Transportation

Airlines Automotive Electric Vehicles Logistics Maritime
News Release Digital Asset Direct

Travelers Institute and Cambridge Mobile Telematics Release Educational Guide to Help Curb Distracted Driving

YourUpdateTV

The Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE: TRV ), recently released “ Every Second Matters®: Reducing Distracted Driving, One Voice at a Time,” an educational guide published in partnership with Cambridge Mobile Telematics (CMT), the world’s largest telematics company. “The guide highlights new statistics that show how risky driving behaviors, such as speeding and texting behind the wheel, accelerated during the pandemic,” said Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers. “Throughout the report, we provide an eye-opening account of the dangers of distraction and arm drivers with important resources for staying safe on the road.” The Every Second Matters guide outlines steps motorists can take to improve their driving habits, including: · Adopt a professional driver’s mindset: Hands on wheel, eyes on road, mind on driving. · Don’t be a distraction: According to the 2022 Travelers Risk Index, nearly 80% of drivers make or take calls while driving, so avoid becoming the distraction – don’t call or text employees, family members and friends while they are on the road. · Activate “Do Not Disturb”: Use this setting while driving to silence notifications and avoid distractions. · Speak up: Let risky drivers know of their dangerous behavior and encourage others to do the same when they are passengers in a car. · Get feedback: Consider enrolling in a telematics program that provides feedback as well as incentives for driving safely. The report also highlights the benefits of telematics programs. Data from CMT shows that drivers who open their telematics app more than three times a week are 65% safer and 57% less distracted than those who don’t. “Telematics programs are changing behaviors and reducing distractions on the road,” said Ryan McMahon, Senior Vice President of Strategy at CMT. “By joining a telematics program, drivers are learning about their habits and improving roadway safety for all. Consumers are seeing these benefits, and telematics programs are more popular than ever as a result.” Other key findings from CMT include: · More than 35% of car trips involve some type of phone distraction. · More than 35% of distracted driving happens over 50 mph. · The most distracted drivers are 2.2 times more likely to crash than the least distracted drivers. Through the Every Second Matters distracted driving education initiative, the Travelers Institute publishes materials and hosts events that encourage drivers, passengers, cyclists and pedestrians to play an active role in changing roadway behaviors. To learn more about the Travelers Institute and read the Every Second Matters educational guide, visit travelersinstitute.org. About Cambridge Mobile Telematics Cambridge Mobile Telematics (CMT) is the world’s largest telematics service provider. Its mission is to make the world’s roads and drivers safer. The company’s AI-driven platform, DriveWell®, gathers sensor data from millions of IoT devices — including smartphones, proprietary Tags, connected vehicles, dashcams, and third-party devices — and fuses them with contextual data to create a unified view of vehicle and driver behavior. Companies from personal and commercial auto insurance, automotive, rideshare, smart cities, wireless, financial services, and family safety industries use insights from CMT’s platform to power their risk assessment, safety, claims, and driver improvement programs. Headquartered in Cambridge, Massachusetts, with offices in Budapest, Chennai, Seattle and Tokyo, CMT serves millions of people through 80 programs in 18 countries, including 21 of the top 25 US auto insurers. For more information, visit cmtelematics.com. About the Travelers Institute The Travelers Institute, the public policy division of The Travelers Companies, Inc., engages in discussion and analysis of public policy topics of importance to the insurance marketplace and to the financial services industry more broadly. The Travelers Institute draws upon the industry expertise of Travelers’ senior management as well as the technical expertise of many of Travelers’ underwriters, risk managers and other experts to provide information, analysis and solutions to public policymakers and regulators. Travelers is a leading provider of property casualty insurance for auto, home and business. For more information, visit Travelers.com. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

