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

Benzinga

By Faith Ashmore, Benzinga The technology of Hollywood may finally be catching up to real life in another area. In the realm of electric vehicles (EVs), electric Vertical Take-Off and Landing (eVTOL) aircraft have gotten some attention from the press, the public and investors. From large international majors like Hyundai (OTCMKTS: HYMTF) to newer eVTOL companies like New Horizon Aircraft (NASDAQ: HOVR) (“Horizon Aircraft”), eVTOLs may be the way of the future. With population growth and urbanization on the rise, traffic congestion is becoming a pressing concern for citizens and city planners alike. A recent study conducted in the U.S., France, Germany and the U.K. reveals that road congestion results in up to $200 billion in lost productivity annually. Governments are also racing to transition away from gasoline-powered vehicles that contribute to global emissions and climate change. Advanced Air Mobility (AAM) offers a cost-effective, environmentally friendly and safer way to travel, presenting a disruptive alternative to traditional air travel and cargo systems. eVTOLs are among the solutions for the future. Horizon Aircraft is working on its prototype eVTOL, the Cavorite X7, which is designed for longer-range regional passenger, cargo and special missions. Their 50%-scale prototype has already successfully demonstrated hover flight and the company believes it may complete a successful transition flight before the end of Q1 of 2024. One of the key aspects that sets Horizon Aircraft apart from competitors like Joby Aviation (NYSE: JOBY) and Lilium NV (NASDAQ: LILM) is that it prides itself on the expertise of its team, comprised of professionals with extensive backgrounds in the aviation industry. Led by a highly skilled former fighter pilot, the company leverages collective knowledge gained from years of military and commercial aviation experience. The rest of the team at Horizon Aircraft consists of a group of engineers, pilots and business specialists who are committed to pushing the boundaries of regional transportation. The company is also vertically integrated; all of its composite manufacturing, 3D printed advanced carbon fiber thermoplastics, custom electronics, control systems and more are completed in-house. The company boasts that its product takes off and lands like a helicopter but has the capacity to fly almost twice as fast with lower operating costs. Unlike most of its competitors, Horizon’s Cavorite X7 uses a hybrid electric power system that should enable a top speed of 450 km/h, carrying 1,500 lbs of useful load for more than 800 km. A recent report by Morgan Stanley predicts that AAM will encompass a total addressable market of $1.5 trillion by 2040. “The intersection of many technologies, such as ultra-efficient batteries, autonomous systems, and advanced manufacturing processes are spawning a flurry of activity in this space," shared Adam Jonas, Head of Morgan Stanley's Global Auto and Shared Mobility research team. Horizon Aircraft also recently published a global study that showed an overwhelming majority (96%) of professional investors recognize the increasing global demand for improved transportation systems, coupled with the imperative to reduce the environmental footprint resulting from increased road congestion. The study’s findings included that investors also believe the advancements in technology that demonstrate the safety and feasibility of eVTOL aircraft will catalyze movement in the regulatory landscape and attract substantial investments to the sector within the next five years. Horizon Aircraft is looking to capitalize on these markets. Brandon Robinson, CEO of Horizon Aircraft, shared, "Private equity, venture capital and family office investors have been closely monitoring the Advanced Air Mobility sector for some time, but are now seeing an acceleration towards the launch of the first commercial eVTOL passenger routes. The sector has already attracted significant investment, and we anticipate that this will only increase as ongoing developments in technology provide new investment opportunities in this rapidly expanding market that has the potential to revolutionize transportation." Featured photo courtesy of Horizon Aircraft. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 12, 2024 08:25 AM Eastern Daylight Time

