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HELLA Celebrates 125th Anniversary at SEMA 2024

Hella

Legendary German lighting specialist HELLA is racing into Central Hall at SEMA 2024 to celebrate 125 years at the forefront of performance and off-road lighting technology. It will be joined by Jimco Racing – itself celebrating 50 years in the dirt – to debut its newly developed 1-2/1600 Class Buggy fitted with the latest and greatest HELLA products in SEMA booth #23335 in Central Hall. As an additional treat, HELLA and Jimco will display a Spec Trophy Truck. Parked outside Central Hall, the off-road beast will also showcase the latest HELLA products. And parked alongside the Trophy Truck will be the Rotek Racing Porsche 718 Cayman GT4 RS Clubsport, which claimed multiple 2024 SRO Pirelli GT4 championships with HELLA illuminating the way. HELLA CELEBRATES 125 Founded in 1899, HELLA is one of the oldest automotive accessories suppliers in the world. Known for its unrivalled German engineering and top quality lighting built to OE standards, the company has operated as a brand in North America for more than 40 years. While vehicle original equipment, off-road and performance lighting will always illuminate its path, HELLA has diversified its portfolio over the decades into categories such as brakes, sensors, engine management and more. The company continues to set the bar for safety, visibility, and performance, specifically in the off-road and performance markets where the HELLA brand is legendary. While HELLA has continued to reinforce its reputation as a trusted off-road partner, it has also increased activity at off-road and motorsports events to leverage its strong brand equity and introduce new technology. Located in SEMA booth #23335 in Central Hall, HELLA will be highlighting a number of cutting-edge products including HELLA Blade LED lights, Black Magic light bars, X-Treme LED cube lights, and the new HELLA Lift Kits. "HELLA has always been about more than just lighting; it's about telling a story,” said Rob Tinson, Vice President of Sales and Marketing for HELLA. “When you equip your vehicle with HELLA, you elevate your ride to a true expression of adventure, precision, quality and individuality. Our passion for continuing the brand’s legacy extends to our partnerships, which help showcase the HELLA story. We value both their professional input with our products and enjoy their successes. The team at Rotek Racing drove the HELLA-sponsored Porsche GT4 RS to Championship victories this season. Our connection to Robb Holand and the Rotek team not only displays prominent HELLA branding at races but solidifies our reputation as a premium supplier of several automotive parts for Porsche, including lighting. And the top off-road builders at Jimco Racing demand the best in terms of safety and performance, specifically their need for the best products available. The company’s legacy is unmatched and has developed loyalty around quality and performance like HELLA. These collaborations reflect our commitment to excellence, evolution, and innovation. A Legend is Reborn at HELLA.” Full information on the latest HELLA products is available at hella.com and myhellalights.com JIMCO 1600 CLASS BUGGY As one of the leading off-road experts, Jimco Racing celebrates 50 years as one of the sport’s premier builders with the launch of its all-new 1-2/1600 Desert Buggy. Intended to complement its existing range of racing vehicles while returning the company’s Limited Class roots, the innovative Jimco N-spec two-seat chassis was designed to offer racers a more affordable way to eat dirt. The custom chassis will be powered by a proven1600cc Volkswagen air-cooled powerplant from Jimenez Racing Engines and mated to a modified Volkswagen gearbox built by California Performance Transmission. Equipped with Fox Shox and ProAM hubs to mount the Method Wheels with BFGoodrich tires, the combination will help the driver maintain control in the toughest conditions. Among the most essential equipment for any desert racer is lighting, and HELLA has provided a suite of its latest technology including its Black Magic Tough Double Row Curved light bar, 6" HELLA Blade lights and HELLA X-treme 4.3" LED lights. With this cutting edge technology, the team is able to follow the trail on even the darkest nights. Debuting in the