close

International headquarters

International headquarters

Vast Conquests Test America’s Hopes for a More Moderate Taliban

Officials in the Biden administration have maintained the optimistic claim that a desire for international approval could influence the actions of the Taliban. They reject criticism from Senate Minority Leader Mitch McConnell, R-Ky., Who opposes the withdrawal and rejects what he calls “diplomatic carrots.”

“If the Taliban claim to want international legitimacy, these actions will not give them the legitimacy they seek,” White House press secretary Jen Psaki said on Monday in one of several warnings from the administration.

US envoy for Afghanistan Zalmay Khalilzad traveled to Qatar on Tuesday to make the point directly to Taliban officials, telling Voice of America that if the Taliban take control of Afghanistan by force, ” they will become a pariah state ”.

Whether or not the Taliban heed this warning, Biden shows no signs of slowing down or reversing a decision to withdraw from the war.

The United States ends its nearly 20-year combat mission in Afghanistan on August 31 as part of an agreement President Donald Trump signed with the Taliban in 2020 plotted the September 11 attacks. He overthrew, along with Afghan allies, the Taliban government which had refused to surrender Osama bin Laden.

Only Pakistan, Saudi Arabia and the United Arab Emirates have recognized the former Taliban government. The inward-looking rulers applied the strictest interpretation of Islamic law. They banned singing, flying kites and watching television, and held public hangings at Kabul’s main sports stadium.

Mullah Mohammed Omar, then Taliban leader, made a gesture to the international community before September 11 by ending the heroin poppy cultivation, which UN officials have verified. But Omar told his ruling council that he believes there is nothing his government can do to end the international condemnation.

Members of Omar’s Taliban council at the time admitted that the financial sanctions were causing suffering.

For today’s Taliban, US talks about things like international inclusion, aid, and money for reconstruction might have mattered more if they had come a few years ago, a said Andrew Watkins, senior Afghanistan analyst for the International Crisis Group.

Today’s Taliban have been emboldened by the US withdrawal. Hopes of capturing all or part of Afghanistan, along with all the import fees at the border and other income a country offers, make international support less essential.

During the talks in Qatar, “the political representatives of the Taliban have expressed a genuine interest in international legitimacy and all the benefits that flow from it,” Watkins said. such global recognition or financial support, he said.

Trump and Biden officials hoped that the prospect of ending its former pariah status would moderate the behavior of the fundamentalist Pashtun ethnic group in various ways: negotiating its place in the Afghan power structure rather than taking it over, dealing with the Afghan minority groups with humanity and prohibit Islamic extremist groups from using the country as a base to attack on a regional or global scale.

Yet the Taliban’s political and military wings often seem at odds with Taliban representatives in Qatar, who negotiate as Taliban field commanders roll over the territory at home.

While political leaders speak of compromise and power sharing, Pakistani officials accustomed to private talks with the insurgent movement say they want full power.

They also envision a strict religious government, allowing girls to go to school and women to work, but only under their Islamic injunctions. Pakistani officials spoke on condition of anonymity due to the sensitivity of the matter.

Some European diplomats are more skeptical than Americans that international opinion can influence the Taliban. The Afghan president too.

“Yes they have changed, but negatively,” Ashraf Ghani, who rushed to Balkh province, already surrounded by Taliban-held territory, told his cabinet this month to seek help to repel the insurgents.

The Taliban have become “crueler, more oppressive” and would only share power if they were forced to do so on the battlefield, Ghani said.

Scenes of black-turbaned Taliban officials signing the US withdrawal agreement with officials Trump himself have given the Taliban new legitimacy. The same is true of Trump’s praise of the enemies of the US Taliban on the battlefield as “very tough, very smart.”

Eager to maintain regional and even global trade and economic ties, Taliban officials appealed to Central Asian governments and diplomats in Russia and China, assuring the Taliban would be good neighbors.

The Taliban have largely honored at least part of their deal with Trump, repelling attacks on the withdrawal of US forces.

The deal’s core requirement for Americans says that the Taliban cannot again allow al-Qaida or anyone else to use Afghanistan to threaten the United States or its allies.

But an April Pentagon report said the Taliban had “mutually beneficial” relations with groups linked to al-Qaida, and felt the militia was unlikely to take substantive action against them.

Overall, “I don’t think the United States will get what it hoped for,” said Jennifer Brick Murtazashvili, associate professor at the University of Pittsburgh, researcher in Afghanistan and former head of US development in Central Asia. .

The Taliban “don’t really have any incentives,” unless their governing plans have changed, and it is not clear that they have changed, she said. “I think there was a lot of wishful thinking that the Taliban had changed, you know, in the fundamental sense of the word.”


Source link

read more
International headquarters

Forest fires ravage Greece’s forests and cut the big island in two

GOUVES, Greece (AP) – Columns of smoke and ash blocked the sun over Greece’s second largest island and turned the skies orange as a days-old wildfire devoured pristine forests and triggered more evacuation alerts on Sunday, as residents called for additional firefighting. to help.

