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Battery-Swapping Stocks Are Trending: Here’s Why U Power Is On The List

Benzinga

By Meg Flippin, Benzinga Electric vehicle (EV) battery-swapping services are taking off as the industry seeks ways to overcome barriers to widespread adoption. Getting stuck because of a dead battery is a big one. The time it takes to get charged up is another. Battery swapping fixes that, enabling drivers to have a full charge in minutes. It also makes owning an EV cheaper. The customer has to purchase the vehicle body and lease the battery pack. According to some estimates, that could save drivers thousands of dollars. All of this is driving this burgeoning industry and its players. U Power Ltd (NASDAQ: UCAR), the Chinese EV power solution company, is one of them. It is going after the market with its advanced UOTTA technology that enables consumers and fleet operators to replace dead EV batteries with fully charged ones in under five minutes. That alone is a big deal, but U Power also offers a battery-swapping ecosystem which includes building the infrastructure through to managing it. U Power Takes On The Competition U Power has some impressive competitors including Nio (NYSE: NIO) the Chinese EV maker, CATL, the leading Chinese EV battery producer and Ample, a San Francisco battery-swapping station start-up. But this isn't stopping U Power from seeing double-digit growth. The company credits that with its ecosystem of services, which it says its competitors don’t have. U Power is also differentiating itself with the customers it is courting. Last year, U Power's UOTTA ecosystem achieved industry-leading full product coverage for commercial vehicles. This coverage spans a wide range of vehicles from long-haul buses to light passenger vehicles, and container tractors to small trucks. U Power offers customized solutions tailored to customer needs. Setting The Standards Then there’s U Power’s partnerships, which will be key to the growth of this market. Battery-swapping is in its infancy and in the beginning the government will play a role in helping develop the market, but eventually the private sector will take over. Companies with broad partnerships with vehicle manufacturers and operators will have a seat at the table when it comes to setting battery-swapping technology standards. That will give them a lead in the market and they could emerge as the company others look to. U Power is among those standard-setting companies, spearheading the initiative. The company’s strong network of partnerships puts U Power in a position to expand the market. Those partnerships include a deal with Dutch electric vehicle company UNEX to provide battery-swapping vehicles and swapping station services to Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros (ANTRAL), a partnership with Cornerstone Technologies Holdings Limited, a leading EV charging solution provider and charge point operator based in Hong Kong, to jointly explore and develop a strategic business relationship and an agreement with a Peruvian miner to evaluate electric heavy-duty vehicles on an established haulage route. U Power also has a partnership with a major taxi company in China and is forging partnerships with Chinese automobile manufacturers to jointly develop commercial-use UOTTA-powered EVs, such as ride-hailing passenger EVs, small logistics EVs and light electric trucks. At last check, U Power has already sold eleven battery swapping stations, and has 14 patents and 24 pending patent applications in China. All of that is leading to impressive revenue growth. For 2023, revenue increased by 153.5% while gross profit margins reached 61.6%, up from 34.1%. Is U Power Undervalued? But you wouldn’t know it from its stock price. U Power’s valuation pales in comparison to some of its rivals, including Ample, which designs EV battery-swapping stations specifically for Uber drivers. Its stations are optimized for urban settings, and take up a small footprint equivalent to two parking spaces. Like U Power, Ample is forming partnerships within the industry. Back in 2021, Ample reached unicorn status, and while its valuation has come down a bit since then, it's still a highly valued player. U Power could follow a similar trajectory, as it is sporting a market cap of only $17.4 million, despite high growth, key partnerships and strong gross margins. The EV battery-swapping services market is just taking off as the EV market itself grows. Last year the US sold a record 1.2 million EVs. Meanwhile, China forecasts an estimated 20 million EVs will be on the road as of the start of this year. U Power is positioning itself to be a big player in the market and stand out from its rivals focused on battery swapping stations alone. With a broad portfolio of services, strong partnerships and a focus on the commercial market, U Power could be the next breakout stock in the evolving EV battery-swapping marketplace. Featured photo by Priscilla Du Preez 🇨🇦 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

July 25, 2024 08:30 AM Eastern Daylight Time

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Classiq Transforms Quantum Computing with Qmod, The First High-Level Language for Quantum Programming

