Kit that generates a transcript, requests a meeting summary, and provides it to participants in near real-time. “Conversations are the world’s largest dataset,” said David Gu, co-founder at Recall.ai. “Large language models continue to unlock conversations in exciting ways, and the demand for developers to capture this data has never been higher. Every SaaS company in the world should be using conversations as a data source. Recall’s unified API makes it as easy as possible.” “Recall is on its way to becoming the de facto infrastructural layer for all enterprise-level conversational data,” added Akriti Dokania, Partner at Ridge Ventures. “Video and voice data will only become more central to software companies moving forward. Providing infrastructure API access is a hard problem to solve and enterprises don’t want to solve it in-house—Recall’s tremendous growth proves it ten times over. Most importantly, David and Amanda are an ideal founding duo: technically gifted, tenacious, wise beyond their years, and always willing to learn and grow.” With this new funding, the company is primed for the next phase of growth. The same way that AWS provided common infrastructure that every company building a web application would need as they scale, Recall.ai is setting out to provide the common infrastructure for every company who needs to access and apply AI to conversations. About Recall.ai Recall.ai provides a single API for accessing real-time meeting data from platforms like Zoom, Microsoft Teams, Google Meet, and more. Real-time meeting integrations require a lot of moving parts, so Recall.ai provides a unified framework that simplifies this process. Recall.ai makes it easy to trigger actions based on who is speaking, when people join or leave a meeting, and more, all with a single API for every platform which helps lower development time and upkeep costs. The API can be used with both audio and video streams, even for meeting platforms that do not have a publicly accessible API. About Ridge Ventures Founded in 2007, Ridge Ventures is a seed and early-stage venture capital firm investing in founders who are redefining how the world interacts with data and code. Ridge takes a fast, flexible, and founder-focused approach, and backs companies delivering advanced technologies, new distribution models, and incredible user experiences. Find out more at www.ridge.vc Contact Details Recall.ai Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.recall.ai/

May 16, 2024 09:00 AM Pacific Daylight Time

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Nextech3D.ai Enhances Revenue Streams Through AI-Driven 3D Model Marketplace

Nextech3D.AI

Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to announce significant enhancements to the company’s revenue streams through a strategic partnership with sister company Toggle3D. This collaboration introduces an innovative AI-driven marketplace featuring over 200,000 3D models, available for purchase in millions of colors and configurations, with prices ranging from $20 to $95 per model. Gappelberg explained that these models, which include a diverse array of 3D models, quad meshes, and parts, have been meticulously crafted over several years, generating millions in revenue for Nextech3D.ai. By leveraging Toggle3D.ai's advanced generative AI platform, Nextech3D.ai aims to significantly boost this revenue. The company expects a 30% royalty fee on sales through the Toggle3D.ai marketplace to further contribute to this growth. 3D models in e-commerce allow customers to visualize products in high detail from every angle, greatly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Additionally, interactive 3D models increase customer engagement, keeping them on the site longer, which directly correlates with increased sales. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com

May 16, 2024 10:46 AM Eastern Daylight Time

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Million Dollar Air-Mail NFT Drop on Base!

Plato AI

Nashville, Tennessee, May 16, 2024 - (PlatoAI) -- Roughly a month ago, NFT LA teamed up with NFT Punks to honor the memory of Michael Brooks, affectionately known as "The Rook." with a limited edition commemorative NFT celebrating his contributions sponsored by aivp.ai. This NFT drop became a landmark event, as it is the largest Air-mail NFT drop ever on the Base Chain, directly sent to our community via email. No wallet is required on your end, as one will be automatically generated for you through Horus Wallet. What happened next was absolutely unexpected! The NFTs started trading at 0.5 ETH each, putting the 823 NFT collection at 411.5 ETH with a value topping $1,200,000! If you are one of the lucky ones, simply visit https://horuswallet.com/, log in with your email, and a new wallet will be created for you, enabling you to claim the free NFT. In 2022, NFT LA was created to bring together the people who are at the foundation of creating the Web3 future. There is no time more important than now to inspire, connect, and educate each other and grow the Web3 future together. NFT LA was the place where we, as a community, do exactly that. NFT Punks was established to think differently and bring utility to NFTs, we believe that blockchain is all about community. Source: Plato Data Intelligence Contact Details Bryan Feinberg +1 551-574-2169