The fire in Evia, an island of mountains and forested canyons dotted with small coves of crystal clear water, began on August 3 and swept through the popular summer destination from coast to coast, burning uncontrollably for five days. Dozens of homes and businesses have been destroyed and thousands of residents and vacationers have been evacuated.

The fire is currently the most serious of dozens to erupt in Greece following the country’s most prolonged and intense heat wave in three decades, which has raised temperatures to 45 degrees Celsius (113 F) and created conditions of bone dryness.

The Greek Coast Guard said that three patrol boats, four navy ships, a ferry, two tourist boats and numerous fishing and private boats were ready to carry out further potential evacuations from the seaside village of Pefki, in the northern tip of Evia.

About 350 people have already boarded the ferry, the coast guard said, as towering flames cut many evacuation routes from the roads. Evacuation orders were issued for four villages, including Pefki, but some residents refused to leave, hoping to save their properties.

Planes and helicopters dropped water on the flames from above.

“It is already too late, the area has been destroyed,” lamented Giannis Kontzias, mayor of the municipality of Istiaia, north of Evia, on the Greek television channel Open TV. Residents of neighboring villages were urged to travel to Istiatia, a town of 7,000 in northern Evia that firefighters struggled to save overnight.

Villagers and residents of North Evia’s main port, Aidipsos, were urged to close windows, doors and fireplaces to prevent embers from entering homes.

Civil protection chief NIkos Hardalias said conditions in Evia were particularly difficult for planes and helicopters dropping water. Their pilots were facing “great danger” with limited visibility, air turbulence and wind currents from the fire, he said.

“We have a tougher afternoon ahead of us, a tougher night,” said Hardalias. “All the forces that have fought an uphill battle all these days will continue to operate with relentless intensity, with the same selflessness. “

Overnight, coast guards and ferries evacuated 83 people from the beaches of northern Evia. On Friday evening, ferries evacuated more than 1,000 people from beaches and a seaside village in doomsday scenes as flames raged on the hills behind them.

Local officials and residents of northern Evia called for television news broadcasts on Saturday, calling for more firefighters and planes to drop water.

Firefighters said 575 firefighters with 35 ground crews and 89 vehicles were battling the Evia blaze, including 112 Romanian firefighters and 100 Ukrainian firefighters sent to Greece as reinforcements. Four helicopters and three planes, including a huge Beriev-200 leased from Russia, provided air support.

Three other major fires also burned on Sunday in Greece’s southern Peloponnese region, while a massive blaze that ravaged forests, homes and businesses on the northern outskirts of the Greek capital appeared to be in decline. This fire traversed large swathes of a national park on Mount Parnitha, the largest remaining forested area near Athens which still bore deep scars from a fire in 2007.

The reactivation of the blaze north of Athens was a constant concern, Hardalias said, adding that firefighters and the military had patrolled through the night to deal with the situation. A firefighter was transferred to hospital on Sunday after losing consciousness while on patrol, Hardalias said. His condition was not life threatening.

A volunteer firefighter died on Friday from head injuries caused by a fall from a utility pole north of Athens, while at least 20 people were treated for fire-related injuries, including two firefighters who were hospitalized in intensive care.

The causes of the fires are under investigation. Three people were arrested on Friday _ in the greater Athens region, central and southern Greece _ on suspicion of starting fires, in two cases intentionally.

Another person, a 47-year-old Greek, was arrested on Saturday afternoon in the Athenian suburb of Petroupoli for lighting two fires in a grove and setting four dumpsters on fire, police said.

Ten countries have already sent firefighting personnel and equipment such as planes to Greece, while eight others are sending additional reinforcements.

Greek Prime Minister Kyriakos Mitsotakis visited the firefighters’ headquarters in Athens on Saturday and expressed “deep sorrow” for the death of the volunteer firefighter. He then went to the airport from where the firefighting planes take off and thanked the pilots, Greek and French.

Ensuring aid to all those affected by the forest fires will be “my first political priority,” the prime minister said, promising that all burnt areas would be reforested.

“When this nightmarish summer is over, we will turn our full attention to repairing the damage as quickly as possible and restoring our natural environment,” Mitsotakis said.

Greek and European officials have blamed climate change for the large number of fires that have ravaged southern Europe in recent days, from Italy to the Balkans, Greece and Turkey.

Massive fires have also been burning in Siberia in northern Russia for weeks, forcing the evacuation of a dozen villages on Saturday. In total, forest fires have burned nearly 15 million acres this year in Russia.

In the United States, hot, dry and gusty weather also fueled devastating wildfires in California.

About the photo: People use a ferry to evacuate the village of Pefki on the island of Evia, about 189 kilometers (118 miles) north of Athens, Greece on Sunday, August 8, 2021. Columns smoke and ash block sun above Greece’s second-largest island as days-old wildfire is devouring pristine forests and triggering more evacuation alerts. (AP Photo / Petros Karadjias)

Copyright 2021 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Source link

read more
International headquarters

G7: Iran, behind the attack on an oil tanker, “threatens international peace” | Expedition News

Tehran denies being behind a drone attack on an oil tanker linked to Israel, but the G7 says “all available evidence clearly points to Iran.”