HELLA booth #23335 in Central Hall at SEMA 2024, the Jimco 1-2/1600 Class Buggy is one of the most affordable entries into the competitive and exciting world of off-road racing, created by the company named “Builder of the Year” by SCORE International a record 25 times. Jimco representatives will be available throughout the show to discuss vehicle specifics with show attendees. JIMCO SPEC TROPHY TRUCK Powered by a Chevrolet 525 RLB crate engine with RDE T400 transmission and Fortin underdrive, the truck rides on Fox Shox and bump stops with a Gearworks 10” third Member. Rolling stock again features 17” Method Wheels and 40” BFG Baja T/A tires for maximum traction. Illuminating its path are a host of HELLA lighting products, including the Black Magic Tough Double Row Curved light bar above the windshield aperture, plus a total of seven 6" HELLA Blade lights on the front bumper. For crew use, there are HELLA X-treme 4.3" LED lights mounted on the B-pillars, while a Black Magic Tough Single Row light bar has been fitted to the rear as a chase light. The HELLA / Jimco Racing Spec Trophy Truck can be found outside Central Hall in display spot V018. “It’s been great to work with HELLA with its incredible motorsports legacy,” said Rafael Navarro IV from Jimco Racing. “Not only does HELLA have an incredible history in off-road racing, but it’s also at the cutting edge of the sport with its newest innovation and technology. At Jimco, we’re stoked to work with brands that have the same thirst to stay ahead of the competition. As a partner, HELLA can help us maintain our position as a fortress brand in the off-road world where we’re engineering and building platforms that are out front, winning races,” he continued. “We’re especially excited to reveal our new 1600, which was in final assembly during the days leading up to SEMA. Now completed, we’re looking forward to seeing both vehicles decked out in the iconic HELLA livery and on display at the show!” ROTEK RACING PORSCHE 718 CAYMAN GT4 RS CLUBSPORT HELLA partnered with Rotek Racing in 2022 and this year the team swept the board in both the Pirelli GT America and GT4 America road racing championships. The team uses Porsche factory built and prepared Cayman GT4 RS Clubsport cars, which clearly gave them an advantage this year. In fact, Rotek won a total of four championships, taking the driver and team titles in both classes. Isaac Sherman drove in GT America and scored 13 wins plus three podiums, while Robb Holland and Jaden Lander secured four wins and two additional podiums to claim the GT4 honors. The championship-winning Rotek Racing Porsche 718 Cayman GT4 RS Clubsport can be found outside Central Hall in display spot V017. PHOTOGRAPHY Vehicle photography is available here: dropbox.com/scl/fo/ua3l62ddiogh6m5m4djtm/ACqTI0oas5d3HEgoYKiyJO0?rlkey=vxlj8za1oz80jnoeipdjwsccr&st=umxxfr19&dl=0 ABOUT FORVIA HELLA FORVIA HELLA is a listed, internationally positioned automotive supplier. As a company of the FORVIA Group, FORVIA HELLA stands for high-performance lighting technology as well as vehicle electronics and covers a broad service and product portfolio for the spare parts and workshop business as well as for manufacturers of special vehicles with its Lifecycle Solutions business group. With currently around 37,500 employees at over 125 locations, the Company is active worldwide and achieved adjusted sales of €8.1 billion in the fiscal year 2023 on a preliminary basis.. hella.com ABOUT FORVIA FORVIA combines the technological and industrial strengths of Faurecia and HELLA, which complement each other perfectly. With over 300 industrial sites and 76 R&D centers, 157,000 employees, including more than 15,000 R&D engineers, in over 40 countries, FORVIA offers a unique and comprehensive approach to the automotive challenges of today and tomorrow. FORVIA consists of six business groups with 24 product lines and a strong portfolio with over 14,000 patents. FORVIA endeavors to become the preferred innovation and integration partner for OEMs worldwide. FORVIA has set itself the goal of recognizing the changes in mobility at an early stage and putting them into practice. forvia.com Contact Details Forvia Hella Pablo Segura Sanchez pablo.sanchezsegura@forvia.com Forvia Hella Daniel Morfeld +49 2941 387566 daniel.morfeld@forvia.com Company Website http://www.hella.com/