December 06, 2022 04:33 PM Eastern Standard Time

Secro Wins Approval from the International Group of P&I Clubs

SECRO

The International Group of P&I Clubs (the Group) added Secro as an approved electronic bill of lading provider. Established in 2021, Secro is an independent technology company helping buyers and sellers of bulk commodities to digitize their core business workflows and optimize working capital. Approval by the Group ensures that liabilities arising in respect to the carriage of cargo under such paperless trading are covered. The legal documentation and terms of use associated with the use and operation of Secro system, as well as the Secro electronic bill of lading, were reviewed and approved by the Group. Secro, which is a proud member of BIMCO, provides a frictionless digital trade documentation platform that is safe, trustable and seamless. The customer is onboarded to the Secro platform with a nimble click-through process and can collaborate with its trading partners in minutes. Internal due diligence is simplified by robust yet concise terms of use and conditions of carriage. Further, the Secro platform enables the customer to invite its trading partners on the platform, for free, just by sharing a secure link at any given stage of the transaction, allowing unprecedented flexibility. Secro Co-Founder and CEO, Michele Sancricca stated: “Our customers asked us to build a platform to easily create securely exchanged electronic bills of lading with anyone in the world without the need for cumbersome private agreements. This innovative approach delivers the ease of adoption that legacy providers did not achieve.” Truly viable electronic bills of lading, able to replace traditional paper-based documents, has been a chimera for decades. Thanks to Secro proprietary technology’s compliance with the latest digital trade laws, for the first time the adoption of electronic bills of lading really offers speed, security and cost savings. With Secro’s ease of use, and the Group’s approval, traders, shippers, banks and ship owners can digitally transact with confidence. Sancricca wants the maritime community to appreciate that this is just the beginning for Secro. “Secro E-bill of lading is only the first product we are launching in this arena. Customers will find in Secro a one-stop-shop to digitize their end-to-end trade workflows.” At SHIPPINGInsight 2022, Secro received the organization’s Innovation Award by securing the most support from investors and shipowners in the SHARK TANK. Secro is currently available to selected customers with the public launch expected during Q1 2023. For more information on the company go to Secro. Contact Details Morgan Marketing & Communications Carleen Lyden Walker +1 203-260-0480 c.walker@morganmarketcomm.com Company Website https://secro.io/

December 06, 2022 10:38 AM Eastern Standard Time

Image

News Release

Are You Confident About Your Vehicle’s Repairs?

AutoTech IQ

Many car owners dread making an appointment with auto repair shops because they feel unprepared to carry on a discussion with the service adviser about the need and cost of repairs. That lack of preparation creates unease over whether to even go to the shop for fear of being ripped off. AutoTechIQ.com was created to make car owners overcome that initial fear by being preeducated and confident about what symptoms and related fixes are typical for their specific vehicle type and compare the visible and audible symptoms their vehicle shows with images, videos and descriptions in articles. A typical example is a squealing noise while driving. How Does Preeducation Make Me Confident? By preeducating yourself before a meeting with the shop, you’ll ensure that you have the proper details to share with a service adviser. For example, if your car starts emitting oil-like odors, you can browse through AutoTechIQ and find articles that cover oil-related issues, such as “Why does my car smells like burning oil?” Then, by reading the article’s content and comparing the images and videos with your vehicle’s symptoms, you’ll rule out potential problems and their fixes. Note that AutoTechIQ’s articles feature images, videos and sound representations of typical issues that point to specific symptoms. There, you’ll also find information about certain vehicles’ years, makes and models that commonly portray these symptoms and the usual faulty parts involved. Get the knowledge you need and share it with your go-to auto shop; this will make a discussion about the service’s budget more transparent and precise. What Is the Best Approach When Engaging the Service Adviser? Often, shops focus on fixing the symptom and send you back on the road. That approach implies less money spent on an individual visit but adds up over time. Tell the service adviser about the symptom and ask for a digital vehicle health inspection, which will give you the entire vehicle’s state of health. The best approach when dealing with a service adviser during car service is to ask for a digital vehicle health inspection. This type of inspection aims to make you aware of your car’s current condition and future risks; it creates a state of health for your car. This approach focuses on saving you money in the long run by showing your vehicle’s “possible upcoming issues” and how impactful they can be for your wallet and your safety. Why Repairs Based on the State of Health Save You Money Once the state of health information is in your hands, showing in red, yellow and green and substantiated with images and videos and notes what your vehicle’s health is, you can engage the service adviser in what needs to be done now (red), can be deferred (yellow) and is in mint condition (green). Certified AutoTechIQ shops follow a process guaranteeing a comprehensive report, which lets you budget the current and upcoming repairs. If the shop is certified the digital vehicle health inspection is called a Digital Auto Checkup. More specifically, the state of health record shows, in color-based categories, what type of risk your vehicle has. The colors identify as: Red: Needs urgent assessment Yellow: Can be deferred Green: Mint condition at the time of inspection This is also substantiated with images, videos and notes to clarify the condition as much as possible. When taking your car to a certified AutoTechIQ shop, you’ll have education-focused service. The state of health they offer will be a comprehensive report where you’ll budget the current and upcoming repairs confidently. Note that for AutoTechIQ-certified shops, the term you can use for this inspection is Digital Auto Checkup. Why Is It Important to Ask for a Digital Auto Checkup? Many auto repair shops listen to your concern and immediately provide a solution. When you go to any doctor for a symptom checkup, does the doctor immediately diagnose you? Typically they don’t do that unless you are in the emergency room. Instead, they’ll check your vital signs, test your blood and conduct other testing procedures. The same goes for your vehicle during car service. First, you establish baseline health before addressing the main symptom. The vehicle’s bill of health is called Digital Auto Checkup or Digital Vehicle Health Inspection. What Do You Get From AutoTechIQ as a Car Owner? The majority of car owners dread the appointment at an auto repair shop. To counter that, the shops in AutoTechIQ ’s network put your education and professional service as top priority. Additionally, the shops you’ll find in AutoTechIQ’s business directories follow these criteria: The business has at least 100 Google reviews with an average score higher than 4.5 out of 5. A digital vehicle health inspection is consistently relied upon to examine the health of your vehicle and covers at least 35 topics. The documentation of mint and problem conditions uses images and videos to give you complete transparency. Contact Details AutoTech IQ AutoTech IQ +1 866-678-8505 support@AutoTechIQ.com Company Website https://www.autotechiq.com/