Classiq Technologies

Classiq today announced the general availability of Qmod (Quantum Modeling Language), the first high-level language (HLL) for quantum coding. Following successful pilot projects with enterprise partners, Qmod is now accessible to developers, researchers and enterprises worldwide and will transform quantum computing with its efficient, approachable method of programming. Qmod facilitates advanced quantum modeling and enables developers to describe quantum algorithms at a high level of abstraction. It supports unique quantum-computing concepts alongside conventional constructs found in high-level classical programming languages. This innovative approach allows developers to focus on the functional intent of their algorithms while Classiq’s powerful compiler and synthesis engine handle the intricate hardware-aware quantum implementation details. “To deliver a business or scientific value, quantum computing must be useful and accessible to scientists and engineers seeking to use quantum computing to solve real-world problems, which today it is not,” said Heather West, PhD, Research Manager, Quantum Computing at IDC. “Today, programming a quantum computer happens at the hardware level, making the technology only accessible to quantum physicists and other quantum specialists. As we begin to talk about quantum utility and near-term applications, abstraction-level application programming will become a necessity for wide-spread quantum adoption and usage.” Why The Qmod Language Is Different Declarative programming: Qmod’s declarative nature lets users define what their algorithm should achieve rather than how to achieve it; Classiq’s synthesis engine compiler optimizes for hardware and other constraints automatically. Flexibility and interoperability: Whether through native syntax, Python or graphical representation, Qmod descriptions are easily translatable and compatible across different formats and hardware. Industry-ready: Qmod is a tool for researchers and industry applications, providing robust scalable solutions for enterprise-grade quantum software development in an era of steadily growing qubit counts and the resulting coding complexity. “As we go further in building a complete quantum software stack, our groundbreaking Qmod language enables quantum experts to produce sophisticated programs while also allowing developers without a quantum background to innovate and solve complex problems across a variety of industry domains,” said Nir Minerbi, CEO and co-founder of Classiq. “By abstracting the complexities of quantum programming, Qmod delivers the ability to create and deploy dynamic quantum applications effortlessly. In some cases, it’ll use perhaps five lines of code instead of the traditional 100 lines of code. Like Java for the worldwide web or BASIC for PCs, Qmod is intended to open the gates to advanced quantum implementation.” Classiq’s platform ensures that quantum algorithms designed with Qmod can be seamlessly compiled for a broad range of hardware and simulation environments, as well as supporting seamless HPC integration. The platform's synthesis engine dynamically adapts implementations to different hardware configurations, allowing for rapid benchmarking and ensuring optimal implementations that make the very most of the available hardware. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC, and quantum simulators. Backed by investors such as HPE, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, and visit the Slack community and https://www.classiq.io to learn more. Contact Details Rainier Communications Michelle Allard McMahon classiqPR@rainierco.com Company Website http://www.classiq.io/

July 23, 2024 08:00 AM Eastern Daylight Time

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Classiq and QuEra Announce Integration of Neutral-Atom Quantum Computers into Classiq Platform

Classiq Technologies

Classiq, the leader in quantum software development, and QuEra Computing, the leader in neutral-atom quantum computing, today announced a strategic collaboration to integrate QuEra’s cutting-edge neutral-atom quantum computers into the Classiq platform. This integration will enable customers to optimize a wide variety of quantum and hybrid quantum/classical algorithms for QuEra’s quantum computers, leveraging the unique capabilities of QuEra’s advanced quantum technology. With this collaboration, Classiq users will be able to exploit the distinctive features of QuEra’s neutral-atom quantum computers, such as the ability to simultaneously operate on multiple qubits and advanced qubit shuttling. Additionally, the integration provides access to Classiq’s extensive pre-written algorithmic blocks and allows customers to estimate the resources needed to run their algorithms. These capabilities enable the creation of highly resource-efficient algorithms with a large number of qubits and, in the future, for logical qubits as well. “Our partnership with QuEra represents a significant step forward in the quantum computing landscape,” said Nir Minerbi, CEO of Classiq. “By integrating QuEra’s neutral-atom technology into our platform, we are providing our users with unprecedented opportunities to enhance and optimize their quantum algorithms. This collaboration underscores our commitment to delivering the most versatile and powerful quantum computing solutions available.” “We are thrilled to collaborate with Classiq and bring the power of our neutral-atom quantum computers to a broader audience,” said Yuval Boger, Chief Commercial Officer of QuEra. “Classiq’s platform is renowned for its ease of use and flexibility, and by integrating our technology, we can help users unlock new potential and achieve groundbreaking results in their quantum computing projects.” The integration of QuEra’s quantum computers into the Classiq platform is expected to accelerate the development and deployment of quantum applications across various fields, including pharmaceuticals, finance, logistics and more. Customers who have purchased on-premises computers will be able to use the Classiq platform for the rapid development of quantum algorithms. This partnership highlights the ongoing commitment of both companies to drive innovation and make quantum computing more accessible and impactful. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC, and quantum simulators. Backed by investors such as HPE, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, and visit the Slack community and https://www.classiq.io to learn more. About QuEra QuEra Computing is the leader in commercializing quantum computers using neutral atoms—widely recognized as a highly promising quantum modality. Based in Boston and built on pioneering research from nearby Harvard University and MIT, QuEra operates the world’s largest publicly accessible quantum computer, available over a major public cloud and for on-premises delivery. QuEra is developing large-scale, fault-tolerant quantum computers to tackle classically intractable problems, becoming the partner of choice in the quantum field. Simply put, QuEra is the best way to quantum. For more information, visit us at quera.com and follow us on X or LinkedIn. Contact Details Rainier Communications on behalf of Classiq Michelle Allard McMahon classiqPR@rainierco.com Merrill Freund on behalf of QuEra +1 415-577-8637 press@quera.com Company Website http://www.classiq.io/