November 04, 2024 06:05 AM Pacific Standard Time

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Better Trucks Adds 4.6 Million Households with New England Delivery Expansion

Better Trucks

Better Trucks, a technology-driven logistics firm focused on rapid parcel delivery, now delivers to millions of households in Boston and greater New England. Shippers are already utilizing this additional service area that is made possible through Better Trucks’ partnership with Optima Overnight. Better Trucks’ delivery area now reaches 139 million people and over 40% of U.S. households from coast to coast. “Our current clients as well as prospects have asked for service in New England, and our open technology platform made it easy to expand our partner network in time for peak season,” said Josh Fredman, Better Trucks Senior Vice President of Commercial and Growth. “Optima is a tech-forward carrier that shares our commitment to deliver on-time with full transparency to shippers and make their customers happy.” The partnership adds more than 1,000 new zip codes to Better Trucks’ footprint in Massachusetts, Connecticut, New Hampshire, and Rhode Island. “Boston is a key market where we now add more choices for shippers. Our current clients have expressed great interest in diversifying their carriers there,” added Fredman. “Our partnership with Better Trucks adds volume to densify our operations, and opens a path for our clients to expand to Better Trucks vast coverage across the country,” said Len Braudis, Optima Overnight, President. “The smooth tech integration allowed us to operationalize this partnership in record time.” The bilateral partnership allows Better Trucks’ clients to ship to New England with a seamless experience, utilizing a Better Trucks label with last-mile delivery fulfilled by Optima. Similarly, Optima clients have the same option with fulfillment by Better Trucks in its footprint. About Better Trucks Better Trucks is a technology-driven, last-mile delivery carrier built for digital commerce. Founded in 2019, it delivers a better experience for retailers, e-commerce firms, and fulfillment centers to ship parcels faster with better communication and better value. Specializing in next-day and two-day deliveries, Better Trucks sorts and labels packages within its strategically-placed warehouses and delivers them through its extensive driver network. Visit bettertrucks.com for more information. About Optima Overnight Optima specializes in serving direct-to-consumer, e-commerce businesses, along with medical and traditional courier clients by focusing on efficient last-mile delivery solutions. Through its robust logistical network, Optima provides scheduled route services for industries such as libraries and banks; and offers last-mile distribution for major brands. By leveraging advanced technology, Optima helps mid-sized to large shippers optimize their operations, improving transit times, reducing costs, and enhancing shipment visibility. Clients working with Optima benefit from accurate delivery information, real-time tracking, and transparent communication. Optima’s technology, powered by Beans.ai, ensures operational efficiency and reliable service. For businesses looking for cost-effective alternatives to traditional providers like UPS and FedEx, Optima offers a scalable solution that drives efficiency without compromising service quality. Contact Details For Better Trucks John Hall +1 303-223-6965 john@hallwaycommunications.com Company Website https://www.bettertrucks.com/

November 04, 2024 08:01 AM Central Standard Time

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From Inking Multiple Deals To Record Revenue Growth, U Power Had A Busy First Half Of 2024

Benzinga

By Meg Flippin, Benzinga U Power Limited (NASDAQ: UCAR), the Chinese EV power solution company making a name for itself thanks to its advanced UOTTA technology, shared a financial update for the first half of 2024, with revenue growing 595.7% year-over-year to RMB13.2 million. U Power attributes that growth to increased usage from existing and new customers as the economy in China continues to recover following the COVID-19 pandemic. U Power’s UOTTA technology enables consumers and fleet operators to replace dead EV batteries with fully charged ones in under five minutes. The company also offers companies a battery-swapping ecosystem from building the infrastructure to managing it. “We've been successful in transforming our vehicle sourcing business to provide EV battery power solutions in China,” said Jia Li, Chief Executive Officer and Chairman of U Power. “We believe that this shift has enhanced our competitiveness, and we expect it to expand our future revenue growth potential." Revenue Shifts To Product Sales Of the RMB13.2 million in revenue U Power earned during the first half of 2024, 93.9% came from product sales. In the year-ago first half, U Power had no product revenue. U Power said that positive change was thanks to the improving economy, which enabled it to sell more battery stations. Meanwhile, sourcing services revenue of RMB0.1 million was down 0.6% year-over-year. However, U Power confirmed that was because the company focused more on its charging and swapping-related products. Meanwhile, battery-swapping services revenue of RMB0.7 million was up year-over-year from RMB0.5 million, driven by the deployment of U Power’s second battery-swapping station, which went live in March 2023 and remains operational. As of March 2023, U Power had a vehicle sourcing network of about 100 wholesalers and 30 dealers across China’s lower-tier cities. Last year it sold and delivered six battery-swapping stations to four customers. All told it has already sold eleven battery-swapping stations. "Our financial results for the first half of fiscal year 2024 demonstrate our commitment to responsible financial management while simultaneously making strategic investments for our future growth,” said Bingyi Zhao, Chief Financial Officer of U Power. “Our R&D expenses decreased as we have successfully completed several key projects, and we remain committed to innovation and have strategically allocated resources to new and high-potential research initiatives. Our improved credit management practices have yielded positive results, as we generated an expected gain on credit of RMB0.5 million in the first half, compared to a loss in the same period last year.” U Power ended the first half with RMB40.5 million in cash and cash equivalents, up from RMB36.2 million at the end of 2023. Deal Making On Display In addition to reporting record revenue in the first six months of the year, U Power inked deals that give it inroads into other geographies. Take its deal with Velo Labs Technology Ltd., the global fintech company for starters. In August, the two entered into a memorandum of understanding to establish a battery infrastructure investment ecosystem in Thailand. The idea is to create a battery bank asset and fund trading platform based on Velo’s blockchain technology. Through the platform, U Power and Velo Labs hope to attract external funding to promote the large-scale development of the battery bank industry. A battery bank is a collection of batteries that are connected and store energy together. The collaboration’s idea is to create battery bank stations for EVs around the country where drivers quickly swap out dead batteries for new ones. The trading platform would integrate battery assets from various UOTTA battery bank scenarios, including batteries for four-wheel and two-wheel electric vehicles, batteries from various battery swap stations and batteries used in energy storage projects. Prior to that deal, U Power signed a memorandum of understanding with Pattaya AI Terminal Co., Ltd. to jointly drive the strategic development of green logistics and electric vehicle infrastructure in Thailand. Another key deal for U Power is its deal with UNEX, which was also inked during the first half of the year. Through the partnership, the two will provide battery-swapping vehicles and swapping station services to Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros (ANTRAL). ANTRAL is an association of companies in Portugal, representing public passenger road transport companies operating light vehicles designated as taxis. Through their collaboration, UNEX and ANTRAL aim to significantly reduce greenhouse gas emissions in the transport sector by 2030, in line with the European Union's decarbonization targets and Portugal’s regulatory requirements for taxi vehicles. “We believe we are well-positioned with the necessary working capital and strong foundation to support our growth plans, including the launch of operations in multiple international markets, and we are confident in the current financial state of the business,” said Zhao. Featured photo by Denys Nevozhai 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 not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 30, 2024 08:45 AM Eastern Daylight Time