December 05, 2022 04:02 PM Eastern Standard Time

As EV Manufacturers Look To Reduce Fire Hazards, Electrovaya Aims To Offer The Safest Lithium Ion Battery In The Industry

Electrovaya Inc.

As electric vehicles (EVs) from Tesla Inc. (NASDAQ: TSLA), General Motors Co. (NYSE: GM), Ford Motor Co. (NYSE: F) and Stellantis NV (NYSE: STLA) catch fire in the wake of Hurricane Ian, manufacturers have placed renewed urgency on finding safer, less fire-prone batteries to power their EVs. The outbreak of EV fires mirrors the aftermath of Hurricane Sandy in 2012 when over 300 EVs manufactured by Fisker Inc. (NYSE: FSR) caught fire in Newark, New Jersey. To address those serious safety issues, Electrovaya Inc. (OTCQB: EFLVF) has spent decades refining its proprietary Infinity Battery platform to offer one of the safest lithium-ion batteries on the market. Here’s what sets its technology apart from the rest. Solving Lithium Ion Battery Safety Issues Remains An Industry Wide Challenge Leading EV battery suppliers like LG Energy Solution Ltd. (KRX: 373220), Panasonic Holdings (OTCMKTS: PCRFY) and Contemporary Amperex Technologies Co. Ltd. (SHE: 300750) have been working hard to improve the safety of their technology but still face regular recalls. That’s because lithium-ion batteries are fire-prone by nature. The liquid electrolyte that the battery’s charge flows through is a highly flammable solvent.While certain design features can help minimize safety and fire risk, defective materials, damage, or the gradual degradation of materials with time can all make the battery more vulnerable to failure. Electrovaya’s Infinity Battery Aims to Set the Standard for Safety in Lithium Ion Technology To make its Infinity Battery platform as safe as possible, Electrovaya uses a pouch cell design with a proprietary electrolyte optimized to withstand high temperatures and a unique woven ceramic separator that can withstand extreme heat. That design ensures multiple levels of thermal protection to decrease the likelihood of a fire while the pouch cell design offers a final stop-gap safety measure to contain any fire within the sub-module where it ignited, thereby preventing flames from escaping the enclosure. In addition to the safe design of the battery cells themselves, Electrovaya has developed its own cloud-based Battery Management System that monitors battery health, temperature and charging state to anticipate repairs and maintenance needed as well as automatically shut down the battery when it detects unsafe conditions. It’s features like these that helped the battery successfully pass safety testing to receive UL 2580 certification, an industry safety standard for EV batteries. The technology, having already been used to power about 20,000 Daimler smart cars, Electrovaya says batteries with the Infinity Technology has had zero safety incidents to date, making them one of the few lithium ion battery platforms have no known safety incidents. About Electrovaya Inc. Electrovaya Inc. (TSX: EFL) (OTCQB: EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Company's Infinity line of batteries is focused on commercial vehicles and its Solid State Technology under Development is focused on passenger vehicles. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Jason Roy +1 905-855-4618 jroy@electrovaya.com Company Website http://www.electrovaya.com