May 16, 2024 08:40 AM Eastern Daylight Time

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U.S. Gold Achieves Milestone with Surface Mine Permit for CK Gold Project

US Gold Corp

U.S. Gold CEO George Bee Corp joined Steve Darling from Proactive to reveal a significant achievement for the company's CK Gold project as the Wyoming Department of Environmental Quality issued its surface gold mine permit. This milestone allows U.S. Gold to resume work on a prefeasibility study, marking a pivotal step forward in project development. With the mine operating permit secured, U.S. Gold is advancing its feasibility study, with substantial progress already made in process plant design and equipment procurement. The company aims to update the prefeasibility study by the third quarter of 2024 and subsequently finalize the feasibility study, incorporating project upside opportunities. Bee emphasized that the project is nearing completion of remaining conditions, including the approval of the reclamation bond, which is already submitted. Additionally, the Wyoming Pollutant Discharge Elimination System permitting process is in its final stages, and technical work for WDEQ Air Quality Division permits is under review. U.S. Gold anticipates receiving the necessary permits by mid-year, aligning with prior guidance and further advancing the CK Gold project toward production. Contact Details Proactive Canada +1 604-688-8158 action@proactiveinvestors.com

May 15, 2024 01:14 PM Eastern Daylight Time

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Contractor+ Is Leveling The Playing Field, Turning The Construction Industry On Its Head With Its Potentially Game-Changing AI-Driven App