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Avenue Z Launches New Public Affairs Practice to Help Clients Navigate Complexities of Modern Advocacy

Avenue Z

Avenue Z, a media and technology company, today announced the launch of its Public Affairs Group, a multidisciplinary, strategic practice designed to shape client outcomes in public and private advocacy, shareholder activism and ESG, philanthropy and civil society, and regulatory environments. In response to the growing power and control from big media companies and tech companies, Avenue Z’s new Public Affairs Group leverages a blend of communications, media, creative, and technology to affect meaningful change. The company’s approach supports clients to achieve consensus and desired outcomes by connecting highly targeted content to the right audiences at the right time, building trust. “The way the public is gaining information and forming perspectives has changed, and organizations need to engage their audiences across all channels in new ways,” said Nneka Etoniru, Avenue Z’s EVP of Global Brand Strategy and lead of the new Public Affairs Group. “Our solutions are uniquely positioned to help clients achieve lasting influence by guiding them through critical moments, enhancing their public image, and accomplishing their goals.” “Making a quantifiable impact in public affairs, akin to brand marketing or reputation management, requires both human and technology-informed approach,” said Jeffrey Herzog, Avenue Z founder and CEO. “Our strength lies in blending storytelling, media, and data to create influential connections across channels - from the Wall Street Journal to TikTok." Avenue Z’s Public Affairs practice is tailored to serve a diverse range of clients, including: Private Sector: Helping corporations gain consensus among decision-makers and standard bearers, secure contracts and public-private partnerships, and win necessary approval. Public Sector: Assisting municipal, state, and federal agencies with raising awareness, launching public health initiatives, combatting electoral misinformation, and developing educational campaigns across demographics. High-Profile Public Figures: Assisting in navigating public opinion, counter-influencing harassment campaigns, managing crises, and curating strategically engaging online conversations to protect their reputation. Charities and Philanthropies: Supporting non-profits in raising funds, advancing agendas, enhancing prestige, and navigating challenges to maximize organizational impact. Trade Organizations and Industry Groups: Helping industry-specific organizations advocate for their members' interests, inform external audiences on policy impact, and shape public perception of their industry. Along with the practice launch, Avenue Z has released an insightful trends report, offering a deep dive into the latest shifts shaping public policy and communication, helping organizations stay ahead of the curve. Public Affairs Trend Report 2024: Shaping Perception and Driving Outcomes in High-Stakes Environments covers trends impacting key sectors from healthcare to fintech, venture capital, emerging tech, manufacturing, and more. Read the full report, here. Avenue Z’s ability to lead high-stakes special situations is built on a foundation of expertise lasting more than 25 years. The company’s heritage dates back to 1998, when digital visionary and entrepreneur Jeffrey Herzog pioneered search engine marketing and later, sold iCrossing, his first digital media company, to Hearst Magazines for $450 million. Avenue Z is a media and technology company breaking traditional boundaries between marketing, advertising and PR to increase client revenue and elevate their reputation. From the Wall Street Journal to TikTok, PR to social and search, we create narratives that drive commerce, connections, and conversion, across all channels. With experts, tech and teams based in New York, Orlando, Miami and global reach - we drive influence. Visit www.avenuez.com Contact Details Avenue Z Rachael Zahn +1 407-637-2833 press@avenuez.com Company Website https://www.avenuez.com/

October 30, 2024 07:48 AM Eastern Daylight Time

Luftgekühlt Celebrates a Thrilling Tenth Anniversary and Closes Out an Epic 2024!