G7 foreign ministers said that “all available evidence clearly indicates that Iran” was behind a July 29 drone attack on an Israel-linked tanker that killed a former British soldier and a Romanian national.

“It was a deliberate and targeted attack, and a flagrant violation of international law … There is no justification for this attack,” ministers from the world’s seven most developed countries said in a statement on Friday.

The vessel was a Japanese oil tanker, flying the Liberian flag, operated by the Israeli company Zodiac Maritime.

Iran has firmly denied having any connection to the MV Mercer street attack, which came as tensions rise in the region and talks to revive the 2015 Iran nuclear program deal stalled .

But European countries and the United States renewed their accusations at a closed-door Security Council meeting at UN headquarters in New York on Friday.

“The UK knows Iran is responsible for this attack. We know it was deliberate and targeted, ”said British Ambassador to the UN Barbara Woodward, who added that the evidence was“ clear ”.

“The door to diplomacy and dialogue remains open. But if Iran chooses not to take this path, then we will seek to hold Iran to account and apply a cost to it, ”she told reporters.

The Security Council is due to discuss the incident further at a public meeting on maritime security on Monday.

G7 ministers declared that “ships must be allowed to navigate freely in accordance with international law” and pledged to “do everything possible to protect all navigation, on which the world economy depends”.

“Iran’s behavior, as well as its support for proxy forces and armed non-state actors, threatens international peace and security,” they said, calling on Tehran to end all activities inconsistent with Iranian resolutions. Security Council.

“Iran will not hesitate to defend itself”

The United States and Israel have singled out Iran for being behind the attack on the tanker, which is led by a prominent Israeli businessman in London.

Iran’s deputy ambassador to the UN, Zahra Ershadi, rejected accusations that Tehran was behind the attack and warned against retaliation: “Iran will not hesitate to stand by. defend and protect its national interests “.

In a separate statement, the US military said explosives experts from the aircraft carrier Ronald Reagan – which deployed to aid Mercer Street – concluded the drone was produced in Iran.

He said explosives experts were able to recover several pieces of a drone, including part of the wing and internal components that he said were almost identical to previously collected samples from Iranian attack drones.

The US military also suggested the attack may have been launched from the Iranian coast, saying the distance to the scene of the attacks “was within range of documented one-way Iranian drones.”

“Some of the material was transferred to the headquarters of the US Fifth Fleet in Manama, Bahrain, and then to a US national laboratory for further testing and verification,” said Central Command, which oversees US forces in the area. region, in the press release.

Security analysts said the fatal attack raised the stakes in the “shadow war” against ships linked to Iran and Israel.

Iran was blamed again on Tuesday for the alleged hijacking of an asphalt and bitumen tanker in the Gulf of Oman, which prompted further denials from the Islamic Republic.

The tensions came as former head of the hard-line judiciary Ebrahim Raisi took over as Iranian presidency this week following his victory in the June election, replacing Hassan Rouhani who was seen as a more moderate figure.


Source link

read more
International headquarters

Smart Wires CEO Peter Wells explains his stint at NC

Peter Wells, CEO of energy technology company Smart Wires, believes his business is poised for serious growth in the years to come.

But that growth, according to Wells, would have been difficult to manage in the San Francisco area, where the company has been based since its inception in 2010.

Last week, Smart Wires, which manufactures technology to efficiently manage energy in power grids, announced it was moving its Bay Area headquarters to Durham. It’s a move that will ultimately create some 250 jobs at the Triangle, and North Carolina has offered the company a $ 2.8 million incentive program to make it happen.

In an interview with The News & Observer, Wells said the decision was about access to talent. In California, he said, competition between companies has grown fierce and the cost of living keeps entry-level employees away.

“It’s a little harder to find (and) dear people when you do,” Wells said in a Zoom interview.

And due to the nature of their business, which is designing technologies for power grids, the business often hires highly skilled electrical engineers, many of whom have doctorates. And other companies and industries have constantly tried to pull them off.

“The talent was sort of being harvested by other industries that maybe paying a lot more money than you might see in energy,” Wells said. “It was a challenge.”

As the company was poised to accelerate its growth in the coming months, Wells believed it was time to move the corporate headquarters. And as the company’s lease expires at the end of the year, it has started a nationwide search.

Smart Wires ended up narrowing its search to five cities, Well said, including Austin, Atlanta, Denver, the Triangle and its existing location in Union City, California.

Pierre.jpg
Peter Wells, CEO of Smart Wires Smart wires

The Triangle, Wells said, had the best overall score in its analysis thanks to its cost of living, existing energy technology companies and local universities.

“There are other (power) companies here, like Hitachi ABB,” Wells noted. And “NC State is doing very well in this area. Duke has a very good electrical engineering program. There are other colleges around, and Georgia Tech is not that far. I mean there is a lot going on in the area.