Benzinga

By Meg Flippin, Benzinga Contractors play an important role in construction, but when it comes to scaling, many struggle to do more than $2 million in annual sales. A lack of technology is a big reason. Providing estimates, managing customers and handling billing manually can be time-consuming and cumbersome. High pricing is another problem. Finding good workers amid a shortage and solid leads can prove difficult and expensive. Furthermore, network-level collaboration has been largely absent in the contractor space so far. Such factors can put contractors in the U.S. at a disadvantage, seeing the growing demand for their services. The construction market is big and growing, requiring contractors to get the work done. As of 2023, the global construction market size was $13.57 trillion. By 2032, it’s projected to reach $23.92 trillion, growing at a CAGR of 6.5% between now and 2032. To take advantage of that growth, contractors need an upgrade, and Contractor+ believes it can provide that through its AI-driven platform that enables contractors to control every aspect of their business from a mobile app. Leveling The Playing Field For All Contractors The idea behind Contractor+, the brainchild of CEO Justin Smith and CTO Roshan Sethia, is to level the playing field for contractors who may lack technological know-how or have financial constraints — factors that could be preventing them from growing. The company supports growth by giving small and medium businesses access to the tools that can improve quality, automate processes, enhance efficiency and productivity and streamline the process from estimate to completion of the job. That in turn also frees up contractors to do more work and bring in more money. “Our platform is more than a tool; it's a bridge connecting contractors to the digital era, empowering them with technology that was once out of reach,” the company said in its pitch to investors. “The construction industry, historically slow to adopt technology and sensitive to high prices, finds a haven in Contractor+, where next-level efficiency meets affordability.” At the heart of its platform is patent-pending AI that lets contractors transform hours of work into minutes using automation. The app comes with highly flexible and powerful estimation tools, collaboration tools so all parties involved in the project can see what stage it’s at, a website to generate leads and the ability to process payments through the app. On one dashboard, customers see the number of active jobs, estimates, invoices, leads, payments and expenses, as well as a list of current actionable items, the day’s schedule and gross revenue. No more sifting through paper-based invoices and notes jotted down to manage schedules, timelines and payments – it’s all done through one mobile app. Click here to learn more about how Contractor+ is leveling the playing field for contractors. Proof Is In The Growth Around since January 2020, Contractor+ has been making a name for itself in the industry, boasting 75,000 home improvement projects successfully managed via its app, more than 800 paying businesses using the app and a fast-growing community of 5,500 monthly active users. This has translated into year-over-year topline growth of 122%, with the company pegging its total addressable market at $60 billion. Its monthly recurring revenue is targeted to hit $53,000 in 2024, $175,000 by the end of 2025 and $535,000 through 2028. Contractor+ is forecasting annual revenue to reach $22.2 million, gross margins to hit 75% and net margin to be at 33% by 2028. But it’s not just subscriptions Contractor+ is relying on to drive sales and growth. It envisions creating a wide-reaching community in which it can sell, support and provide leads for everything from insurance to referrals. “Our vision extends beyond market capture; it's about market expansion through a collaborative marketplace that not only addresses current needs but also anticipates future demands​​​​,” says Contractor+. Seize The Moment Investors seem to agree so far. Since launching its capital fundraising campaign, Contractor+ has raised $255,000 from 129 investors, more than halfway to its goal of raising $430,000. It previously raised $90,000 from angel investors, including executives from Alphabet Inc.’s (NASDAQ: GOOG) Google, Meta Platforms Inc. (NASDAQ: META), Intel Corp. (NASDAQ: INTC), Amazon.com Inc. (NASDAQ: AMZN) and CACI International Inc. (NYSE: CACI). Hemdeep Dulthummon, a principal at Optiscale Ventures and lead syndicate on this fundraising round said he is confident in the startup’s ability to grow. Dulthummon believes that even capturing just a small share of the market can propel Contractor+ to a $100 million valuation. “Contractor+ offers compelling value propositions to its target customers. The platform's tools deliver significant benefits at a low cost, translating to high ROI and minimal barriers to entry,” says Dulthummon. Ideally, the company wants to raise a total of $1.5 million to supercharge its platform, potentially dominate the market and stand out from rivals servicing contractors. The construction industry is late to the technology party, with countless contractors relying on manual, time-consuming processes to give estimates, manage projects and accept payments. Contractor+ is turning that on its head, leveling the playing field for even the smallest contractor. Interested in getting in on this ground-breaking startup before it takes off? Click here to learn more and invest today. Featured photo by Theme Photos on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 15, 2024 08:45 AM Eastern Daylight Time

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AI Data Center Power Requirements Increasing Demand For Critical Materials Like Copper And Uranium