Luftgekuhlt

To celebrate ten years of the Luftgekühlt event series, focusing on the incredible air-cooled Porsche models and their rich history, the organizers ventured to realize their most ambitious plans to date and enjoyed tremendous success shared with tens of thousands of Porsche fans from around the world. For its tenth season, Luftgekühlt 10 returned to the site of its most memorable event to date to finish the story: Universal Studios Backlot. And The Sequel was even bigger and better than the original. The Luft 10 experience stretched more than a half-mile through the movie sets on the famous Backlot. It incorporated legendary movie locations such as the Court House from Back to the Future, the New York district, Western and Mexico regions, and an entire section that portrayed mid-century Europe. The locations provided the perfect backdrop for Luft’s creative team to present some of the finest air-cooled Porsche road and racing machinery, crafting photographic scenes from around the world. The incredible success of Luft 6 – when the series first took over the Universal Studios Backlot – paired with the promise of an all-new experience made Luft 10 the biggest and most epic event in its ten-year history. More visitors attended than ever before, eager to discover more than 400 cars on display, including a number of legendary “hero” cars strategically placed to provide the perfect photo opportunity. In addition to the main event, the Luftgekühlt team explored new territories in 2024. Taking the show across the Atlantic, they visited Wroclaw in Poland in June and Copenhagen in Denmark in September, recreating the elements that have made Luftgekühlt such a groundbreaking experience for North American audiences. Both European destinations were a huge success, reaching not only enthusiasts from Luft’s previous visits to Germany and the UK in 2018, but also introducing many new enthusiasts to the Porsche brand. A combination of curated “hero” cars, which included some from the Porsche Museum, and registered visitor display cars ensured visitors were exposed to an authentic Luftgekühlt experience on their doorstep. On a smaller scale, the Luft team supported the Porsche Brand Store’s Saturday Tunes event in Stuttgart, Germany on September 28, where a number of historic air-cooled cars were presented in Luftgekühlt style in the center of Porsche’s hometown. The team similarly joined the C hattanooga Motorcar Festival on October 11-13 to showcase a mix of legendary Porsche heritage and motorsport cars in celebration of CMF’s grand marshall; legendary Le Mans, Indycar and F1 driver, David Hobbs. This year, the spotlight fell on the iconic Porsche 935 K4-01 Hobbs drove in the 1982 IMSA GT class. David made a special appearance and joined a panel discussion hosted by Bob Varsha. The event also featured a curated display of enthusiast’s air-cooled Porsches. As if that wasn’t enough, one of the biggest adventures in 2024 for the Luft team was the introduction of its sister-brand, Air|Water. The first ever standalone event took place in Southern California in April after the show had previously existed as an extension of Luft 9 in San Francisco during 2023. While Luftgekühlt is dedicated to the early air-cooled Porsche models, Air|Water embraces both the air- and newer water-cooled Porsche models, allowing fans and owners of every Porsche model to attend and participate. With its inclusive model range and larger venue, Air|Water 2024 surprised visitors and organizers alike with its size and scope, promising a bright future for the new addition to the Luftgekühlt franchise. Throughout its ten years and rapid expansion, Luftgekühlt has been supported by a number of dedicated partners, which have shared the ride and helped make the growth possible. The entire Luft team, led by co-founder Patrick Long and Creative Director Jeff Zwart, would like to thank the partners, fans, followers and car owners for their shared belief; and invite everybody to continue the journey together. Planning for the 2025 season is well underway and the throttle will remain wide open as we race into the new year. More details will be released in due course but Luft fans can look forward to the Holiday Collection, which will be released next month. Sign up to the newsletter at luftgekuhlt.com for the latest updates. EDITOR’S NOTE Images from Luft 10 are available here: dropbox.com/scl/fo/f8dwtwu92d7rpvu9gg2c4/AFdsBxAne49pkofrKpwXkaw?rlkey=pm94tykbpkqyur1njkr8y5h2k&dl=0 Link to Luft 10 recap video: youtu.be/z8EilnSuNW8?si=VRGCDcSSv5D7JCNh ABOUT LUFTGEKÜHLT In the Porsche vernacular, Luftgekühlt represents all the air-cooled cars in the manufacturer’s history, from the Pre-A 356 through the 993 model line, which ended in 1998. A true Porsche happening, Luftgekühlt is an experiential car culture event centered around a tightly curated list of historically significant or interesting cars, both street and race. There is no set formula for our events, but we're excited by cool venues, fun people, and creative expression, so you can bet those elements will always be included. The team strives to develop wild ideas that celebrate the passion we have for all things air-cooled, including exciting collaborations with likeminded people and brands. For more information, visit luftgekuhlt.com ABOUT AIR|WATER From the creators of Luftgekühlt comes the largest single-brand automotive experience to hit Southern California. Embarking on a fresh format that traces Porsche's journey from its inaugural moments to the contemporary masterpieces and most cutting-edge examples of today. For more information, visit air-water.com Contact Details Media Contact media@luftgekuhlt.com Company Website https://luftgekuhlt.com/