November 30, 2022 08:00 AM Eastern Standard Time

News Release

Alarmed By Frequent Car Smells? AutoTechIQ Can Help You With That

AutoTech IQ

Bad smells are an age-old problem that affects cars to this day, regardless of how modern they are. Although bad car smells are evident, they can be tricky to track down.. So, we’ll share tips to help you detect the bad smell’s root cause in your car and assist you in getting rid of it. Can I eliminate the smell myself? AutoTechIQ suggests that any odd odor coming from the car needs a professional inspection. An analysis of millions of work orders across North America reveals that the problem is commonly more critical than it appears. Taking your car for a Vehicle Health Inspection is highly recommended; this professional procedure shows a snapshot of your vehicle’s health status, pointing to any damage and smell sources. Visit AutoTechIQ.com and use the shop selector to find the best-suited shop in your area. Shops have three certification levels that you can choose from: Certified, Recommended, and Good Standing. You can find easy-to-digest educational content about car smells and how to fix them on AutoTechIQ.com. And don’t worry, you won’t have to read technical lingo and jargon; we make it friendly. What are the most common car smells? We list common problematic car smells below. If you're experiencing any of those, visit AutoTechIQ.com and find the article that matches your experience. Then, send it to your trusted auto repair shop for reference. My Car Smells Like Burning Oil My Car Smells Like Burning Plastic My Car Smells Like Burning Rubber My Car Smells Like Rotten Eggs What other symptoms should I look for? A distinct smell is often the most dominant symptom, but it might not be the only one. For example, a failed serpentine belt pulley makes a burnt rubber odor and can make a noticeable noise. Reoccurring problems are especially concerning, and it is important to describe the context of these issues to your trusted auto repair shop. Knowing the problem's characteristics helps the professional eliminate up to 90% of the potential root causes, saving you a lot of money for unnecessary diagnostics or repair. What should be my budget when taking my car to an auto repair shop? Traditionally, most car owners follow the service interval recommendation provided by their trusted auto repair shop or just go to the shop when problems arise. Most of the time, the latter is the most expensive way of taking care of your vehicle since it adds to each visit’s cost. Using a preventive maintenance plan from your trusted auto repair shop opens opportunities to discuss future expenses or deferred services. You can start budgeting for future expenses and still save money because preventive maintenance is significantly more cost-effective than paying the repair cost when problems occur. Condition-based inspections take the preventive maintenance concept even further. Your auto repair shop conducts a vehicle inspection every time you drop off your vehicle. The results are compared to previous inspection diagnostics to determine wear and tear patterns. Based on those patterns, the shop discusses the best course of action with you. Why is it important to ask for a Digital Auto Checkup? Many auto repair shops listen to your concern and immediately provide a solution. But, in comparison, when you go to any doctor for a symptom checkup, does the doctor immediately diagnose you? Typically, they don’t do that unless you are in the emergency room. Instead, the doctor will order a vital signs check, blood draw, and other testing procedures. The same goes for your vehicle during car service. First, you establish baseline health before addressing the main symptom. The vehicle’s bill of health is called “Digital Auto Checkup” or “ Digital Vehicle Health Inspection.” What do I get from AutoTechIQ as a car owner?? The majority of car owners dread the appointment at an auto repair shop. To counter that, the shops in AutoTechIQ ’s network put education and professional service as top priorities. Additionally, the shops you’ll find in our business directories meet these criteria: The business has at least 100 Google reviews with an average score higher than 4.5 out of 5. A digital vehicle health inspection is consistently relied upon to examine the health of your vehicle and covers at least 35 topics. The documentation of mint and problem conditions uses well-documented images and videos to give you complete transparency. Contact Details AutoTech IQ +1 866-678-8505 support@AutoTechIQ.com Company Website https://www.autotechiq.com/

