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Surge Battery Metals unearths highest-grade lithium resource in the US - PDAC 2024

Surge Battery Metals Inc

Surge Battery Metals Inc (TSX-V:NILI, OTCQX:NILIF) CEO Greg Reimer discusses the company's Nevada North Lithium Project with Proactive's Angela Harmantas at PDAC 2024. The project, located in northeastern Nevada, focuses on a lithium clay deposit. Following surface sampling in 2021 and 2022, and drilling in 2022 and 2023, the company has published its maiden mineral resource estimate. This estimate revealed a substantial resource of 4.7 million tonnes at 2,900 parts per million, including a high-grade segment of 4.1 million tonnes at approximately 3,100 parts per million, making it the largest and highest-grade lithium resource in the United States. The company anticipates announcing optimisations to the lithium extraction process in collaboration with Dr Vijay Mehta, a noted expert in lithium processing, and Cameco consultants. Further developments include a spring and summer drilling program aimed at increasing resource size and grade, and a preliminary economic assessment scheduled for late fall. The company is also expanding its exploration scope with the Bureau of Land Management, seeking approval for a 250-acre drilling operation. Reimer emphasized the shallow depth (within 250 feet of the surface) of the high-grade resource, potentially enhancing the project's economic feasibility. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

March 18, 2024 12:48 PM Eastern Daylight Time

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CTTC Announces Informative Webinar on Partnership Opportunities for Low-No Applications

CTTC

The California Transit Training Consortium (CTTC) is thrilled to unveil an upcoming webinar titled "CTTC Partnership Opportunities for Low-No Applications." This pivotal online event is set for March 22, 2024, at 10:00 AM Pacific Time (US and Canada), focusing on the collaborative ventures within the sphere of low or no emission (Low-No) transit applications, especially underlining workforce development and the transition towards zero-emission buses. Event Details: Title: CTTC Partnership Opportunities for Low-No Applications Date: March 22, 2024 Time: 10:00 AM Pacific Time (US and Canada) Location: Online (Access details provided upon registration) Registration: https://zoom.us/webinar/register/WN_aUqvmnqDSryDc_iWx6Ox8g About the Webinar: The session aims to guide attendees through the workforce development prerequisites of Low-No Grant Applications, emphasizing how CTTC can augment your training needs for an effective shift to zero-emission buses. The webinar is especially timely, considering the latest announcement of the combined Notice of Funding Opportunity (NOFO) for FY24 that incorporates both Low-No and the Buses and Bus Facilities Competitive Programs. Participants will gain essential insights into optimizing their applications and nurturing enduring partnerships for sustainable transit solutions. Featured Speakers: Maggie Pears, Executive Director - CTTC: Maggie Pears brings a rich background of innovation and a deep understanding of industry needs from her tenure at the Center for Transportation and the Environment. She will outline the strategic partnership opportunities with CTTC, focusing on workforce development in the zero-emission bus (ZEB) sector. Wendy Morgan, Director of Grants - CTE: With a vast experience in public-sector funding, Wendy Morgan will delve into the specifics of eligible activities under the Low-No program, including FTA priority considerations and integrating workforce development into a zero-emission transition plan. Rashidi Barnes, Board Member - CTTC & CEO - Eastern Contra Costa Transit Authority (Tri Delta Transit): Drawing on extensive experience in transit operations and innovation, Rashidi Barnes will discuss the practicalities of meeting workforce training requirements, highlighting CTTC's comprehensive services to support effective Low-No grant applications. Registration: To take part in this insightful webinar and discover how CTTC can facilitate your agency's transition to a cleaner, more sustainable public transportation future, please register at [Insert Registration Link Here]. As spaces are limited, early registration is advised. Contact Information: For more details, please contact: Maggie Pears maggie.pears@scrttc.com This webinar presents a prime opportunity to explore how strategic partnerships and innovative training solutions offered by CTTC can empower your agency's journey towards environmental stewardship in public transportation. ### CTTC has been at the forefront of transit training for over 20 years, continually expanding its zero-emission training offerings to meet the evolving needs of the California transit workforce. Committed to aiding transit agencies, CTTC provides a plethora of services, including on-site course delivery, curriculum development, apprenticeship programs, and equipment procurement. Contact Details CTTC Maggie Pears +1 310-694-3969 maggie.pears@scrttc.com Media contact press@scrttc.com Company Website https://scrttc.com