October 29, 2024 06:05 AM Pacific Daylight Time

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Ohio Pension Funds Sue Boeing and Former Chairman Over Plane Failures

NLPC

Why is former Boeing Chairman Larry Kellner – who led the company’s governance oversight during last year’s infamous Alaska Airlines door plug blowout – now head of the safety committee on ExxonMobil’s board of directors? That’s what a shareholder in both companies – National Legal and Policy Center (NLPC) – is asking. And now two pension funds for the State of Ohio are demanding answers from Boeing and its board members (both current and former) about the devaluation of their investment. Attorney General Dave Yost announced Tuesday that he is suing the board of directors for the Washington, DC-based jet manufacturer, “seeking accountability for a pattern of safety and compliance failures that have harmed the company and its investors.” Yost is representing the Ohio Public Employees Retirement System and the State Teachers Retirement System of Ohio in the litigation, and accuses Boeing board members of breaching their fiduciary duties by failing to properly oversee the company. The lawsuit alleges the members knew “about the ongoing unsafe practices but even today fail to address them, choosing instead to prioritize profits over safety and regulatory compliance.” Among the defendants singled out by Yost is former Boeing chairman Kellner, who departed from the company under a cloud earlier this year, following the Alaska Airlines incident and other safety failures, in what CNN described as “a complete decapitation” of leadership. Among the allegations pointed out in the Ohio lawsuit about Kellner was that he: served on the board’s Aerospace Safety Committee since 2019; solicited votes from shareholders with other directors who “issued materially false or misleading statements with knowledge of their falsity or reckless disregard for their truth” in both 2023 and 2024; with other directors, “knowingly or with reckless disregard made false or misleading statements of material fact and omitted material information concerning the safety of Boeing’s airplane manufacturing…”; was opposed by proxy advisor Glass Lewis for re-election to the board in 2021 and 2022, “given his role as Audit Committee Chair during the [737] MAX Crashes” in Indonesia and Ethiopia. Yost summarizes the lawsuit against Boeing directors, including Kellner, by alleging they issued “false or misleading” statements “with knowing intent to deceive, manipulate, or defraud.” Yet today Kellner enjoys a soft landing on the board of directors for ExxonMobil, where he chairs the oil giant’s Environment, Safety and Public Policy Committee, with millions of dollars in stock awards and remuneration. This is after Boeing on Wednesday reported a third-quarter loss of more than $6 billion in the wake of the financial, reputational and litigation disaster left behind in the wake of Kellner’s failed leadership. “In the part of his career and experience which is supposed to highlight the majority of his credentials to serve in his current role on ExxonMobil’s board, Larry Kellner has been an unmitigated disaster,” said Paul Chesser, director of NLPC’s Corporate Integrity Project, an investor in both Boeing and ExxonMobil. “Exxon is not without safety and environmental failures in its history that have cost lives, injuries and destruction. How can it say with a straight face that Mr. Kellner is the best person to oversee the company’s environment and safety policies and practices?” Earlier this year in advance of ExxonMobil’s annual meeting, NLPC filed a proxy memo with the Securities and Exchange Commission, detailing Kellner’s shortcomings for the director role and asking fellow shareholders to oppose his candidacy for the board. NLPC also released a short video in May that highlighted Boeing’s mishaps under Kellner’s leadership. ### For more information or to schedule an interview with Paul Chesser, contact Dan Rene at 202-329-8357 or drene@nlpc.org. Please visit http://www.nlpc.org. Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