Benzinga

By Kyle Anthony Artificial intelligence (AI) has proliferated rapidly, and this has had consequences for energy consumption. Some technology firms are securing their own clean energy sources to power their data centers–especially to identify new, sustainable and long-term ones. The Energy Consumption Of AI And Data Centers As AI adoption and advancement continue to accelerate, the demand for electrical power to sustain data centers, which support cloud computing, big data processing and AI algorithms, is also on the rise. As reported by S&P Global Commodity Insight, in 2022, global power consumption from data centers was approximately 460 Terawatt hour (TWh). That could double by 2026 to more than 1,000 TWh, roughly equal to Japan's total electricity use. With the creation and usage of generative AI tools across many industries, hyperscale data centers – a specialized category of data center designed to power immense amounts of digital information and computational tasks – have become a central focus. In the U.S., research conducted by Boston Consulting Group states that growth in demand for data center services, particularly for generative AI, is driving up power usage and density. Data center electricity consumption was 2.5% of the U.S. total (~130 TWh) in 2022 and is expected to triple to 7.5% (~390 TWh) by 2030. Given the significant amount of energy required to power generative AI models, many companies are pivoting toward, if not building, data centers that run on sustainable energy sources. Using Current And New Sustainable Energy Sources Recognizing the high energy requirements for data centers, big tech firms such as Amazon.com Inc (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOG), and Microsoft Corp (NASDAQ: MSFT) are among the first to explore using sustainable energy sources, including wind and solar, to power their business operations, such as data centers. For example, Amazon has committed to matching all the electricity used to power its operations with 100% renewable energy and is on track to meet said goal by 2025. The firm recently entered into a power purchase agreement with Scottish Power Renewables, one of the world’s largest clean energy companies. The new agreement will see the company purchase a portion of the 1.4 GW of clean electricity generated by East Anglia THREE, Scottish Power Renewables’ biggest ever offshore wind farm and the second largest in the world when it comes into operation in 2026. While using sustainable energy will alleviate existing demands on the electricity grid, the intermittent nature of solar and wind energy is a challenge. As such, firms are now exploring nuclear energy as a viable power source. Microsoft, OpenAI’s partner and largest investor, believes nuclear power can help fulfill its massive electricity needs as it ventures further into artificial intelligence and supercomputing. Recently, the firm hired Erin Henderson, PhD, MBA, PMP, as the director of nuclear development acceleration, to devise a global strategy for small modular reactors and microreactors to power Microsoft's data centers. Small modular reactors (SMRs) are advanced nuclear reactors with a power capacity of up to 300 Megawatts electric (MW(e)) per unit, about one-third of the generation capacity of traditional nuclear power reactors. SMRs can produce a large amount of low-carbon electricity. Gaining Exposure To The Energy Transition Resources As big tech firms find different avenues to power their data centers, there will be increased demand for the critical minerals needed to generate, transmit and store cleaner energy. For investors, this presents an opportunity, as having material exposure to these essential resources allows them to benefit from the gradual price appreciation that will likely occur. Sprott Copper Miners ETF Copper’s exceptional electrical conductivity and contribution to energy efficiency make it a critical element in energy transmission. It’s broad market demand and versatility in use across many industries have historically positioned its price as a gauge of the global economy. As the global economy moves toward decarbonization and electrification, emerging clean-energy technologies require significantly more copper than traditional systems. For investors looking to gain exposure to copper, the Sprott Copper Miners ETF (NASDAQ: COPP) provides pure-play exposure to large-, mid- and small-cap copper mining companies that are providing a critical mineral necessary for the clean energy transition. Copper’s exceptional electrical conductivity and contribution to energy efficiency make it essential to energy transmission. Copper is indispensable across a wide spectrum of applications, from powering energy grids and essential components of clean energy technologies to being a fundamental element in virtually every electronic device. The ETF tracks the Nasdaq Sprott Copper Miners™ Index, which reflects a broad universe of global securities in the copper industry, including copper producers, developers and explorers. Sprott Uranium Miners ETF The growing demand for energy globally and the need to move away from fossil fuels is setting the stage for nuclear power. For a national, state or local utility, the appeal of nuclear power starts with its reliability, as the sometimes intermittent nature of solar and wind energy can affect its dependability in long-term power generation. Regarding safety, nuclear power plants have advanced in recent decades and the technology has evolved so that plants operate and maintain reactors more efficiently. This translates to fewer, shorter disruptions in the reactors’ consistent electrical power production. Finally, nuclear power is clean, as it generates the lowest greenhouse gasses of any power source. Essential to nuclear energy is uranium, a very heavy metal that can be used as an abundant source of concentrated energy for nuclear reactors. The Sprott Uranium Miners ETF (NYSEARCA: URNM) provides investors with exposure to companies that devote at least 50% of their assets to the uranium mining industry, which may include mining, exploration, development, and production of uranium, or holding physical uranium, owning uranium royalties, or engaging in other, non-mining activities that support the uranium mining industry, by tracking the North Shore Global Uranium Mining Index. A Timely Opportunity As technology increases power demand and we also move toward decarbonization, the value of the critical materials required for energy production and transmission may grow over time. For investors, gaining exposure to companies well-positioned to benefit from the increased investment in the critical minerals needed for clean energy is a timely opportunity that can reap benefits for the future. Featured photo by Anthony Indraus on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 15, 2024 08:25 AM Eastern Daylight Time