March 15, 2024 03:19 PM Pacific Daylight Time

NAFA’s Innovations Showcase Returns to I&E 2024 with an Exciting Lineup

NAFA Fleet Management Association

NAFA Fleet Management Association (NAFA) is thrilled to announce the return of the highly anticipated Innovations Showcase at its 2024 Institute & Expo (I&E). Following its successful debut last year, the Innovations Showcase is back, bigger and better, set to once again transform the Expo floor into a dynamic innovation zone. This immersive experience, scheduled for April 23rd and 24th, invites I&E attendees to explore and interact with the latest products and updates from leading companies in the fleet management industry. "The Innovations Showcase is a testament to NAFA's commitment to advancing the fleet management profession through innovation and education,” said Mike Camnetar, CAFM, NAFA Board President. “We were overwhelmed by the positive feedback from last year and are proud to bring this interactive experience back to I&E. It's a unique opportunity for our members to engage directly with the latest advancements in the industry and recognize excellence through the People’s Choice Award." This year's showcase will feature an impressive lineup of companies known for their forward-thinking and innovative solutions. Attendees will have the chance to explore new products and services from: Car IQ Check Out Our Ramps Chevin Fleet Solutions Clean Fuels Alliance America Collective Data Fleetio MoveEV NovaCHARGE Inc RTA The Fleet Success Company Samsara Sortimo of North America Spring Free EV Each participating company will present their cutting-edge products and services, offering attendees a firsthand look at the future of fleet management. The Innovations Showcase features two awards – the Innovative Product of the Year Award and a People's Choice Award, celebrating the creativity and ingenuity of exhibitors. For the People’s Choice Award, attendees can vote for their favorite innovation. The winners of both awards will be announced before I&E closes. Don’t miss out on this highlight of I&E 2024 – join NAFA to experience innovation in action and contribute to shaping the future of fleet management. I&E attracts thousands of fleet professionals from a variety of fields, including corporate, government, public safety, utility, education and more. The three-day conference offers a blend of education, impactful conversations, networking opportunities, and products and services from the industry’s leading suppliers. Learn more and explore the full I&E schedule here. Prospective exhibitors are encouraged to secure their space early to ensure prime placement in the I&E Expo Hall. For more information about reserving an exhibit booth, please visit NAFA’s website. Sponsorship opportunities can be secured here. This year’s current sponsors include Bestpass Inc., FASTER Asset Solutions, Geotab, Holman, Legend Fleet Solutions, Merchants Fleet, Motive, Samsara, Shell Fleet Solutions, Stellantis, U.S. Bank Voyager, WEX and Wheels, Inc. NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

March 14, 2024 02:33 PM Eastern Daylight Time

Arksen: engineering the future of eco-friendly adventure and exploration

Arksen Ltd

Arksen Ltd CEO Jasper Smith tells Proactive's Stephen Gunnion that the UK-based design and engineering company is focused on creating products for adventure enthusiasts, including explorer vessels, overland vehicles, and apparel, underpinned by a philosophy of sustainable and authentic design. Founded around four years ago, Arksen has grown significantly, aiming to challenge industry norms by adhering to circular economy principles, emphasizing the manufacture of products within planetary boundaries. Smith highlighted the company's commitment to environmental respect, comparing its growth strategy to established brands through OEM manufacturing and low overheads paired with significant investments in intellectual property and marketing. Outlining Arksen's multifaceted market approach, Smith said the company sells directly, through a growing dealer network expected to expand from seven to eighty dealers, and via agents and brokers for larger, bespoke products. It targets a wide customer base, from high-net-worth individuals and corporations seeking research vessels to consumers interested in their apparel line. The market across Arksen's sectors is large, with a 7% compound annual growth rate and a total size of about $840 billion, undergoing transformations towards sustainability and changing consumer behaviors. Arksen plans to raise £6 million for expansion, particularly in the US, where 60-70% of its engagement lies. This funding, coupled with potential government-backed debt from a £4 billion investment into the UK shipbuilding industry, aims to scale production and meet dealer demand. Additionally, Smith discussed "10% for the Ocean," a philanthropic initiative supporting ocean conservation, reflecting the company's commitment to environmental stewardship alongside its business objectives. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

March 14, 2024 08:36 AM Eastern Daylight Time

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New Horizon Aircraft Report Findings: 96% of Professional Investors Are Keeping An Eye On Transport Of The Future As Companies Advance eVTOL Technology