July 23, 2024 08:00 AM Eastern Daylight Time

Freelance jobs grow despite AI, finds new data from Freelancer.com

FREELANCER.COM

Freelancer.com (ASX: FLN), the world’s largest freelancing and crowdsourcing marketplace by number of users and jobs posted, today released its quarterly Fast 50 Index for Q2 2024 based on data from 251,000 jobs posted to the platform. Computer Security (up 27.1% from 868 to 1,103 jobs) emerges as the fastest-growing freelance skill on Freelancer.com, based on job postings across more than 2,000 skill categories from April 1 to June 30, 2024. This trend in cybersecurity skills suggests more small-to-medium businesses are turning to freelancers for cyber security support, further backed by Network Administration (up 9.9%, from 1,229 to 1,351) also placing in the top 25 fastest growing jobs on the platform. The data also shows no negative impact on generative AI tools on freelance jobs, evident in the growth of Writing, Business Service, and Legal Skills seen in this quarter’s Fast 50 report, all of which were predicted to decrease with the rise in generative AI. PDF writing (up 26.7%, from 2,533 to 3,210) was the second fastest growing job, followed by third place being Microsoft Word (up 23.9%, from 3,368 to 4,173) projects which are also associated with content writing. Writing job Copy Typing came in at the 16th place, growing 11.6% (from 4,428 to 4,941). Legal jobs, which were expected to have been ‘at threat’ to AI, have also increased (up 12.0% from 1,138 to 1,274), as well as Legal Research (up 10.8% from 917 to 1,016). In addition to the index, Freelancer.com ’s annual AI survey, which surveyed more than 4,100 workers globally, investigated AI impact on income and the initial results are shedding light on earnings. When asked how the introduction of AI tools have impacted earnings, more than half of workers (52.5%) reveal they’re earning either the same or more. One fifth (19.2%) say that they’re earning a lot more since generative AI tools were introduced, while only one sixth (17.7%) admit to earning less. “AI is creating more jobs than it takes. While many critics continue to speculate which jobs will be made redundant with AI tools, the data shows that freelance jobs which are labeled as the ‘most at risk to AI disruption’ are in fact growing. The preliminary results from our AI survey also dispel the myth that freelancer are earning less since the introduction of generative AI as more three quarters of workers we surveyed are either earning the same or earning more, with a subset taking advantage of AI and earning a lot more.” said Matt Barrie, Chief Executive at Freelancer.com. Cybersecurity threats are on the rise across all organizations, but are particularly harmful for small-to-medium sized businesses (SMBs) which have little-to-no security expertise and usually minimal protection. As a result, businesses turned to freelancers for help. In 2Q24, Computer Security jobs ranked as the fastest growing skills (up 27%), indicating there has been an uptick in cyber security threats targeting SMBs. Many of the projects posted throughout the quarter require help with network security, security assessments to identify potential vulnerabilities, and creation of cyber security response play books. General business services are also increasing on the platform as more employers are hiring freelancers to support their small businesses. A clear indication of this is the popularity of Market Research and Telemarketing jobs coming in as the fourth and fifth fastest growing skills in Q2 2024, up by 21.1% (from 1,525 to 1,859) and 19.4% (from 1,177 to 1,405), respectively. Other business related skills grew in Q2 2024, including Sales (up 15.5% from 3.467 to 4,005), Lead Generation (up 12.2% from 1,802 to 2,021) and Business Plans (up 10.9% from 1,197 to 1,328). A sudden increase in General business services means that many of the new businesses, which are usually started at the beginning of the year, now require further assistance in helping grow and scale their business. Fastest Falling Skills for Q2 2024 The main category of jobs that fell in Q2 2024 was eCommerce related jobs, which saw a significant increase in Q1 2024. Shopify Templates, ranked as the fastest falling skill and was down by 13% (from 1,476 to 1,284). CSS, which is commonly used in website development, was also down (11.8% from 9.486 to 8,368). Both WooCommerce (from 1.072 to 952) and Shopify (2,545 to 2,269) also fell in the quarter. The easing of eCommerce jobs in this quarter was mainly due to seasonality. Typically, entrepreneurs will start a business at the beginning of the year, requiring help to set up their websites or eCommerce platforms. From there, the entrepreneur either pivots to hiring freelancers for other business services, such as sales or research which we’ve seen in Q2 2024 fastest growing jobs, or are equipped with enough to run their business without any further help. Fastest Growing Overall Job The most popular online freelancing job by total volume is currently Graphic Design with almost double the amount of projects than the other top skills. Graphic Design is followed by PHP (programming), Photoshop, Website Design and HTML (programming). These are typically the best skills for any new freelancer to focus on initially when starting their freelancing journey. How Electronic Repairs Are Becoming the Fastest Growing Skill Globally Electronic Repairs has emerged as one of the fastest-growing job categories on the platform over the past year. In Q2 2024, it ranked 19th among the top 25 fastest-growing jobs, with a 10.7% increase (from 14,945 to 16,548 jobs). However, its most impressive growth is evident in the year-over-year comparison, where Electronic Repairs jobs surged by 162%, from 6,315 in Q2 2023 to 16,548 in Q2 2024. Electronic Repairs are in-person jobs where freelancers are deployed across select countries and cities to fix laptops, printers and computer hardware as part of the Freelancer Global Fleet Program. ##### Freelancer.com Fast 50 The Freelancer.com Fast 50 index is the world’s largest forward indicator of trends in online jobs related to industries, technologies, products, and companies. The data is based on 251,000 jobs posted to the Freelancer.com platform between 1st April to 30th June 2024. Data: Fast 50 Quarterly Index – Q2 2024 2023 Q2 v 2024 Q2 Fastest Growing Jobs for Q2 2024 Fastest Falling Jobs for Q2 2024 About Freelancer Twelve-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. More than 74 million registered users have posted over 23.8 million projects and contests to date in over 2,000 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer owns Escrow.com and Loadshift. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN and is quoted on OTCQX Best Market under the ticker FLNCF. Contact Details Freelancer.com Marko Zitko +1 650-800-6863 mzitko@freelancer.com