It’s also – at least for now – reasonably priced, Wells said, especially compared to places like Boulder, Colorado and Austin.

“The cost of living and housing is clearly increasing (in the Triangle),” he said, “because companies are coming in and investing… but there is still a long way to go before they reach” the levels Californians.

Wells knows the Triangle well, although a lot has changed since he was last there. He worked at the GE plant in Wilmington between 2003 and 2010, and visited Raleigh often. Since then, he said, the area’s cultural amenities, from bars and restaurants to music and cafes, have improved dramatically.

The company hopes to open its research and development lab in Durham later this year. It is currently targeting space in southern County Durham, near Raleigh-Durham International Airport.

Some of the company’s 140 or so employees will relocate to the Triangle, but most of them will either stay in California or work remotely. About 40% of the company’s employees work abroad.

Currently, approximately 15% of Smart Wires’ business is located in the United States. The company is very active in South America, the UK and Australia, where countries are really investing in efforts to modernize their power grids, Wells said.

But Wells believes the US market could be an important area of ​​growth in the years to come, as investment picks up in wind and solar power. Smart Wires technology helps utility providers connect their grids to wind turbines and solar panel farms and helps them efficiently manage the energy that results from them.

Wind turbines and solar panels are often built far from traditional power grids, complicating how utility companies can efficiently manage their energy.

“In England, all renewable energy is produced in Scotland and off the North Sea. But all the demand is in the south of England, “Wells said, adding that most countries have a similar dynamic, including the United States.” You can’t just move electricity. And everyone’s having these issues, so they don’t have enough capacity, and they’re having congestion issues.

Wells said the United States could see increased investment in modernizing power grids across the country, so they can handle more connections to alternative energy. The company is closely monitoring what will be included in an infrastructure bill currently being debated in Congress, and hopes it will provide incentives to modernize power grids.

“Frankly, even without this (infrastructure bill),” Wells said, utilities “are going to have to modernize. They can’t avoid it. So we think that over time, the US market … will probably represent more than 30 to 50% ”of the company’s activity.

This story was produced with the financial support of a coalition of partners led by Innovate Raleigh as part of an independent journalism scholarship program. The N&O retains full editorial control of the work. Learn more; go to bit.ly/newsinnover.

Related articles from Raleigh News & Observer

Zachery Eanes is the Innovate Raleigh reporter for The News & Observer and The Herald-Sun. It covers technology, startups and large companies, biotechnology and education issues related to these fields.


Source link

read more
International headquarters

Aro Biotherapeutics Expands Management Team and Plans to Move to New Philadelphia Headquarters to Drive Next Phase of Growth

PHILADELPHIA CREAM – (COMMERCIAL THREAD) – Aro Biotherapeutics, a pioneering biotechnology company in the development of genetic tissue-targeted drugs, today announced the appointment of three new executives, including Scott Greenberg as COO, Jeffrey Staiger as as Senior Vice President of Finance and Business Development, and Michael Tortorici, PharmD, Ph.D. as Vice President of Clinical Pharmacology and Non-Clinical Development. Mr. Greenberg recently served as Aro’s Commercial Director, while Mr. Staiger and Dr. Tortorici are new additions to the management team. The company also announced its intention to relocate its headquarters to Curtis in Philadelphia to accommodate the continued growth of its operations and staff.

“The expansion of our leadership team provides Aro with proven leadership expertise as we advance our first molecules into clinical development and continue to evolve our organization, ”said Susan Dillon, Ph.D., co-founder and CEO of Aro Biotherapeutics. “I am happy to welcome Jeff and Mike to Aro. They both have extensive experience in their respective functional areas which will bring great value to our organization. In his expanded role, Scott and his team will help us develop additional business capabilities that will support our future growth. ”

Mr. Greenberg joined Aro in 2019 from Roivant Sciences, where he most recently served as Vice President, Chief Operating Officer. Previously, he worked at Celgene Corporation in several roles spanning business development, project management, strategy, sales and marketing. He began his career in investment banking at Goldman Sachs Group, Inc. and received an MBA from Harvard Business School.

Mr. Staiger is an international leader in finance and business development having spent over 13 years with Celgene / Bristol Myers Squibb, in roles spanning finance, clinical development, corporate strategy, business operations, leadership alliance and business development. Mr. Staiger began his career at PricewaterhouseCoopers, becoming a Chartered Accountant, and held positions in finance at Quest Diagnostics. He received degrees in economics and accounting from Gordon College (MA).

Dr Tortorici, PharmD, Ph.D. has 15 years of experience in the pharmaceutical industry in the field of clinical pharmacology for small molecules and biologics in a wide range of diseases. He was most recently Executive Director and Head of Clinical Pharmacology at CSL Behring, leading the team responsible for clinical pharmacology for all programs in the portfolio. Prior to that, he worked at Pfizer in clinical pharmacology. Dr Tortorici received his PharmD and Ph.D. in Pharmaceutical Sciences from the Faculty of Pharmacy at the University of Pittsburgh.