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

MAR LLC

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

March 11, 2024 01:00 AM Eastern Daylight Time

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

NAFA Fleet Management Association

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

March 07, 2024 02:00 PM Eastern Standard Time

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

Salvaggio Design

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

March 07, 2024 06:15 AM Pacific Standard Time

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

SFAA

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

March 04, 2024 11:55 AM Eastern Standard Time

NAFA Announces Brian Fielkow as Keynote Speaker for 2024 Institute & Expo

NAFA Fleet Management Association

NAFA Fleet Management Association (NAFA) proudly unveils Brian Fielkow, safety expert and leader, as a keynote speaker for the upcoming NAFA 2024 Institute & Expo. The event, renowned as the premier gathering of fleet and mobility professionals, will take place from April 22-24 in San Antonio, TX. Brian is an esteemed leader in safety-sensitive industries, and brings over thirty years of executive leadership experience, particularly in transportation and logistics, to the I&E stage. As the Executive Vice President of Risk Resources at Acrisure, Brian provides strategic guidance to select companies, drawing from his distinguished career dedicated to fostering robust safety cultures. His expertise has earned him accolades such as the Distinguished Service to Safety Award from the National Safety Council. “NAFA is thrilled to welcome Brian Fielkow as a keynote speaker for our 2024 Institute & Expo,” said Bill Schankel, CAE, CEO of NAFA. “Brian’s wealth of experience in safety-sensitive industries and his commitment to cultivating safety cultures align perfectly with NAFA’s mission. His session promises to equip attendees with actionable strategies to enhance safety and drive success within their organizations.” During his keynote address, titled "The Roadmap to Fleet Safety," Brian will share invaluable insights into cultivating a safety-driven environment within organizations. Attendees can expect to gain practical tools and concepts to instill a behavior-based culture of safety, enhancing accountability and operational excellence. Brian’s session will delve into key topics such as distinguishing safety as a core value, the pivotal role of leadership in driving safety initiatives, and strategies for inclusive engagement across all levels of an organization. Attendees will also learn about deploying metrics, breaking down silos and fostering a "just culture" that prioritizes prevention. I&E attracts thousands of fleet professionals from a variety of fields, including corporate, government, public safety, utility, education and more. The three-day conference offers a blend of education, impactful conversations, networking opportunities, and products and services from the industry’s leading suppliers. More information about the I&E schedule can be found here. Prospective exhibitors are encouraged to secure their space early to ensure prime placement in the I&E Expo Hall. For more information about reserving an exhibit booth, please visit NAFA’s website. Sponsorship opportunities can be secured here. This year’s current sponsors include Bestpass Inc., FASTER Asset Solutions, Geotab, Holman, Legend Fleet Solutions, Merchants Fleet, Motive, Samsara, Shell Fleet Solutions, Stellantis, U.S. Bank Voyager, WEX and Wheels, Inc. NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

March 01, 2024 02:00 PM Eastern Standard Time

S&U PLC navigates economic and regulatory challenges, eyes future growth

S & U PLC

S&U PLC chairman Anthony Coombs delved into the company's trading statement for the 12 months ended 31 January 2024 in an interview with Proactive's Stephen Gunnion. Despite a challenging year due to a number of headwinds facing the sector, the motor and property finance group remained resilient, with improving prospects. Coombs attributed the past year's to the cost of living increase and heightened regulatory activities by the Financial Conduct Authority, aimed at protecting customers under economic pressure. This regulatory environment created headwinds for S&U, slightly impacting its results. Consequently, pre-tax profits are expected to be 10 to 15% below analysts' consensus. However, Coombs said the flow of new business into both of S&U's sectors—motor and property finance—is robust, with the company facing challenges in collections due to regulatory scrutiny. S&U's diverse business model, including its Advantage motor finance and Aspen bridging loan business, has helped it navigate pressures. Aspen, in particular, saw cumulative repayments increase by more than 50%, benefiting from high demand in the SME sector for development and refurbishment loans—a demand not fully met by traditional banks. This diversification is expected to aid in the company's recovery, especially as economic conditions improve. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 22, 2024 10:46 AM Eastern Standard Time

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NAFA Announces 2024 Board of Directors

NAFA Fleet Management Association

NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, proudly announces its new 2024 Board of Directors, led by Mike Camnetar, CAFM, Fleet Services Manager for General Mills Inc. NAFA’s Board of Directors comprises professionals from many sectors and enterprises, including technology firms, urban municipalities, foodservice enterprises, healthcare entities and more. “As we dive into the heart of our bylaws and strategic plan this year, it's clear that we're charting a course towards a stronger, more cohesive NAFA,” said Mike Camnetar, CAFM, NAFA Board President. “By embracing inclusivity in our governance and refining our strategic focus, we're not only enhancing the association's vitality but also fostering a more vibrant community for our members. This year's Board of Directors, with its diverse expertise and unwavering commitment, stands ready to spearhead this transformative journey, ensuring that every decision made reflects our dedication to advancing NAFA's mission and serving the needs of our esteemed members.” The following individuals serving on NAFA’s 13-member 2024 Board of Directors: President: Mike Camnetar, CAFM Fleet Services Manager for General Mills Inc. Senior Vice President: Maria Neve Vice President - eFMC Services for Inspiration Mobility Vice President: Kevin Fisher, CAFM Fleet Professional Secretary/Treasurer: Beth Cooley, CAFM Director for the Commonwealth of Virginia Office of Fleet Management Immediate Past President: Raymond Brisby, CAFM Manager of EMS Fleet Operations for Alberta Health Services Sara Burnam, CAFM, Member Director of Fleet Management for Palm Beach County, FL Fleet Management Al Curtis, Member Fleet Director for Cobb County, GA Fleet Management David Hayward, CAFM, Member Global Fleet Manager for ABM Industries Amy McAdams, CAFM, Member Fleet Manager for Climate Pros William McCarty, Member Chief Operating Officer for Illinois Central Management Services Bob Mossing, Member Manager of Fleet Support and Operations for The Davey Tree Expert Company Alexis Reece, CAFM, Member Fleet Analyst for Ferguson Enterprises Steven Saltzgiver, CAFS, Member Director of Strategic Innovation for RTA Fleet Management Software NAFA is pleased to welcome these expert fleet professionals and skilled individuals to the 2024 Board of Directors. Their dedication to the fleet and mobility world inspires innovation, creates progress and truly keeps the industry moving. For more information on NAFA, visit: https://www.nafa.org/ NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes; and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and Twitter. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