July 18, 2024 07:00 AM Eastern Daylight Time

Ocean Power Technologies CEO Philipp Stratmann Announces Contract for AI-Enhanced PowerBuoy

Ocean Power Technologies Inc

Ocean Power Technologies (OPT), a leader in innovative ocean energy solutions, has secured a significant new contract for the immediate delivery of a PowerBuoy equipped with Merrows, its cutting-edge Artificial Intelligence capable Maritime Domain Awareness Solution. CEO Philipp Stratmann shared this exciting news with Steve Darling from Proactive, highlighting that this contract, focused on deployment in the Middle East, is set to generate revenues within the current quarter. In his discussion with Steve Darling from Proactive, Stratmann emphasized that this achievement builds on the company’s previous announcement of its selection as a preferred supplier for its Merrows-equipped buoys in the region. This new revenue-generating contract underscores OPT’s continued business growth across all its product lines, including WAM-Vs (Wave Adaptive Modular Vessels) and PowerBuoys. Stratmann elaborated on the strategic importance of this shipment, which features a solar and wind-powered system. He noted that it demonstrates OPT’s capability to provide robust and versatile solutions capable of servicing a wide range of marine environments globally. The deployment of this AI-enhanced PowerBuoy not only strengthens OPT's presence in the Middle East but also exemplifies its commitment to delivering advanced maritime technology solutions worldwide. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

July 17, 2024 10:37 AM Eastern Daylight Time

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From Stage To Stage: How New Horizon Aircraft's eVTOLs Could Simplify Tour Logistics For Taylor Swift Sustainably