October 24, 2024 09:30 AM Eastern Daylight Time

The Reservoir Unveils the First On-Farm Robotics Incubators

Hawk Tower / The Reservoir

Today at FIRA USA 2024, the Reservoir announced the first-ever on-farm robotics incubators, Reservoir Farms, set to open in the Central and Salinas Valleys in early 2025. This pioneering initiative significantly shifts how agricultural technology innovates through real-world testing environments, world-class resources, and critical industry partnerships. California agriculture faces critical challenges, including labor availability and cost, import competition, increased regulation, water scarcity, and climate-related challenges, including extreme weather. These challenges have spurred significant advancements in agricultural precision, automation, mechanization, and robotics in recent years. Despite advancements, early-stage agtech projects lack critical ecosystem support, like connecting directly with growers, testing and validating their solutions, and accessing dedicated shop space and farmland. These gaps hinder capital efficiency and the development of critical solutions that meet the agricultural sector's needs. Initial projects at the incubators will focus on early-stage agricultural innovations in automation and robotics, including rovers and drones, that accelerate the development of breakthrough solutions to the opportunities and imperatives faced by California farms producing high-value specialty crops, such as labor shortages, profitability, and adopting climate-smart technologies. Western Growers Association, a key advocate for advancing agricultural innovation, will provide financial and operational support as an anchor partner. Anchor educational partners like UC ANR, Hartnell College, and Merced College will play a crucial role in innovation and workforce development, preparing the next generation of agricultural researchers, professionals, and innovators to drive the future of farming in California. HawkTower, a venture capital firm investing in early-stage startups developing breakthrough innovations for California’s environmental and industrial imperatives, is also an anchor partner. “The launch of Reservoir Farms is a critical step forward in ensuring the future resilience of California’s agriculture and across the Central Coast and Central Valley,” said Danny Bernstein, CEO of the Reservoir and Managing Partner of HawkTower. “By placing incubators directly on the farm, we enable innovators to test, iterate, and scale solutions in real-world conditions as a more immediate path to advance farming communities.” A New Model to Incubate AgTech Innovation The idea for Reservoir Farms emerged from extensive industry research and consultations with over 50 organizations in the specialty crop sector. Key insights uncovered critical gaps in startups' access to real-world testing environments, shop space, and direct relationships with growers—factors severely hindered capital efficiency and posed a formidable barrier to innovation. “Our goal is to eliminate the friction points that have historically slowed down the development of new agtech solutions,” said Walt Duflock, Senior Vice President of Innovation at Western Growers Association. “Reservoir Farms offers a new model, where startups can work side-by-side with growers to test their technologies, iterate in a low-stakes environment, and build scalable solutions to improve agriculture's operations.” Supports Thriving Agtech Ecosystem and Job Creation The Reservoir Farms initiative also reflects a broad-based collaboration between key educational institutions, industry players, and local communities to ensure the next generation of agricultural professionals is equipped with the skills needed to support the region’s growing agtech sector. Supporting partners include Central Coast Small Business Development Center (SBDC), Communities Organized for Relational Power in Action (COPA), Digital NEST, Farmhand Ventures, Merced County Farm Bureau, Milano Technical Group, Monterey Bay DART (Drone Automation & Robotics Technology), Monterey Bay Economic Partnership, Monterey County Farm Bureau, Tesserakt Ventures, and The Vine. “As robotics and automation become more integral to California agriculture, it’s essential to have facilities like Reservoir Farms embedded within the farming community,” said Gabriel Youtsey, Chief Innovation Officer at UC ANR. “By bridging the gap between lab-based research and real-world application and accelerating tech transfer, Reservoir Farms can help build the workforce and technology needed to address the critical challenges on the farm, from labor shortages to climate change.” A Focus on Specialized Services and Real-World Testing in California's Agricultural Heartland Reservoir Farms will open its first two locations in Salinas Valley and Merced in the first quarter of 2025. Participants can lease testing fields and shop space without the burden of multi-year leases, giving them the flexibility needed to scale. The incubators will offer fully equipped R&D workshops, secure storage for expensive equipment, and customized, pre-planted specialty crop fields for testing. These facilities will be complemented by Reservoir Farms’ co-working spaces, meeting rooms, and a robust demo day schedule designed to connect startups with growers, investors, and other key stakeholders. In addition, the Western Growers Association’s validation process will provide startups with a quantitative “scorecard” that offers crucial metrics on scalability, efficacy, and financial viability. This validation, combined with UC ANR’s field testing, will help startups refine their products and receive a critical stamp of approval that builds trust with growers and ensures a smoother path to commercialization. About the Reservoir: The Reservoir is a 501(c)(3) nonprofit building tech incubators for California’s future. Founded in 2024, the Reservoir creates spaces where startups, researchers, organizations, and corporations can develop and test innovations beyond Silicon Valley, focusing on rural areas like the Central and Salinas Valleys. The Reservoir drives economic growth, workforce development, and environmental resilience across California’s agricultural heartlands. Learn more at www.thersvr.org. Contact Details AgTech PR for The Reservoir Jennifer Goldston jennifer@agtechpr.com Company Website https://www.thersvr.org/