November 28, 2022 03:26 PM Eastern Standard Time

News Release

Why People Aren’t Calling Auto Repair Businesses

AutoTech IQ

In case you haven’t noticed, the world of communications is changing. And that includes customer calls and service requests in the auto repair business. In the past, the automotive repair business centered around phone calls and one-on-one interactions with customers. But today’s customers expect more. Digital communication and education are the foundation of today’s successful auto repair businesses. If you haven’t implemented these changes in your shop, learn about why digital tech has replaced yesterday’s phone communication. 7 Reasons Auto Repair Businesses Aren’t Getting Calls The younger generations grew up using technology, which has changed how they interact with businesses. They no longer want to call a business but prefer to communicate via text, view data-driven estimates and pay with online invoices. In other words, they require more transparency and want to understand the particulars of what they are paying for. In fact, in one study, the majority of those surveyed prefer digital communications when getting car repairs. The advent of digital communication not only gives your customers those benefits, but it also helps you build essential trust as you earn their business. Fewer People Want to Talk Because people prefer to do business digitally, they want instant access to the information that will help them decide which business to go to. One survey shows that 80% of all local searches result in a sale. But that same survey explains that the people doing the local search want to easily find the business’s number, address and product offerings. In other words, they want to skip the call — and the wait to speak with someone — and get all the pertinent information from their phone. Not Optimizing the Mobile Experience Because most people use their phones to make purchases and set appointments, the auto repair shops that have a mobile app that allows for easy online booking will attract those customers. No one wants to wait 10 minutes on the phone trying to set an appointment. Instead, they want to log onto the website, choose from the available appointments, and schedule one. An app allows customers to do things on their own schedule and not have to worry about making a decision while someone is waiting on the other end of the line. Lack of Quality Customer Service What’s worse than having to call a car repair shop for an appointment or an explanation about your car’s issues? Dealing with someone on the phone who isn’t helpful or friendly. If your customers must call your shop, it’s important to ensure they speak with someone who shows they care. And forget about old-school sales techniques when explaining the potential repairs. Today’s customers want digital proof of what’s wrong with the car and what it will take to fix it. Give your customers more emphasis on helpful and specific details to gain their trust. Long Wait Times People want access to quick information online, but that doesn’t mean they don’t expect superior service when they do have to call or interact with a technician. A survey shows that 75% of callers won’t leave a voicemail, and 85% of them will not call you back if you don’t answer the phone. And because many auto repair shops have a reputation for long wait times on the phone and in person, it’s something that needs to be addressed. Ideally, car repair shops will reduce call wait times, drop-off wait times, service wait times and the amount of time it takes to complete paperwork — all in addition to offering digital communication to their customers. Lack of Quality Customer Service Did you know that 90% of people use customer service as a factor when deciding whether to do business with a company? And 58% of those surveyed say they will switch companies because of poor customer service. In the automotive repair business, customer service often comes down to whether a business uses digital communications to allow customers to view their car repair options. These digital reports and estimates make customers feel in control and allow for better decision-making. Lack of Transparency Most people don’t know how to fix their own car, and they look for an auto technician they can trust to do the job for them. If a technician doesn’t explain a needed repair — or worse, recommends an unnecessary repair — they aren’t going to gain the trust of their customers. Today’s customers want digital proof of needed repairs from techs like AutoTechIQ-certified auto repair shops, where a vehicle’s bill of health is the basis of their recommendation. They can view digital reports and feel confident they have full transparency when making decisions. Digital Vehicle Inspections Seeing is believing, as the old saying goes, and that’s true when it comes to auto repairs. That’s why digital inspections are the new norm when it comes to auto repairs. These digital inspections show customers the whole picture of their car’s health with videos, high-resolution photos and detailed notes. And once a customer sees for themself what’s needed, they tend to approve two to three times the amount of work than when given verbal explanations. Give Customers the Control and Confidence They Need The auto repair shops that give today’s customers what they need are the shops that will thrive in this new marketplace. If you haven’t yet used digital communications and reports, contact AutoTechIQ now and find the best shop in your area. Contact Details AutoTech IQ +1 866-678-8505 support@AutoTechIQ.com Company Website https://www.autotechiq.com/