Benzinga

By James Blacker, Benzinga The world is on the precipice of a potential revolution in air mobility that could transform transportation and logistics in ways previously unimaginable. Electric vertical takeoff and landing (eVTOL) aircraft, such as those being developed by New Horizon Aircraft (NASDAQ: HOVR), are at the forefront of this revolution. With the promise of efficient, sustainable and rapid transit, eVTOL technology could make a massive impact on many industries, and this disruptive tech also has the potential to completely reshape tour logistics for popular artists like Taylor Swift. The Complex Logistics Of Major Music Tours Taylor Swift's tours are nothing short of spectacular. From sound and lighting equipment to intricate stage sets, pyrotechnics and elaborate costumes, her concerts require some serious planning and coordination. With an incredible 152 tour dates across five continents on her current Eras Tour, the logistics behind moving her team from city to city are mind-boggling. Normally, all this equipment would be transported via trucks, buses or even planes, all working together to make sure that everything arrives at the right place at the right time and in perfect condition. The problem with traditional logistics, however, is that no amount of meticulous planning can prevent unforeseen circumstances such as traffic congestion, road closures and bad weather conditions, all of which could be the undoing of a tight tour schedule. Delays can lead to significant financial losses for the artist and hordes of disappointed fans. Moreover, in today’s environmentally conscious world, the carbon footprint of such extensive travel is a major concern, highlighting the need for a more sustainable solution. Enter eVTOL Aircraft An innovative solution for tour logistics could be provided by eVTOL aircraft, a new technology being made possible thanks to rapid advancements in battery technology. These futuristic planes are designed to take off and land vertically, much like helicopters, which enables them to operate in congested urban areas with limited space for runways. Unlike helicopters, however, they have the added benefit of electric propulsion, making them quieter, more efficient and environmentally friendly. The list of use cases for eVTOL planes is extensive, from passenger transport to cargo delivery and medical transport. Their ability to bypass traffic congestion and cover large distances quickly makes them the perfect solution to the challenges presented by overcrowded modern cities. The unique design of eVTOLs means that they can operate easily in urban areas. An artist could land very close to the concert venue, completely eliminating the need to travel by road. Furthermore, they provide a safer and more secure mode of transport, with advanced navigation systems and reduced exposure to security threats on the ground. With the growing demand for sustainable practices across many industries, including entertainment, eVTOLs also provide an eco-friendly alternative to traditional transportation. By using electric propulsion, they produce zero emissions and significantly reduce the carbon footprint associated with touring. New Horizon Aircraft: Changing The Future Of Urban Air Mobility Among the companies developing eVTOL aircraft, New Horizon Aircraft (NASDAQ: HOVR) stands out with its unique product, the Cavorite X7. The seven-seat X7 uses a unique and patented wing design that allows it to take off and land vertically, but once in flight at a safe altitude, the wings reconfigure to become more like a traditional aircraft. The X7 can also land on a regular runway or deploy its fans to touchdown on a helipad or similar area. This unique design, coupled with its hybrid electric propulsion system, gives it several advantages over its competitors, with a maximum range of 500 miles, a maximum useful load of 1,500lb and a top speed of 250 mph as reported by New Horizon Aircraft. The company already has a 50%-scale prototype that has successfully demonstrated hover and forward flight and hopes to complete a successful transition flight soon. The Future Of Tour Logistics As urban air mobility continues to evolve with new technology, it is becoming increasingly clear that eVTOLs are not just a futuristic concept; they are a practical solution to the challenges of urban transportation. For artists like Taylor Swift, adopting this new technology for logistics purposes could mean increased efficiency, safety and sustainability, leading to smoother tours and happy fans. For more information on New Horizon Aircraft and its groundbreaking eVTOL technology, visit the company’s website. Featured photo by Chaz McGregor on Unsplash. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. 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

July 17, 2024 08:45 AM Eastern Daylight Time

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DB Schenker Showcases Thought Leadership in Import/Export Logistics Through New Video Series on the Port of Halifax