October 23, 2024 09:00 AM Pacific Daylight Time

Agtonomy Closes $32.8M Series A to Accelerate AI-Driven Automation in Agriculture and Expand into Autonomous Industrial Equipment

Agtonomy

Agtonomy, the pioneer in AI-enabled automation software for agriculture and land maintenance, has raised an additional $10M to close its Series A round, bringing total funding to $32.8M. This significant investment, combined with Agtonomy’s commercial offerings and scalable business model, positions the company for accelerated growth and market expansion over the next few years. Autotech Ventures, the leading mobility venture fund, led the round. New investors include Rethink Food, Allison Transmission, and Black Forest Ventures. Existing backers Toyota Ventures, Flybridge, and Cavallo Partners continued their support. This funding marks a pivotal moment in Agtonomy's mission to address labor and climate change challenges through advanced automation for industrial equipment fleet management. “Agtonomy's innovative approach aligns with our mission to revolutionize mobility and automation across various sectors, starting with off-road autonomy. Their unique business model, which combines software expertise with established OEM partnerships, positions them to lead the transformation to autonomous fleet management. We look forward to supporting Agtonomy's experienced team as they address critical labor shortages and sustainability challenges in these industries,” said Alexei Andreev, founding partner of Autotech Ventures. Agtonomy’s immediate growth plans include scaling its West Coast technical team into new markets, expanding its 2025 paid pilot program for permanent crops by 500 percent, and developing technology solutions for other industrial markets that seek world-class automation to improve margins. “The impact Autotech has already had on our business is expansive. We could not have had a better lead investor in this round than this talented group who have focused on the world of mobility since their inception,” said Tim Bucher, CEO and Co-Founder of Agtonomy. Powerhouse Board Validates Agtonomy’s Market Potential Sterling Anderson, a Silicon Valley icon who led the team that created the original Tesla Autopilot and co-founded the leading independent developer of on-road autonomy, will join Agtonomy’s diverse Board of Directors. “Agriculture is a vast and essential element of the human experience. Autonomy can make it better. I’ve been impressed with Agtonomy’s approach, focus, and execution to date and look forward to advising them on this important journey.,” said Sterling Anderson, Co-Founder and Chief Product Officer of Aurora. In May, Agtonomy announced that Jorge Heraud, formerly John Deere’s vice president of automation & autonomy, joined the Board, which includes both co-founders Tim Bucher and Valerie Syme, and Board Chair Jim Meyer, former SiriusXM CEO and current Vice Chair. “By bringing together some of the most impactful technology leaders, our Board is enabling additional firepower in corporate strategy and governance to bring Agtonomy to its full potential,” said Valerie Syme, co-founder and COO of Agtonomy. About Agtonomy: Agtonomy is a California-based, farmer-founded software, services and technology company enabling autonomy to solve agriculture’s most immediate and pressing problems including labor scarcity, climate change and shrinking profit margins. Partnering within the equipment value chain for rapid commercialization, Agtonomy embeds their ‘smarts’ into brand-name tractors and implements, digitally transforming machinery into a remote-operated, task-driven ecosystem for safe, equitable, profitable and climate-smart agriculture. For more information, visit https://www.agtonomy.com/. Contact Details AgTech PR for Agtonomy Sara Winters sara@agtechpr.com Company Website https://www.agtonomy.com/

October 16, 2024 08:30 AM Pacific Daylight Time

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Canoo Builds Modular EV Solutions For Commercial And Government Clients

Benzinga

By Johnny Rice, Benzinga Greg Ethridge, CFO of Canoo (NASDAQ: GOEV), was recently a guest on Benzinga’s All-Access. Canoo Inc. is an automotive tech company that manufactures electric cargo vehicles for large commercial and government fleet customers globally. The company has developed design-forward electric vehicles with steer-by-wire technology on its common modular platform with end-to-end software plus power solutions. Ethridge told Benzinga that his company stands out for providing clients with full, long-term solutions rather than just the EV product. Canoo’s production facility in Oklahoma will be the first automotive foreign-trade zone in the state. Watch the full interview here: Featured photo by Hyundai Motor Group 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 not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 16, 2024 08:35 AM Eastern Daylight Time

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