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Graphite and Critical Mineral Mining Boosted by $72B Fund

Graphite One Inc

The Biden administration has clarified that mining projects focused on extracting critical minerals like graphite, lithium, and cobalt are eligible for federal loan guarantees worth $72 billion. This announcement aims to support the domestic mining sector and strengthen energy and supply chains. This is welcome news to companies like Graphite One Inc (TSX-V: GPH) (OTCQX: GPHOF) which is actively addressing the domestic graphite supply shortfall in a bid to support the technology revolution. Graphite One (G1) is advancing the development of the largest graphite deposits in the United States. It has already secured two major grants from the US Department of Defense (DoD) and aims to establish a vertically integrated enterprise that mines, processes, and produces anode materials, mainly for the US lithium-ion EV battery market. To be eligible for a loan guarantee under Title 17, a project must be energy-related and located within the United States, including its territories. It must also demonstrate the ability to significantly reduce, utilize, or sequester greenhouse gases and air pollutants. The technology used should be commercially viable, and the project should have a credible repayment plan. Additionally, the application must include a community benefits analysis. Graphite One ticks the main boxes for this type of support and obtaining a loan guarantee would be a significant catalyst for the company to accelerate its graphite project. Access to additional financial backing would enable Graphite One to quickly advance its operations, boosting its role in establishing a secure domestic graphite supply chain. The Department of Energy has emphasized the need for increased mining activity due to China's dominance in this industry and the growing demand for critical minerals. The concentration of supply chains in a few countries, particularly China, poses risks and challenges for investors, businesses, and the United States as a whole. These risks include economic vulnerability, weakened energy security, and reliance on precarious foreign sources that may not adhere to high environmental or labor standards. To address these issues, the Biden administration encourages further mining exploration and development within the United States. Graphite One Inc. (TSX-V: GPH) (OTCQX: GPHOF) is strategically positioning itself to meet the surging demand for graphite, a key component in lithium-ion batteries and various technological manufacturing processes. As the adoption of lithium-ion batteries gains momentum, the demand for graphite is expected to see a dramatic increase, with projections of a 494% growth of the graphite market by 2050. The Graphite One project, being the Graphite Creek Property, includes plans for an anticipated manufacturing plant for graphite materials and battery anodes, as well as a recycling facility to recover graphite and other battery components. These facilities will be situated in Ohio and will be integrated with the development of the Graphite Creek Property in Alaska. The United States, which currently relies entirely on imports for its graphite needs, views the Graphite Creek Property as a vital solution. G1 has received considerable funding from the DoD, and its Graphite Creek project is designed to produce large amounts of battery-grade graphite to help fill a significant gap in national defense reserves. A feasibility study is currently anticipated to be completed by the end of the year 2024. Additionally, the company is working on developing a graphite and graphene-based foam fire suppressant, positioned as a safer alternative to PFAS fire-suppressant materials, in compliance with U.S. regulations. It is believed considerable effort by Senator Lisa Murkowski of Alaska, including legislation she authored, contributed to the availability of the $72 billion loan. The U.S. Department of Energy (DOE) has since updated its Title 17 loan guarantee program guidelines to include eligibility for U.S. mines that produce critical minerals. This adjustment allows these projects to access low-cost financing to boost domestic production and reduce reliance on imported minerals. Furthermore, Senator Murkowski has also publicly declared her support for Graphite One’s business plan in the past. Graphite is counted among the official US Government-listed Critical Minerals that require secure supply lines, positioning Graphite One as a strong candidate for eligibility under this federal loan guarantee program. The Graphite Creek Property, managed by G1, features the largest known natural flake graphite deposit in the U.S., encompassing 176 mining claims across over 23,600 acres. Last year, the United States Geological Survey recognized it as one of the world's largest graphite deposits. The Biden administration's decision to support mining projects for critical minerals emphasizes its commitment to revitalizing the domestic mining industry. It’s expected the DOE's new stance will enhance national security and economic stability by supporting responsible mineral extraction that adheres to stringent environmental and labor standards. Investing in critical mineral mining contributes to long-term resource security for the United States. By boosting domestic mining capabilities, investors can help secure a stable supply of critical minerals, reducing dependence on foreign countries like China. This enhances national economic stability and reduces potential risks associated with supply chain disruptions. Learn all about Graphite One and its plans to solidify a US graphite supply with an all-American battery materials supply chain solution. IMPORTANT NOTICE AND DISCLAIMER PAID ADVERTISEMENT This communication is a paid advertisement. 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May 15, 2024 07:00 AM Eastern Daylight Time