DB Schenker

DB Schenker, a global leader in logistics and supply chain management, is thrilled to announce the launch of an exclusive video series focused on the Port of Halifax. This series, designed for logistics experts and import/export professionals, highlights the Port of Halifax's strategic importance and innovative practices in global trade. The video series features insightful interviews with prominent figures, including: Marilisa Benigno, Honorary Consul of Italy, Atlantic Region Suzanne Rix, Honorary Consul of Germany for the Maritime Provinces Captain Allan Gray, President, and CEO of the Halifax Port Authority Jonathan Chia, Head of Commercial at PSA Halifax David Thomas, Executive Director at The PIER Key Highlights: Vision and Mission of the Port of Halifax: Capt. Gray elaborates on the Port of Halifax's mission to be Canada’s preferred gateway, emphasizing its global connectivity and economic impact. “Every day, we connect with markets in Central Canada, the U.S. Midwest and countries around the world,” said Capt. Gray. “These connections foster opportunities for business and support thousands of jobs today. Looking ahead, the port will continue to integrate innovation, sustainability and community into how we do business.” Economic Impact: The Port of Halifax is a significant economic driver. A recent study showed the port generates billions of dollars in economic activity annually, contributing $1.6 billion in labour income and supporting over 25,000 jobs in the region. Jonathan Chia discusses the port’s role in reducing logistics costs for inland Canada and its strategic positioning as a gateway port. Global Connectivity and Innovation: The port’s connection to more than 150 countries worldwide, along with substantial investments in mega cranes and digitalization, positions Halifax as a key player on the global stage. Sustainability and Community Engagement: The series delves into the port's collaborative efforts with the Port of Hamburg to accelerate decarbonization and sustainability initiatives. Capt. Gray will also highlight the port's commitment to community integration and sustainable growth through innovative projects and partnerships. Future Infrastructure Developments: Viewers will gain insights into the port's 50-year plan, which includes expanding rail capacity and optimizing existing infrastructure to meet future demand while focusing on sustainable growth. Strengthening Italy-Canada Relations: Marilisa Benigno, Honorary Consul of Italy, Atlantic Region shares the consulate’s efforts to strengthen ties between Italy and Canada through various initiatives, including visa facilitation, cultural events, and business collaborations. German-Canadian Collaboration: Suzanne Rix, Honorary Consul of Germany for the Maritime Provinces, discusses the burgeoning relationship between Germany and Halifax, particularly in the fields of hydrogen and wind energy. The collaboration between the Port of Hamburg and the Port of Halifax in seeking to decarbonize their respective route is a significant step towards sustainable trade practices. Innovation and the Living Lab: David Thomas, Executive Director at The PIER, explains the role of The PIER as Canada’s first living lab to help solve supply chain and logistics challenges. The PIER’s projects emphasize efficiency, resilience, transparency, and sustainability in supply chains. Catch the full Interviews on DB Schenker’s LinkedIn: The complete series of interviews is available on DB Schenker’s LinkedIn page, offering valuable insights for professionals in the logistics and supply chain sectors. Follow the link to stay updated and engage with industry leaders: DB Schenker LinkedIn. About DB Schenker With around 76,600 employees at more than 1,850 locations in over 130 countries, DB Schenker is one of the world’s leading logistics service providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive logistics and global supply chain management solutions from a single source. Aiming for a sustainable future of the logistics industry, DB Schenker continuously invests in innovative transport solutions, renewable energies, and low-emission products for its customers. Contact Details Nicholas Leighton +1 949-478-5880 nick.leighton@nettresultsLLC.com Company Website https://www.dbschenker.com/usa

July 16, 2024 11:55 AM Eastern Daylight Time

Standard Fleet and UP.FIT Partner to Modernize Government Electric Vehicle Fleet Management