Benzinga

By Faith Ashmore, Benzinga The technology of Hollywood may finally be catching up to real life in another area. In the realm of electric vehicles (EVs), electric Vertical Take-Off and Landing (eVTOL) aircraft have gotten some attention from the press, the public and investors. From large international majors like Hyundai (OTCMKTS: HYMTF) to newer eVTOL companies like New Horizon Aircraft (NASDAQ: HOVR) (“Horizon Aircraft”), eVTOLs may be the way of the future. With population growth and urbanization on the rise, traffic congestion is becoming a pressing concern for citizens and city planners alike. A recent study conducted in the U.S., France, Germany and the U.K. reveals that road congestion results in up to $200 billion in lost productivity annually. Governments are also racing to transition away from gasoline-powered vehicles that contribute to global emissions and climate change. Advanced Air Mobility (AAM) offers a cost-effective, environmentally friendly and safer way to travel, presenting a disruptive alternative to traditional air travel and cargo systems. eVTOLs are among the solutions for the future. Horizon Aircraft is working on its prototype eVTOL, the Cavorite X7, which is designed for longer-range regional passenger, cargo and special missions. Their 50%-scale prototype has already successfully demonstrated hover flight and the company believes it may complete a successful transition flight before the end of Q1 of 2024. One of the key aspects that sets Horizon Aircraft apart from competitors like Joby Aviation (NYSE: JOBY) and Lilium NV (NASDAQ: LILM) is that it prides itself on the expertise of its team, comprised of professionals with extensive backgrounds in the aviation industry. Led by a highly skilled former fighter pilot, the company leverages collective knowledge gained from years of military and commercial aviation experience. The rest of the team at Horizon Aircraft consists of a group of engineers, pilots and business specialists who are committed to pushing the boundaries of regional transportation. The company is also vertically integrated; all of its composite manufacturing, 3D printed advanced carbon fiber thermoplastics, custom electronics, control systems and more are completed in-house. The company boasts that its product takes off and lands like a helicopter but has the capacity to fly almost twice as fast with lower operating costs. Unlike most of its competitors, Horizon’s Cavorite X7 uses a hybrid electric power system that should enable a top speed of 450 km/h, carrying 1,500 lbs of useful load for more than 800 km. A recent report by Morgan Stanley predicts that AAM will encompass a total addressable market of $1.5 trillion by 2040. “The intersection of many technologies, such as ultra-efficient batteries, autonomous systems, and advanced manufacturing processes are spawning a flurry of activity in this space," shared Adam Jonas, Head of Morgan Stanley's Global Auto and Shared Mobility research team. Horizon Aircraft also recently published a global study that showed an overwhelming majority (96%) of professional investors recognize the increasing global demand for improved transportation systems, coupled with the imperative to reduce the environmental footprint resulting from increased road congestion. The study’s findings included that investors also believe the advancements in technology that demonstrate the safety and feasibility of eVTOL aircraft will catalyze movement in the regulatory landscape and attract substantial investments to the sector within the next five years. Horizon Aircraft is looking to capitalize on these markets. Brandon Robinson, CEO of Horizon Aircraft, shared, "Private equity, venture capital and family office investors have been closely monitoring the Advanced Air Mobility sector for some time, but are now seeing an acceleration towards the launch of the first commercial eVTOL passenger routes. The sector has already attracted significant investment, and we anticipate that this will only increase as ongoing developments in technology provide new investment opportunities in this rapidly expanding market that has the potential to revolutionize transportation." Featured photo courtesy of Horizon Aircraft. 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

March 12, 2024 08:25 AM Eastern Daylight Time

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A Call to Action: Revitalizing U.S. Maritime Security for Global Stability and Prosperity