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DHH Compressor Announces Groundbreaking All-in-One Screw Compressor for Laser Cutting

Rev Up Marketers

In a move set to revolutionize the laser cutting industry, DHH Compressor has unveiled its latest innovation: DEHAHA All-in-One Screw Compressor for laser cutting. This pioneering advancement marks a significant leap forward in efficiency, reliability, and convenience for businesses operating in the realm of laser cutting technology. The collaboration between DHH Compressor and laser cutting machine manufacturers comes at a critical juncture, as demand for precision cutting continues to soar across various sectors, from automotive manufacturing to aerospace engineering. With the unveiling of this groundbreaking compressor, DHH Compressor aims to redefine the standards of performance and productivity in laser cutting operations worldwide. Redefining Efficiency and Reliability The All-in-One Screw Compressor by DHH Compressor, with the power range from 7.5kW- 90kW, represents the pinnacle of engineering excellence, integrating cutting-edge technology with unparalleled efficiency and reliability. Designed specifically to meet the demanding requirements of laser cutting applications, this compressor offers a comprehensive solution that streamlines operations and maximizes productivity. Equipped with advanced screw compressor technology, the All-in-One unit delivers consistent and reliable airflow, ensuring optimal performance throughout the laser cutting process. Its innovative design minimizes energy consumption while maximizing output, resulting in significant cost savings for businesses and reducing their environmental footprint. Unprecedented Convenience and Versatility One of the key highlights of the All-in-One Screw Compressor is its unprecedented level of convenience and versatility. Unlike traditional compressor systems that require separate components for air compression, drying, and filtration, this integrated solution combines all essential functions into a single, compact unit. This streamlined design not only saves valuable floor space but also simplifies installation and maintenance, allowing businesses to focus on their core operations without the hassle of managing multiple components. Whether it's a small-scale workshop or a large-scale industrial facility, the All-in-One Screw Compressor offers unparalleled flexibility to meet the diverse needs of laser cutting applications. Empowering Growth and Innovation The introduction of the All-in-One Air Compressor underscores DHH Compressor's commitment to driving growth and innovation within the laser cutting industry. By providing businesses with a comprehensive solution that enhances efficiency, reliability, and convenience, DHH Compressor aims to empower them to achieve new levels of success and competitiveness in the global market. Furthermore, this innovative compressor opens up new possibilities for businesses to explore emerging trends and technologies in laser cutting, such as automation, robotics, and artificial intelligence. With a reliable and efficient air supply system in place, businesses can unleash their creativity and push the boundaries of what's possible in laser cutting applications. DHH Compressor Jiangsu Co., Ltd. continues its commitment to innovation, sustainability, and customer satisfaction, reinforcing its position as a global leader in the air compressor industry. For more information about DHH Compressor Jiangsu and its products, visit dhhcompressors.com. DHH Compressor Jiangsu Co., Ltd was established in 1996 and has 28 years of experience in the air compressor industry. It is an innovative factory that integrates production, trade, service, research, and development. The company focuses on researching, developing, and manufacturing screw air compressors with the world's newest energy-saving and intelligent internet information system, utilizing the industry's top technology and elite engineering team. Contact Details DHH Compressor Jiangsu Co., Ltd. Jerry Zhang info@dhhcompressors.com Company Website https://dhhcompressors.com/

May 15, 2024 03:18 AM Eastern Daylight Time

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