Standard Fleet

Standard Fleet, an electric vehicle management technology developer, and UP.FIT, an Unplugged Performance company focused on the upfitting of Tesla electric vehicles for fleet use, today announced a collaborative initiative designed to enhance government electric vehicle (EV) fleet management. This effort brings together UP.FIT’s industry-leading expertise in customizing Teslas for specialty use with Standard Fleet's sophisticated fleet management software, aims to improve operational efficiency and support the environmental goals of government fleets including those managed by emergency responders and law enforcement. “Our collaboration with UP.FIT aims to equip police departments with the tools they need for a smoother, more cost-effective fleet management experience,” said David Hodge, Founder and CEO of Standard Fleet. “Integrating our software with UP.FIT’s customized Tesla vehicles means we can offer a system that improves operational efficiency while supporting environmental goals.” "Our mission at UP.FIT is to simplify the adoption of electric fleets for first responders and fleet operators globally,” said James Hedland, Fleet Director at UP.FIT. “Standard Fleet software gives operators complete control of the access, charging, maintenance, and dispatching of their up-fitted EVs. Together we’re providing police departments and other city and county fleet operators with an electric vehicle management system proven to enhance performance and operational efficiency." The partnership addresses a growing need for cost-effective and responsible deployment of EV fleets in public service by merging the expertise and capabilities of UP.FIT and Standard Fleet. This initiative is poised to redefine fleet management for government entities, enhancing both vehicle functionality and operational oversight. Key Benefits of the Partnership: Improved Operational Efficiency: Standard Fleet’s software streamlines the management of charging, maintenance, and daily operations of EVs, reducing both time and costs for fleet managers. Tailored Vehicle Customizations: UP.FIT modifies Tesla vehicles to meet the specific needs of police and public safety operations, enhancing their reliability and suitability for work in the communities they serve. Environmental Impact: The shift towards EVs helps reduce emissions and air pollution, and aligns with local, state, and federal environmental objectives. Sergeant Tony Abdalla from the South Pasadena Police Department, a client benefiting from this partnership, stated, “Adopting electric vehicles for police work presents a unique set of challenges along with opportunities to better serve our community with a cleaner, more reliable, and higher performance police fleet at lower costs over the long term. Standard Fleet technology gives us mobile access to all of our EVs to enhance our operations from dispatch, charging, maintenance, and analytics, to keyless access for officers coming on- and off-duty. Combining Standard Fleet software with the hardware and digital technology upgrades installed by UP.FIT puts our fleet at the forefront of sustainability and performance.” This initiative underscores the potential of technology to improve public sector operations and promotes the adoption of sustainable practices in fleet management. As police departments and other city and county fleet operators increasingly turn to electric vehicles, Standard Fleet and UP.FIT provides scalable, impactful, and effective solutions for the challenges of modern fleet operations. To learn more about this strategic collaboration, please visit here. Useful Links: Learn More: www.standardfleet.com About UP.FIT: https://up.fit/ Follow us: Blog | X | Instagram | LinkedIn Sales and Partnership Inquiries: Please email Standard Fleet at contact@standardfleet.com. About Standard Fleet: Founded in 2021 and based in San Francisco, Standard Fleet envisions a future where electric vehicle (EV) fleets are at the forefront of sustainable transportation, supporting a more environmentally friendly approach to urban mobility. The company’s software simplifies the management of electric vehicle fleets by enhancing operational efficiency and facilitating the transition to sustainable transportation. For more information, please visit www.standardfleet.com. About UP.FIT: Based in Hawthorne, CA, UP.FIT, an Unplugged Performance company, is the global leader in upfitting Teslas for fleet use. Launched in response to the growing need for advanced, sustainable fleet solutions, UP.FIT collaborates with industry leaders to engineer high-level components, turnkey vehicles, training, and innovative management tools. The UP.FIT mission is to provide first responders with the most innovative, safe and reliable equipment possible, all while driving to a cleaner tomorrow. Contact Details ANW Networks for Standard Fleet Alicia V. Nieva-Woodgate +1 720-808-0086 alicia@anwnetworks.com Company Website https://www.standardfleet.com/

July 16, 2024 11:30 AM Eastern Daylight Time

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The Tesla Of The Skies? How One Company Could Be About To Change The Aviation Industry Forever