February 21, 2024 02:00 PM Eastern Standard Time

Stifel North Atlantic and ASTRO America Announce a First-of-its-Kind Private Equity Fund Under New DOD-SBA Initiative

ASTRO America

Small Business Administrator Isabel Guzman and National Economic Council Director Lael Brainard announced at a White House event last Wednesday that the partnership between Stifel North Atlantic (NYSE: SF) and ASTRO America is the first recipient of a “Green Light” to raise private capital for an SBIC Critical Technologies (“SBICCT”) fund. Officially called the AM Forward Critical Technologies SBIC, the Fund is actively fundraising and moving forward with the final SBA licensing process. The SBA-DoD SBICCT initiative is the first program under a historic SBA-DoD collaboration, launched by Secretary of Defense Lloyd Austin and SBA Administrator Guzman in December 2022. By pairing private capital with SBA administered leverage, the initiative will support private sector investment in US national security-vital component-level technologies and production processes. The structure will achieve the important mission of bolstering U.S. national security and the Defense Industrial Base without reliance on deficit funding, while supporting American small businesses. “This new Fund is important to both our national security and American competitiveness,” said ASTRO co-founder and President, Neal Orringer. “Not only will it provide essential financial support to small and medium-sized manufacturers, but it will help modernize key supply chains, helping accelerate adoption of technologies such as metal 3D printing that are increasingly important to America’s defense and aerospace industries.” He continued, “We are grateful for the DoD and SBA’s leadership in developing innovative approaches for catalyzing the injection of private capital into critical defense supply chains, at no cost to the taxpayer.” ASTRO America leads the White House’s AM Forward initiative, which includes a compact between the Administration and seven iconic American lead system integrators. The AM Forward member companies identified access to capital as a key barrier to eliminating bottlenecks, modernizing and increasing resiliency within their supply chains, particularly in metal castings and forgings. In early 2023, ASTRO selected Stifel North Atlantic as the financial partner to manage the SBIC Fund based on Stifel’s rich history of support for small and middle market companies and extensive experience managing SBIC Funds. ASTRO will lead the Fund’s Technical Advisory Board. “We are deeply committed to both our unique partnership in the SBICCT fund as well as with the SBA more broadly,” shared Victor Nesi, Stifel Financial Co-President. “The SBA has made remarkable progress in developing innovative ways to reach out, support and nurture the small business ecosystem that is so foundational to our organization. We are also grateful for the thought leadership provided to this project by key AM Forward member Lockheed Martin (NYSE: LMT).” Mike Nitka, Managing Director at Stifel North Atlantic offered, “This fund is a rare opportunity to mix purpose and passion. We are advancing the adoption of mission-ready production technology for the US aerospace and defense supply chain while supporting the journey of emerging US small businesses. Through this revolutionary partnership with the SBA, DoD, ASTRO America, and our anchor investors, we have the opportunity to create jobs and build US manufacturing capacity. I applaud all involved as this is a truly unique non-partisan approach to solving for a universal American need – national security.” During the event, in addition to key Biden-Harris Administration officials from the White House, SBA and DoD, Stifel and ASTRO executives also met with leading investors from the financial industry and executives from major aerospace and defense companies. With committed strategic and financial investors, Stifel North Atlantic and ASTRO expect to complete the final phase of the SBICCT licensing process and execute a first closing on the Fund in the coming months. After the initial closing, the Fund will begin actively investing in small business manufacturers to help strengthen the U.S. aerospace and defense supply chains. The White House readout of the event can be read here and the SBA overview of the event can be read here. More information on the SBA-DoD SBICCT initiative can be found here. The Applied Science and Technology Research Organization of America (ASTRO America) is a 501(c)(3) not-for-profit, non-partisan Research Institute and Think Tank. It was established in 2018 to advance the public interest through manufacturing technology and policy. Led by manufacturing professionals with broad public and private sector experience, ASTRO America supports collaborations by government agencies and companies to address supply chain challenges in highly regulated industries, including aerospace and defense. Find out more: https://www.astroa.org/ Established in 1890, with headquarters in St. Louis, Missouri, Stifel is a full-service financial services firm with a distinguished history of providing securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, institutions, corporations, and municipalities. Contact Details Elizabeth Heaton +1 202-445-9858 elizabeth@astroa.org Company Website https://www.astroa.org

February 21, 2024 07:00 AM Eastern Standard Time

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