November 28, 2022 02:51 PM Eastern Standard Time

Foresight to Present at the Sidoti December Microcap Virtual Conference

Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, today announced that the Company will present virtually at the Sidoti December Microcap Conference on December 7, 2022. The virtual conference will include a live company presentation on December 7, 2022 at 1:00 PM EST by Eli Yoresh, Foresight’s Chief Financial Officer and Doron Cohadier, Foresight’s Vice President of Business Development. The presentation can be accessed using this link here. Management will also be available for 1-on-1 meetings on December 7 and 8, 2022. To schedule a meeting, contact your Sidoti representative or Miri Segal at msegal@ms-ir.com. For more information, please visit Foresight’s Investor Relations page here. About Foresight Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn. Contact Details Investor Relations Contact: Miri Segal-Scharia, CEO, MS-IR LLC +1 917-607-8654 msegal@ms-ir.com Company Website https://www.foresightauto.com/

November 28, 2022 08:30 AM Eastern Standard Time

Volatus Aerospace Expands Product Distribution to US Market with Acquisition of Empire Drone Company LLC.

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) (“Volatus” or “the Company”) announced today that it has signed an arm’s length definitive agreement to acquire Syracuse-based Empire Drone Company LLC., one of North America’s fastest-growing distributors and integrators for unmanned aerial systems. With Fortune Business Insights projecting the commercial drone market to grow to $47.38 billion by 2029 at a CAGR of 28.58%, the addition of Empire Drone in the USA positions Volatus to capitalize on this opportunity by adding to its growing global presence in key markets for green drone technologies, which includes Volatus Aerospace LATAM in South America, Omniview Tech in Canada, and iRed Remote Sensing in the UK. “Volatus is already a major distributor and developer of civil and defence drone solutions in Canada,” said Glen Lynch, CEO of Volatus Aerospace. “The addition of Empire Drone solidifies our footprint in America and positions us for improved margins and accelerated growth in America with a US depot and US-based support.” “Joining Volatus provides Empire with the resources needed to accelerate our growth,” said Sean Falconer, CEO and founder of Empire. “We’ll become a more important partner for our existing OEM suppliers and increase our offering with Volatus technologies such as the Aerieport remote nesting station, Hydra Crawler, and other Volatus defence and public safety products. It’s long been my goal to be a dominant player in the United States and this deal will give me the resources needed to get there.” Empire Drone is expected to generate revenue of C$2.5M in 2022 with a 6% EBITDA margin. Under the terms of the agreement, Volatus will purchase 100% of the company for a cash consideration of US$300,000, equity of US$350,000 with a minimum floor price of $0.65, and earn out of US$350,000 paid in equity after one year anniversary based on the 30-day volume weighted average price (VWAP) with a minimum floor price of $0.65 per share and assume the long-term debt of US$225,000. This announcement marks another step in a series of interrelated commercial milestones intended to drive and scale the commercialization of drone technologies including: Announcement of Volatus Aerospace LATAM, a joint venture with EOLO Drones S.A.C. ("EOLO") to expand Volatus' commercial operations in Latin America. Introduction of a full-service financing program for enterprise and industrial drone equipment to help drone service providers, public safety agencies and industrial clients leverage the rapid evolution of related technologies by offering rental, usage contracts, and customized funding arrangements for the sale of its Drone Solutions targeted at transactions valued from $25,000 to over $2,000,000. Acquisition of iRed Remote Sensing based in Emsworth, England to provide a foundation for continued growth in the UK. The acquisition of Empire Drone is scheduled to close on December 31st conditional on satisfactory completion of due diligence, approval of the respective Board of Directors, and regulatory approval by the Toronto Stock Exchange. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Information This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (if) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; the completion of the Offering; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release.” Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 514-447-7986 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