MAR LLC

Rarely is there a day without international shipping in the news. From Yemen's Houthi militants attacking shipping in the Red Sea, maritime food blockades around Ukraine, rising hostilities in the South China Sea, drought reducing traffic through the Panama Canal by almost 50%, global shipping is receiving more attention than ever before. And yet barely four years after the COVID-19 pandemic, supply chain crunch, blockade of the Suez Canal by the containership Ever Given, the vulnerabilities of the maritime transportation system remain and more needs to be done to protect American interests. ZERO POINT FOUR sheds light on the industry in a way that has never been done before. Bold new solutions are called for and revealed from this cutting analysis after years of working on the front lines of the shipping crisis. If you want to get a strong understanding of why the U.S. remains vulnerable to supply chain risks and a shortage of military sealift support, then this book is required reading. After years of extensive research, The Maritime Accelerator for Resilience (MAR) released the findings of its landmark study in a book entitled ZERO POINT FOUR, spearheaded by Rear Admiral James Watson (USCG Ret.) and an esteemed panel of maritime, security, ocean and supply chain experts. This critical analysis delves into the challenges and strategic imperatives facing U.S. maritime security, emphasizing its indispensable role in global commerce, national defense, and international peacekeeping and offering near, medium and long term leadership opportunities to mitigate America’s vulnerabilities. In an era marked by complex global challenges, the U.S. maritime sector's decline to a mere 0.4% of the global oceangoing commercial fleet signifies not just a loss of commercial prominence but also a critical vulnerability in national security and global economic stability. ZERO POINT FOUR offers a stark examination of the consequences of diminished U.S. influence on the seas, from eroding economic competitiveness to heightened risks in global supply chains, energy dependence, and environmental sustainability. The book highlights five key principles around security—national, economic, energy and food, climate, and workforce-- and outlines a visionary framework for action, advocating for strategic investments in maritime infrastructure, technological innovation, and a revitalized maritime workforce. These initiatives aim to restore the U.S. as a global maritime leader, ensuring the safety, efficiency, and sustainability of international shipping lanes crucial for the flow of trade, energy, and resources worldwide. Furthermore, ZERO POINT FOUR calls for enhanced international maritime cooperation to tackle piracy, illegal fishing, and environmental hazards, reinforcing the U.S. commitment to upholding the rule of law on the high seas and fostering a climate of global peace and cooperation. The impetus for the book came from the author’s recognition of the US’s vulnerability in maritime security, and its impact on all aspects of American life. From the post-World War II period when 50% of all oceangoing commercial vessels were under the US flag to today’s 0.4%, an unsustainable shift of power and influence has occurred which needs to be remedied. In addition to Rear Admiral Watson, authors include maritime mavens Carleen Lyden Walker and Captain Anuj Chopra, technology and sustainability economist Nishan Degnarain, cyber security, physical security, and enterprise resilience veteran Rich Mason, and global supply chain specialist Jonothan Kempe. The Maritime Accelerator for Resilience urges all stakeholders — government officials, industry leaders, and the public — to unite behind these proposals. By doing so, the U.S. can secure a future where its maritime domain not only thrives but also serves as a cornerstone for global trade, environmental stewardship, and international peace. ZERO POINT FOUR is available for purchase on Amazon using this LINK. The Maritime Accelerator for Resilience (MAR LLC) is a U.S.-based maritime organization operating as a maritime policy accelerator and is dedicated to propelling the U.S. maritime industry into a new era of innovation, security, and global leadership. Collaborating with influential figures in shipping, ocean policy and innovation, MAR aims to advance policy, technology, and operational strategies that enhance maritime resilience and competitiveness. Our vision is to motivate the U.S. maritime industry to global competitiveness, navigating challenges and embracing opportunities in the next decade. For more details, visit: www.maritimeresilience.org Contact Details MAR LLC Carleen Lyden Walker +1 203-260-0480 carleen.lw@maritimeresilience.org

March 11, 2024 01:00 AM Eastern Daylight Time

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Leading Automotive Brands to Join NAFA’s Ride & Drive Experience at the 2024 Institute & Expo

NAFA Fleet Management Association

As excitement continues to build for Institute & Expo (I&E), NAFA Fleet Management Association (NAFA), the industry's leading membership association, is excited to share the lineup for its new Ride & Drive Experience. Powered by Bobit, the Ride & Drive Experience provides the opportunity for attendees to interact with the latest models, electric and alternative fuel vehicles, and cutting-edge technologies behind the wheel. Hosted outdoors, this interactive event allows participants to experience firsthand the innovation and performance of vehicles from renowned automotive brands. This experience is set to take place during I&E in San Antonio, TX on Wednesday, April 24th from 2:30 p.m. to 4:30 p.m. "The Ride & Drive Experience is one of the highlights of our 2024 I&E, providing attendees with a hands-on opportunity to explore the future of fleet vehicles and technologies," said Bill Schankel, CAE, CEO of NAFA. “We’re excited to collaborate with NAFA to offer I&E attendees an exceptional experience, showcasing the advancements driving the fleet industry forward," said Henry Dicker, President of Events for Bobit. The following companies will be participating in the 2024 Ride & Drive Experience: BMW Lucid Mercedes Benz Mullen Automotive Stellantis Toyota Volkswagen Volvo Additional participating companies and vehicles will be announced in the coming weeks. I&E attracts thousands of fleet professionals from a variety of fields, including corporate, government, public safety, utility, education and more. The three-day conference offers a blend of education, impactful conversations, networking opportunities, and products and services from the industry’s leading suppliers. More information about the I&E schedule can be found here. Prospective exhibitors are encouraged to secure their space early to ensure prime placement in the I&E Expo Hall. For more information about reserving an exhibit booth, please visit NAFA’s website. Sponsorship opportunities can be secured here. This year’s current sponsors include Bestpass Inc., FASTER Asset Solutions, Geotab, Holman, Legend Fleet Solutions, Merchants Fleet, Motive, Samsara, Shell Fleet Solutions, Stellantis, U.S. Bank Voyager, WEX and Wheels, Inc. NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