Beginning in October 2021, Aro will begin moving operations to the Curtis in downtown Philadelphia. The Curtis is one of the best places for the scientific community to develop and perfect life-saving therapies and attract world-class talent to achieve their goals. The expanded space will be customized to Aro’s needs, providing an ideal location for the development of Centyrin’s proprietary Aro platform – siRNA drugs. Aro plans to complete the move to The Curtis in the first quarter of 2022.

“We couldn’t be happier to move to the historic Curtis Building as we enter our next phase of growth, ”said Dillon. “Lab and office spaces will help us create a world class facility, and with other building amenities and attractions nearby, The Curtis is ideal for Aro to hire and retain top talent.

About Aro Biotherapeutics

Philadelphia-based Aro Biotherapeutics is a pioneering biotechnology company in the development of tissue-targeted genetic drugs with a platform based on a proprietary protein technology called Centyrins. The company is developing a wholly owned pipeline of Centyrin-based therapeutic candidates and is working with industry partners to leverage Centyrins for tissue-specific targeting of therapies for a diverse set of diseases. For more information visit www.arobiotx.com.


Source link

read more
International headquarters

Flexicon expands global headquarters in Pennsylvania

Flexicon Corp. expanded its manufacturing space in Bethlehem, Pa., by 50,000 square feet to meet growing demand for its bulk handling equipment and systems.

The new space is mainly intended for the storage of sub-assemblies, the crating and the staging of the assembled equipment. This includes stocking Quick-Ship models of flexible screw conveyors, bulk bag unloaders and bulk bag conditioners for immediate shipment, freeing up the main facility for increased fabrication and assembly capacity.

Founded in 1974 in Fairfield, NJ, the company purchased its first manufacturing plant in Lodi, NJ in 1978, quintupled with the purchase of a plant in Phillipsburg, NJ in 1988, and added a satellite plant in Easton, PA in 1995 U.S. operations were then consolidated and expanded with the construction of the company’s global headquarters in Bethlehem, PA in 2001.

“In 2014, we doubled the size of our headquarters in Bethlehem, maximizing the coverage of the existing site, so we are fortunate that a facility adjacent to our main building is available this year,” said David Boger, vice president executive.

International factory expansions include the establishment of a manufacturing facility in the UK in 1994, one in South Africa in 2001 and another in Australia in 2008.

The company’s technical sales staff also grew with the addition of 26 factory direct sales offices located in US, UK, Chile, Spain, Germany, France, Africa. South, Australia, Singapore and Indonesia.

“All of the company’s locations can easily rely on Flexicon’s 25,000 installations around the world to find existing solutions to most bulk handling problems,” added Boger.

The company holds 36 patents reflected in the designs of its flexible screw conveyors, tube cable conveyors, pneumatic conveying systems, bulk bag unloaders, bulk bag conditioners, bulk bag fillers, bag emptying stations, drum / box / container tippers and batch weighing systems. A separate project engineering division. integrates large-scale systems in all industries in which bulk materials are handled.


Source link

read more
International headquarters

REE Automotive to Open US Headquarters in Austin, Texas

Zero-emission technology company REE Automotive has named Austin, Texas, the new headquarters for its US headquarters. The Israel-based electric mobility company is now looking to capitalize on a growing market in North America by opening a headquarters in Lone Star State, alongside an integration center for assembly and testing of its proprietary technologies.

REE Automotive is an electric mobility solutions company based in Tel Aviv, Israel, with additional subsidiaries in the US, UK and Germany.

The company specializes in the development and manufacture of modular EV platforms for B2B transactions in addition to its proprietary REEcorners. This year alone, REE announced collaborations with Magna International and Toyota’s Hino Motors.

Last February, REE announced an ongoing SPAC merger with 10X Capital Venture Acquisition Corp. ($ VCVC), raking in $ 500 million in gross revenue to accelerate mass production in 2023.

Yesterday, the business combination has been approved by shareholders and officially closed. This morning, REE debuted on the Nasdaq under the ticker $ REE.

REE Automotive is now launching into the running following its approved merger by announcing a new head office on American soil.

A REE corner module / Source: REE Automotive

REE Automotive’s new headquarters will be in Austin, Texas

In A press release this morning, REE Automotive shared plans for a U.S. headquarters in the booming city of Austin, Texas, promising more than 150 jobs over the next few years.

Additionally, Austin will house REE’s first asset light integration center, where it will assemble and test its REEcorner technology and modular electric vehicle platforms.

The new integration center brings REE’s technology to current and future North American automotive partners. REE co-founder and CEO Daniel Barel shares his thoughts on the city:

Establishing our US headquarters in Austin, Texas best positions us for rapid growth and expansion. Austin is fast becoming a global hotbed for elite tech professionals. REE must continue to grow and prosper, and Austin’s drive and entrepreneurial spirit fits perfectly with REE’s culture and values. Our presence in the United States will allow us to capitalize on the incredible opportunities in the United States market and to connect with our customers and partners based in North America, including Magna International and JB Poindexter, as we work together to develop and deliver modular electric vehicles (MEV).