Benzinga

By James Blacker, Benzinga Tesla (NASDAQ: TSLA) is without doubt one of the great success stories of the stock market, having seen its share price soar almost 1500% over the past five years. The company sold some 1.8 million vehicles in 2023, compared to 22,442 vehicles 10 years earlier in 2013. During the same period, its annual revenue grew to over $95 billion. With a market cap of over $800 billion, Tesla is now by far the largest automaker in the U.S. by market cap. By comparison, Toyota (NYSE: TM), the second-largest carmaker, has a market cap of a little over $270 billion. The success of Tesla can be attributed to numerous factors, not least its groundbreaking innovation, market disruption and commitment to sustainability. Just as Tesla has redefined the automotive industry, an emerging player seeks to do the same for the aviation industry. As the world looks to the skies for the next transportation revolution, New Horizon Aircraft (NASDAQ: HOVR) could be set to be a game changer for aviation with its hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft. Tesla's Blueprint For Market Dominance Tesla is best known as a pioneer in the electric car market that continues to innovate with its high-tech EVs and Supercharger network. The company has been a leader in the EV market for years thanks to its focus on cutting-edge tech, including the development of advanced battery systems and autonomous driving capabilities. Thanks in large part to Tesla, the auto sector has undergone a radical change in the last decade. Global EV sales reached 14 million in 2023, rising 35% from the previous year. This figure is more than six times higher than just five years earlier. In 2023 there were around 40 million EVs on the roads, and industry experts expect this number to continue rising – forecasts suggest that the global EV fleet will reach 250 million by 2030 and 525 million by 2035. EVs are set to play an important role in helping governments around the world achieve their net zero emissions targets. As such, Tesla’s success can also be attributed to its commitment to sustainability, which is at the core of its mission. The company says its products are designed to replace the planet’s biggest polluters. Last year, Tesla customers avoided releasing over 20 million metric tons of CO2 into the atmosphere. This focus on sustainability has resonated with consumers and propelled Tesla to become one of the most valuable companies in the world. New Horizon Aircraft: The Tesla Of The Skies? New Horizon Aircraft is positioning itself to emulate Tesla’s success as a company at the forefront of a new era in aviation, dedicated to revolutionizing air travel through innovative and sustainable tech. Founded in 2013 by a father-and-son team with extensive flying experience, Horizon Aircraft’s team of elite aerospace engineers is developing a hybrid eVTOL aircraft called the Cavorite X7. This aircraft uses a patented fan-in-wing design that lets it take off and land vertically like a helicopter but reconfigure en route to fly like a traditional aircraft. Redefining Aviation With Cutting-Edge Technology Much like Tesla, Horizon is continually innovating and developing new technology for its aircraft design. In contrast to many other eVTOL aircraft, the Cavorite X7 uses a hybrid electric main power system, which means it can recharge its battery array mid-flight and post-flight. Horizon says that this hybrid electric system, coupled with its patented fan-in-wing design, allows the Cavorite X7 to go faster and farther and carry more useful load than its competitors. According to the company, the X7 will have a maximum range of 500 miles, a maximum useful load of 1,500lb and a top speed of 250 mph. Horizon is also innovating with advanced autonomy and control systems that aim to make flight operations safer and more efficient. The company’s technical innovations will not only allow precise control during takeoff, landing and flight but also pave the way for a fully autonomous eVTOL in the future, pending regulatory acceptance. In line with its vision, sustainability is a key aspect of Horizon’s design philosophy. The Cavorite X7’s hybrid electric system reduces fuel consumption, meaning it can operate with up to 30% less hydrocarbon emissions than conventional aircraft performing similar operations, according to the company. Furthermore, as battery technology continues to advance, the Cavorite is expected to become fully electric, which will further reduce its environmental impact. Additionally, Horizon says its aircraft could bring costs down some 30% even compared to a helicopter carrying out a similar regional transport mission and at twice the speed. Transforming Urban And Regional Mobility With their small design and ability to take off and land vertically, eVTOL aircraft are ideal for transporting people and goods within urban areas. They are therefore seen as a solution to the global problem of traffic congestion, which leads to lost time, increased fuel consumption and high emissions. A recent study found that road congestion results in up to $200 billion in lost productivity annually. With the growing need for efficient and sustainable mobility solutions, eVTOL aircraft have the potential to transform urban mobility. With a wing design that allows it to fly farther, Horizon’s Cavorite X7 sets itself apart from other eVTOL aircraft as it is also ideal for regional air mobility (RAM) – short-haul travel connecting regions that are underserved by traditional airline routes. This capability means Horizon could be poised to capitalize on a global RAM market that is expected to grow to $115 billion by 2035. In addition to passenger travel for the RAM market, Horizon expects the X7’s uses to range from medical evacuation to natural disaster response, emergency surveillance and search and rescue. Navigating Challenges As with any disruptive technology, some challenges will need to be overcome before it becomes fully accessible to the wider public. Firstly, regulatory bodies, such as the Federal Aviation Administration (FAA), need to adapt to the rapid advancement of eVTOL technology – new products will require rigorous testing and certification processes before they can be approved. Regulators must also consider factors such as developing rules for safe flight in urban areas and air traffic control. The final hurdle to overcome for the eVTOL industry will be gaining market acceptance. It will be important to educate the public and stakeholders about the safety and benefits of this new technology in order to build trust. Adoption could come sooner than you think, however, with the FAA saying last year that it expects the first eVTOL to begin commercial operations around late 2024 or early 2025. A Vision For Tomorrow’s Skies The potential for a transformative shift in the aviation industry is immense. Just as Tesla reshaped the automotive landscape, Horizon Aircraft has the opportunity to do the same for aviation. The company envisions a future where air travel is more efficient, accessible, sustainable and integrated into our daily lives. Through continuous innovation, New Horizon Aircraft aims to make this vision a reality. Featured photo by Lars Nissen from Pixabay. 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

July 11, 2024 08:35 AM Eastern Daylight Time

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