March 07, 2024 02:00 PM Eastern Standard Time

Video: Jeff Dunham Pops Wheelies in Dodge SRT Demon 170 with Salvaggio Design

Salvaggio Design

While millions of people know comedian, ventriloquist and actor Jeff Dunham, they might be unaware he’s a certified car guy with an impressive collection assembled over the years. “It all started with Hot Wheels,” Dunham explained in the latest video from muscle car builder, Dave Salvaggio. The latest addition to the Dunham collection is the Dodge Challenger SRT Demon 170 – the final edition of the Hemi-powered hot rods from Dodge, boasting 1025hp. Dunham owns car #0013, which is the same number as the original Demon in his collection. “How do you resist having something like this?” Dunham reasoned. After purchasing a 2023 Dodge Challenger SRT Demon 170, owners can specify a number of customized, limited-edition, serialized items that are linked to the VIN number of each vehicle. Among the complimentary items available through the Dodge//SRT Concierge team is a custom decanter set, personalized badging, car cleaning products, and even a two-day drag racing class. Owners wishing to take their Demon 170 to the track also have exclusive access to a number of optional performance parts, which were engineered and fabricated by Direct Connection. And with all the parts fitted to Dunham’s car, Dave Salvaggio invited the comedian to Irwindale Speedway near Los Angeles, allowing him to understand the vehicle’s dynamics and performance. “It’s a massively powerful car and drivers need to know how to use it safely and under control to get the maximum fun from their Demon 170,” Salvaggio explained. “We prepped the eighth-mile track and Jeff was doing wheelies almost immediately!” Salvaggio continued. “Wheelies are a characteristic of the Demon models but it’s vital drivers are prepared for it and able to control the car for their own safety and the safety of others.” Among the extra equipment fitted was the Direct Connection Parachute Mounting Kit and Pistol Grip Parachute Release. Required because of the Demon 170’s phenomenal performance potential, the Simpson parachute itself is available directly from Salvaggio Design, along with the seatbelt harnesses. Both carry the Demon logo and are not available from Direct Connection. However, a Harness Bar can be purchased from Direct Connection, fitting to the interior rollcage without any drilling or cutting, providing a solid anchor for the harnesses. The final addition was the Direct Connection Rear Seat Delete Carbon Fiber Closeout Panels. The package consisted of pre-preg carbon fiber pieces that reduce weight and improve the aesthetics of the rear seat area. Salvaggio custom-painted Dunham’s rear panel with Demon artwork, creating a unique appearance. “You can’t describe it – you’ve got to be in it!” Dunham proclaimed after his track time. “It’s a just massive amount of power. What adds to it is the sound and the feel and the smell.” With his Demon 170 fully equipped to dominate the drag strip, and the driver prepared to launch hard enough to pop the front wheels in the air, Dunham will never be late for his stand-up comedy shows! All owners of the Dodge SRT Demon 170 can obtain the same parts for their car by visiting dodgegarage.com/demon-170-owner-info. Owners wishing to obtain the parachute and harnesses should contact Salvaggio Design via salvaggiodesign.com. EDITOR’S NOTE High-resolution images are available here: dropbox.com/scl/fo/w5bba9lsy2ec19e7dlh4x/h?rlkey=ypp7omqixclp3w50k5gfch23s&dl=0 Please download and share the video here: dropbox.com/scl/fi/iq344uor4990i3qeivps9/jeff_dunham-s_demon_170_equipped_with_mopar_direct_connection_parts-1080p.mp4?rlkey=8eargd3cu60y8apfddcqzq0ao&dl=0 ABOUT SALVAGGIO DESIGN Wisconsin-based Dave Salvaggio was born into an Italian family that has been involved in automotive design, racing, and engineering since 1919. He established his own business in 2003 and currently holds five patents for carbon fiber manufacturing processes. As a car builder, he has been responsible for a string of award-winning SEMA muscle cars since 2006, with a number of vehicles appearing in Hollywood movies. Throughout his career, Dave has been fortunate to build very special cars for special people and embarked on the next chapter at Salvaggio Design with a new workshop and small team of dedicated craftsmen. His aim is to focus their collective passion into building bespoke vehicles that encapsulate the best design, modern components, and the customer’s vision. The team utilize modern techniques including in-house CAD design, 3D printing, carbon fiber production, and more. Visit salvaggiodesign.com for more information. Contact Details Dave Salvaggio dave@salvaggiodesign.com Company Website http://www.salvaggiodesign.com/