A representative from REE Automotive said Electrek the company will inaugurate the new headquarters and the new integration center this year.

Construction is expected to be completed in the second half of 2022 and has an annual capacity of 40,000 modular EV platforms.

FTC: We use automatic affiliate links which generate income. Following.

Electrek T-shirt

Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.


Source link

read more
International headquarters

Soldo raises $ 180 million for its professional expense management platform – TechCrunch

Managing expenses has long been a headache for employees and accounting departments. For many, tracking and analyzing how money is spent on behalf of businesses is stuck in legacy software that is not well equipped to handle the latest demands. Today, British startups building solutions to bring the process into the 21st century are announcing a major funding round to double their growth.

BalanceProvide employee prepaid corporate card issuance platform linked to automated expense management system, achieved $ 180 million funding. Soldo currently has around 26,000 customers, from small and medium businesses to large multinationals in 30 countries, with Mercedes-Benz, GetYourGuide, Gymshark, Bauli and Brooks being popular. It’s a. Those.In addition to that, through the API, it also integrates With popular accounting packages used in organizations today – Ability to connect NetSuite, QuickBooks, Zucchetti, Xero and Soldo to over 50 expense management platforms, including Concur and Expensify.

The Series C cycle is led by Temasek of Singapore, with participation from Sunley House Capital, Advent International’s Crossover Fund, City Ventures, and former backers Axel, Battery Ventures and Dawn Capital. Silicon Valley Bank also provided a private amount of debt financing.

London-based company Sold was also unclear in its latest investment statement, but for reference, when it started raising funds in December, the company had around 278,800 people. It was valued at $ 10,000. PitchBook Data.. At the event, Sold said the tour was oversubscribed in the context of the company’s strong growth. Platform spending has quadrupled compared to the B-Series. $ 61 million for the 2019 round.. (Note: Soldo’s main business is in London, but it has a small head office in Dublin. Electronic Money License Part of the Brexit coverage in Ireland in 2019.)

More generally – and maybe because a lot of us spend more time away from headquarters, or maybe because some of us end up going out to meet people – the expense Management currently receives a lot of money. Warning. Earlier this month, Danish Pleo, one of Soldo’s biggest competitors, Raise $ 150 million at a valuation of $ 1.7 billion..

It’s a big market. The company claims the European expense management market is $ 170 billion.

At the heart of the challenge Soldo is trying to solve, spending is typically a very fragmented, undigitalized business, and the employees who rack up the spending aren’t usually accountants. In short, properly managing expenses is not one of our key skills. .. On the other hand, the costs themselves have evolved to cover all the by-products that have become easier to buy online, the way we work today, and much more. This can include memberships, travel and entertainment, home office supplies, etc. Purchase on behalf of the company for marketing campaigns, online advertising, etc.

If expenses are incurred digitally, tracking is easy, but often for services or goods purchased from IRL. This causes other problems. People often forget to get a receipt or lose it before filling out a report. Or pay for things out of pocket.

In addition, expenses are incurred by company card or bank transfer. The former is expensive and can be difficult to manage, while the latter has its own challenges. The process is slow and often requires several people to settle the payments.

Soldo’s approach to remedy this is first of all to facilitate the issuance of prepaid cards to employees in order to better manage their expenses. Then link the card to the application. The app will create an automatic prompt that will appear every time you make a purchase with your card, notifying you to get a receipt and download it.

“Soldo’s vision is to manage total business expenses, including advertising, software subscriptions, travel and entertainment, vendor management and payroll for all payment methods. Cards are just one of the many ways businesses can send money to their vendors, ”Email TechCrunch told TechCrunch. Carlo Guualandri, CEO and founder of Soldo. Unlike competitors like Pleo, he said: It’s important. This is because as the largest share of business expenses is transferred there, it becomes more valuable to customers using the expense management platform. “

Without a doubt, the growth of the company since its inception five years ago has seen a big slowdown in the form of Covid-19. The resulting recovery is proof that even the current market has found its place.

“The pandemic has almost completely wiped out travel and spending as a use case for corporate spending, given that a limited number of workers have traveled and had lunch on blockades,” Gualandri said. said sir. “It was very shocking to see Europe as a whole in the first weeks of March last year as people stayed at home due to the blockade. As a result, the trip is the number one company card. a. Due to its popularity and widespread use, a significant portion of financial services revenue was also lost. “But then two things happened. He continued.