November 28, 2022 06:30 AM Eastern Standard Time

Image

VinFast exports the first batch of electric vehicles

Vingroup

HAI PHONG, VIETNAM - Media OutReach - 25 November 2022 - VinFast held a ceremony to mark its first batch of exports of smart electric vehicles including 999 VF 8s to international markets. This event is a remarkable milestone in the history of Vietnam’s automotive industry as Vietnamese-branded electric cars have officially entered the global market. The first batch of 999 VF 8s has been exported to the United States. This batch was transported by the Silver Queen – a Panamanian charter ship – and is expected to arrive in a California port (USA) about 20 days after deporting from MPC Port in Hai Phong, Vietnam. The first VinFast customers in the US can expect their cars by the end of December 2022. This international export is the first batch of the 65,000 global orders already made for VinFast’s VF 8 and VF 9. Following this first batch of cars for the American market, VinFast will continue to export more VF 8 lots to Canada and Europe for customer deliveries in early 2023. The first VF 9 models will be handed over to customers in Vietnam and international markets in the first quarter of 2023. At the ceremony, Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup, said:“The export of the first 999 VF 8s is a significant event for VinFast and Vingroup and a proud historical milestone for the Vietnamese automotive industry. It affirms that Vietnam has successfully produced high-quality standards electric vehicles that are ready to compete in the international market. We hope that, when VinFast’s smart electric vehicles roll out on the streets around the world, it will help promote the image of a new, dynamic and progressive Vietnam to the global audience.” With a luxurious design, integrated advanced smart technologies, attainable pricing, and best-in-class after-sales policies, the VF 8 and VF 9 are VinFast’s premium electric SUV models in the D and E segments. In addition to individual customers, VinFast has also received exceptional attention from fleet companies. At the Los Angeles Auto Show 2022, from November 17 to 28, 2022, VinFast announced a new order signed with Autonomy, the largest car subscription service firm in the US. In addition to the VF 8 and VF 9, VinFast’s smart electric vehicle lineup comprises the VF 5, VF 6, and VF 7 in the A, B, and C segments, respectively. VinFast is expected to initiate reservations of the VF 5, VF 6, and VF 7 soon to meet the diverse needs of global customers. Exporting the first batch of Vietnamese-made VF 8 units has opened a new era for the country's automotive industry. In addition to affirming Vietnam’s capability, the major export actualizes the country’s passion for mastering automotive production held by many generations and contributes to raising the country's position on the global stage. About VF 8 The VinFast VF 8 is a 5-seater electric SUV in the D segment with overall length, width, and height dimensions of 4,750 mm x 1,934 mm x 1,667 mm, respectively. Vehicles are equipped with advanced driver assistance system (ADAS), including a series of advanced features that will be added and updated regularly, such as highway assist, automated lane changing assist, smart parking assist, smart summon mode, remote parking assist, and many more. In addition, a suite of Smart Services with integrated in-car entertainment and utility features such as vehicle voice control, remote vehicle management via the VinFast application, online shopping, playing video games on the car screen that sync passenger phones, and much more to bring an immersive experience to users. The VF 8 has two trims, Eco and Plus. The VF 8 Eco version is equipped with an electric motor with a maximum power of 260kW, a maximum torque of 500Nm, and a battery with a target full-charge range estimate of 420km (WLTP standard). The VF 8 Plus version is equipped with an electric motor with a maximum power of 300kW, a maximum torque of 620Nm, and a battery with a target full-charge range estimate of 400km (WLTP standard). The absolute advantage of an electric motor over an internal combustion engine is its ability to instantly achieve maximum torque, which helps the VinFast VF 8 accelerate impressively, operate smoothly, and bring a completely different driving experience. About VinFast VinFast - a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam. Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.com. About Vingroup Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of $35 billion USD from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology and Industry, Services and Social Enterprise. Find out more at: https://www.vingroup.net/en. Contact Details Media Contact v.phuongmt8@vingroup.net Company Website https://vinfastauto.com

November 25, 2022 08:30 AM Eastern Standard Time

Image

1 ... 65 66 67 68 69 ... 142