March 07, 2024 06:15 AM Pacific Standard Time

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NASBP and SFAA Host Successful 2024 Legislative “Fly-In”

SFAA

The National Association of Surety Bond Producers (NASBP) and The Surety & Fidelity Association of America (SFAA) hosted a Legislative Fly-In on February 29, 2024. The Fly-In enabled surety professionals from across the country to educate members of Congress and staff about the value of construction surety bonds and advocate for their legislative priorities. Their meetings focused on expanding support for H.R. 1740 and S.2928, which would strengthen the Water Infrastructure Finance and Innovation Act (WIFIA) program by ensuring all projects financed with WIFIA assistance have appropriate bonding, regardless of delivery method. In addition, Fly-In participants discussed adding common-sense surety protection in the form of bonding requirements to the principal federal funding programs for broadband infrastructure projects. The meetings allowed NASBP and SFAA members to demonstrate their strong support for H.R. 1740 and S.2928, clarifying the bonding requirements under WIFIA, including Public-Private Partnership (P3) projects. “This legislation ensures the economic value that surety bonds provide through reduced contractor pricing, reduced default rates, and increased project performance are realized and would maintain parity with the Transportation Infrastructure Finance and Innovation Act (TIFIA) amendment, which passed the Senate with a unanimous 97-0 vote,” said Patrick Russell SFAA Director of Government Affairs. Mark McCallum, NASBP CEO, stated, “WIFIA is a key financing vehicle for undertaking the water infrastructure projects so badly needed throughout the United States, and making certain that U.S. taxpayer investments in the form of WIFIA loans and grants are protected through performance and payment bond guarantees is vital to realizing that these long overdue projects will be completed and that those supplying labor and materials will be paid.” NASBP and SFAA members also discussed the need for Congress to safeguard federal infrastructure investments in broadband projects. The Infrastructure Investment & Jobs Act (IIJA) allocated $42.5 billion to broadband expansion through the National Telecommunications and Information Administration’s (NTIA) Broadband Equity, Access, and Deployment (BEAD) Program. Originally calling for a Letter of Credit, NTIA recently released a waiver to the BEAD program, allowing surety as an alternative security option. NASBP and SFAA members used their time on Capitol Hill to update policymakers on the critical shift and inform them of the need for other federal agencies involved in broadband infrastructure, including programs administered by the U.S. Department of Agriculture and the FCC, to adopt similar practices. In over 100 meetings, construction bonding experts met with their elected representatives and their staff to educate them on surety bonds' significant role in advancing and protecting public infrastructure projects. These vital safeguards on construction projects for public entities include protecting taxpayers’ dollars, ensuring project completion, protecting local small business contractors and workers, preserving construction jobs, and promoting economic growth. A recent study by Ernst & Young (EY), The Economic Benefits of Surety Bonds, quantifies these vital protections and concludes bonded projects outperform unbonded projects because of lower default rates, cost and time savings, and other risk mitigation benefits. SFAA Contact: Peter Roth, Co-Managing Director (Interim) Vice President – Communications, Marketing & Research Phone: (703) 401-0676 | E-mail: proth@surety.org NASBP Contact: Kathy Hoffman, Director of Communications Phone: (240) 200-1278 | E-mail: khoffman@nasbp.org ### The Surety & Fidelity Association of America (SFAA) is a trade association of more than 425 insurance companies that write 98 percent of surety and fidelity bonds in the U.S. SFAA is licensed as a rating or advisory organization in all states. State insurance departments have designated it as a statistical agent for reporting fidelity and surety experience. www.surety.org Founded in 1942, the National Association of Surety Bond Producers (NASBP) is the association of and resource for surety bond producers and allied professionals. NASBP members specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. www.nasbp.org The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Contact Details Peter Roth +1 703-401-0676 proth@surety.org Company Website https://surety.org/

March 04, 2024 11:55 AM Eastern Standard Time

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