“The number of spend use cases for other businesses has grown dramatically. There has been a global transition to e-commerce and the digitization of the financial sector. From supporting homeworkers to other business activities. There is a definite shift towards online shopping and you need a card to pay, ”he said. “In addition, many companies have started to distribute their products and services online, shifting most of their spending to online marketing. This is an example of a large expense that is usually paid for using a card. There have certainly been instances where some categories of spending have decreased and others have increased rapidly. I realized that many issues related to the pandemic have arisen and can be resolved. “

“Our experience with software and payment technologies gives us in-depth insight and Sold is at the forefront of financial digitization,” said Simon Lambert, director of Sunley House, Advent International’s cross-fund, in a statement. I’m sure I’ll stay on my feet. “The company operates in a large and rapidly growing market and is excited to join forces with a strong management team looking to create the leading payroll and expense automation platform in Europe. “

Soldo raises $ 180 million for its professional expense management platform – TechCrunch Source link Soldo raises $ 180 million for its professional expense management platform – TechCrunch


Source link

read more
International headquarters

Raleigh County Large-Scale Solar Project Has New Owner | Energy and environment

One of West Virginia’s first large-scale solar projects is moving forward under new ownership.

Enel Green Power, a global renewable energy developer headquartered in Rome, has taken over the project to build and operate a 90-megawatt solar farm in County Raleigh approved by county officials and officials. state utility regulators last year.

Enel Green Power purchased a 100% stake in the project as part of a portfolio of 3.2 gigawatt solar projects from Dakota Renewable Energy.

Operations are scheduled to begin in 2023 on a solar farm consisting of 250,000 solar panels on 530 acres in the Grandview area.

“What made it very appealing about this particular site was the major overhead power grid lines,” Raleigh County Administrator Jay Quesenberry said. “It’s very easy for them to put this electricity directly into a substation and put it directly on the grid.

Enel Green Power said the project will be the first of several developing solar projects in the state. Projects under development in West Virginia, including the Raleigh County project, will include paired battery storage to add resilience to the electricity grid as the country develops more renewable energy.

“In West Virginia, I think we have a huge opportunity,” said Nick Coil, senior director of regional development at Enel Green Power, whose North American branch operates 58 power plants of over 6.6 gigawatts powered by gas. renewable wind, geothermal and solar energy.

Coil said the lack of large-scale solar power generation facilities in West Virginia makes the state ripe for development that could generate tax revenue for counties and school districts, even though the mountainous terrain of the state may ultimately limit the state’s appeal to an industry that values ​​flatter land for laying down blocks of solar panels.

“Hopefully Raleigh will be one of the first of many projects in the state,” Coil said. “We are delighted with this opportunity to enter a new market. “

Coil declined to say how much Enel Green Power paid to purchase the solar project.

Raleigh Solar I, LLC, a subsidiary of Dakota Renewable Energy, estimated the project would cost $ 90 million before the West Virginia Civil Service Commission approved a site certificate for the project in October.

The Civil Service Commission order granting this certificate applies to all subsequent owners of the project, approving a decommissioning agreement with a minimum initial guarantee of $ 50,000 and requiring that construction begin within five years and be completed. complete within 10 years.

The Raleigh County Commission in September approved a payment in lieu of taxes deal with Raleigh Solar to inflate the county coffers by more than $ 2 million, with the bulk going to the Raleigh County Board of Education .

The project will create three to five permanent jobs which Coil says are “mostly local” and 150-200 jobs throughout the construction process which could take anywhere from eight months to a year.

Coil estimated that the 90-megawatt solar farm’s capacity is generally sufficient to power around 16,000 homes. The County of Raleigh’s projected power generation is about average among Enel Green Power’s lineup of solar projects, Coil said.

West Virginia lawmakers opened up the state’s solar market during the 2020 legislative session by passing bills creating a solar services program and favorably adjusting the business and trade tax for solar power.

In statements released by Enel Green Power, West Virginia Governor Jim Justice and U.S. Senator Joe Manchin, DW.Va., praised the state’s solar business and development while clearly indicating their continued support for the fossil fuels in addition to renewable energies. .

“I am incredibly excited for all the good that Enel Green Power’s acquisition of the Raleigh Solar Project will do for our great state and our people,” Justice said. “As I have said many times, West Virginia is an ‘all-in’ energy state. We abound in a diverse range of natural resources unlike anywhere else on Earth. Not only will this project continue to diversify our state’s energy production and enable us to power people’s homes in a sustainable manner, the ripple effects on our economy and our workforce will be phenomenal.

“The announcement of a major solar project in West Virginia is great news for our state as it highlights, once again, the abundant natural resources there,” said Manchin, Chairman of the Senate Energy Committee. and natural resources. “From coal and natural gas to wind, solar and hydropower, the Mountain State has been – and will continue to be – the backbone of the U.S. economy, and investments like this These allow us to continue to use all of the above for power generation and job creation while deploying innovative energy technologies and maintaining our country’s position as a global energy leader.

The Solar Energy Industries Association ranks West Virginia 49th in the country for installed solar power capacity.

Another large-scale solar project is planned in Berkeley County, which County Council announced in January that a renewable energy development company plans to install a $ 100 million solar power generation facility. dollars in a former explosives plant at DuPont Potomac River Works.

Bedington Energy Facility, LLC, a Delaware subsidiary of Colorado-based Torch Clean Energy, plans to invest $ 100 million to build a 100-megawatt solar installation on 750 acres of land on a site that has been designated as a wasteland. industrial “unsuitable for most commercial enterprises.” and industrial uses, ”according to a payment in lieu of tax agreement between Berkeley County Council and Bedington Energy Facility.

Coil predicts tremendous growth in the solar industry over the next five years, in line with current market forces, and claims that Enel Green Power will share the wealth by sponsoring STEM (science, technology, engineering and math) education and d other initiatives that rural communities identify as priorities.

“We’re not just going to come in and be a silent observer in the community,” Coil said. “We want to be an active participant and help the community. “


Source link

read more
International headquarters

OPEC and allied nations agree to end dispute that has skyrocketed energy prices: NPR

In this file photo from January 8, 2020, UAE Minister of Energy Suhail al-Mazrouei attends the UAE Energy Forum 2020 in Abu Dhabi, United Arab Emirates. Al-Mazrouei said on Sunday that OPEC and allied countries had reached a “full deal” after a previous dispute that rocked oil prices.

Kamran Jebreili / AP


hide caption

toggle legend

Kamran Jebreili / AP


In this file photo from January 8, 2020, UAE Minister of Energy Suhail al-Mazrouei attends the UAE Energy Forum 2020 in Abu Dhabi, United Arab Emirates. Al-Mazrouei said on Sunday that OPEC and allied countries had reached a “full deal” after a previous dispute that rocked oil prices.

Kamran Jebreili / AP

DUBAI, United Arab Emirates – OPEC and allies agreed on Sunday to possibly increase production limits on five countries, ending an earlier dispute sparked by the United Arab Emirates that has rocked world prices for energy.

The disagreement, sparked by a demand from the UAE to increase its own production, temporarily disrupted a previous cartel meeting. In a statement on Sunday, the cartel said Iraq, Kuwait, Russia, Saudi Arabia and the United Arab Emirates would see their limits increased.

“What binds us is far beyond what you imagine,” Saudi Energy Minister Prince Abdulaziz bin Salman said. “We differ here and there but we relate.”

Prince Abdulaziz declined to say how they came to this consensus, saying it would see the cartel “lose our advantage of being mysterious and intelligent”. But he clearly bristled at previous reports on the dispute between Saudi Arabia, long the heavyweight of the Vienna-based cartel, and the United Arab Emirates.

Prince Abdulaziz then referred to the start of a press conference in al-Mazrouei as a sign of respect.

“The UAE is attached to this group and will always work with it and within this group to do their best to achieve market balance and help everyone,” al-Mazrouei said. He hailed the deal as a “full deal” between all parties.

Outside of OPEC, however, tensions persist among neighboring nations. The UAE has largely withdrawn from the Saudi-led war in Yemen, while diplomatically recognizing Israel. Saudi Arabia has also reopened in Qatar after a multi-year boycott, although relations between Abu Dhabi and Doha remain frigid. Saudi Arabia has also aggressively sought an international trade headquarters, which could affect the UAE’s business hub, Dubai.

Abu Dhabi’s powerful Crown Prince Mohammed bin Zayed, the country’s de facto ruler, and Saudi Crown Prince Mohammed bin Salman have, however, been close over the years. The two leaders will likely meet in Saudi Arabia on Monday.

Under the new production limits, the UAE could produce up to 3.5 million barrels of crude oil per day as of May 2022. This is lower than the 3.8 million barrels per day they would have sought. Saudi Arabia’s limit of 11 million barrels per day would increase to 11.5 million, as would Russia’s. Iraq and Kuwait saw smaller increases.

In its statement, OPEC acknowledged that oil prices continued to improve.

“Economic recovery has continued in most parts of the world thanks to the acceleration of vaccination programs,” the cartel said.

Oil prices collapsed amid the coronavirus pandemic as demand for jet fuel and gasoline fell amid lockdowns across the world, briefly seeing oil futures trading in the negatives. Demand has since rebounded as vaccines, while still unevenly distributed across the world, reach guns in major global economies.

Benchmark Brent crude was trading around $ 73 a barrel on Friday.

Once tough enough to stop the United States with its 1970s oil embargo, OPEC needed non-members like Russia to force a production cut in 2016 after prices collapsed below $ 30. $ per barrel in a context of increasing American production. This agreement in 2016 gave birth to OPEC +, which joined the cartel by cutting production to help boost prices.

OPEC + agreed in 2020 to withdraw a record 10 million barrels of crude per day from the market to raise prices. It has slowly added some 4.2 million barrels over time.

Starting in August, the cartel said it would separately increase production by 400,000 barrels per day each month. This will allow it to phase out its current production of 5.8 million barrels of oil by the end of 2022, as provided for in the original agreement.

OPEC member countries include Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Kuwait, Nigeria, Saudi Arabia, and the United Arab Emirates. OPEC + members include Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan and South Sudan.

Prince Abdulaziz, praising Sunday’s deal, offered a cheerful assessment of the future despite the recent turmoil.

“OPEC + is here to stay,” proclaimed the prince.


Source link

read more
1 11 12 13 14 15 16
Page 13 of 16