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GlobeTopper and Knox Wire Announce $50 Million Global Payment Partnership

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News provided by

GlobeTopper

Nov 26, 2022, 16:19 ET

GlobeTopper and Knox Wire announce global payment partnership. The collaboration will power payout capabilities world-wide.

HOUSTON, Nov. 26, 2022 /PRNewswire/ — (PRUnderground)

GlobeTopper and Knox Wire announce global payment partnership. The collaboration will power payout capabilities world-wide.

GlobeTopper is an award-winning prepaid B2B gift card concierge firm that helps clients navigate the ever evolving digital payments landscape.

They help their clients grow their businesses by providing them API access to an extensive and evolving catalog that includes brands from across the globe and a broad range of verticals.

Knox Wire is the ideal option to process payments to nearly 30,000 financial institutions across 190 countries. Knox Wire’s real-time gross settlement system keeps track of the progress of every transaction in real-time, ensuring rapid payments and information exchange across a global market.

The partnership, orchestrated by Zed Network, will facilitate same day payouts in 190+ countries for GlobeTopper.  GlobeTopper will also utilize Knox Wire’s payout system and FX services to add new providers and expand available products.

Knox Wire’s Chief Executive Officer, Stephen McCullah, says: “The partnership between Knox Wire and GlobeTopper is an exciting opportunity to allow both companies to provide better financial services globally in a dynamic digital payments environment.”

About GlobeTopper

GlobeTopper seeks to assist clients in maximizing their value in the digital economy. By accepting currencies such as USD, EUR, GBP, and CAD, GlobeTopper is proud to be a forerunner in the future of digital payments. Bearing the timeous nature of payments in mind, GlobeTopper can ensure that services run seamlessly.

Contact: info@globetopper.com

Website: globetopper.com

Contact:

Josh Hutchison – PR Manager

press@knoxwire.com

Website: knoxwire.com

About Zed Network

Based in Toronto, Canada, Zed is a global payments technology platform that connects MSBs, MTOs, PSPs, neobanks and fintech companies to cross border payment options using banks, blockchain, mobile wallets and cash networks.

Media contact

PR@zed.network

Website: www.zed.network

About Knox Wire

Knox Wire is a cross-border payment system combining the financial messaging capabilities of Swift, with the real-time gross settlement capabilities of the most powerful RTGS systems.

Press Contact

Josh Hutchison
+27617217112

SOURCE GlobeTopper

https://www.prnewswire.com/news-releases/globetopper-and-knox-wire-announce-50-million-global-payment-partnership-301687440.html

Bitget launches major campaign with Messi to reignite confidence in the crypto market

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News provided by

Bitget

Nov 26, 2022, 02:00 ET

Tenacious efforts with USD 20 Million investment in campaigns and rewards

VICTORIA, Seychelles, Nov. 26, 2022 /PRNewswire/ — Leading global cryptocurrency exchange, Bitget, has announced a series of marketing campaigns with Lionel Messi, the Argentinian Football legend, with the launch of the brand film to celebrate the 2022 World Cup. With this USD 20 Million investment in campaigns and rewards, Bitget aims to benefit users with attractive rewards, help enhance market sentiment and reignite confidence in the crypto industry.

Bitget announced its partnership with Lionel Messi with the first announcement campaign “A Perfect 10” in late October, receiving an overwhelming response from the general public, Bitget community and partners. The exchange will launch the next marketing campaign titled, “Make it Count” during the 2022 World Cup period, with a new brand video and a series of exciting marketing plans.

To further engage our users with the football craze, Bitget has arranged multiple giveaways and exclusive rewards with social contests and World Cup-themed activities, including up to 1 Million BGB and a jersey signed by Lionel Messi himself. Bitget is also hosting its biannual derivatives tournament, KCGI, themed around football and the World Cup, with a prize pool of up to 100 Bitcoin (BTC) and popular fan tokens. This is all part of Bitget’s efforts to help reassure investors and benefit Bitget users with different initiatives, as enthusiasm towards the World Cup helps facilitate the connection between the crypto universe and the sports world.

Gracy Chen, Managing Director of Bitget, comments “Bitget is invested in the future of crypto and Web3. The bear market does not deter our goal of becoming a Top 3 crypto exchange within 3-5 years. Due to some collapses of a few crypto giants this year, consumers’ trust has fallen to a low point, and that is the reason why we are ramping up the efforts on both product and marketing to show our dedication to building the best social trading experiences for our users.”

“Partnering with the GOAT inspires us to strive for the best performance, and the World Cup period is the best time to remind ourselves about the importance of building and training for the moment to shine. We would like to celebrate the football spirit in the world of crypto and are prepared to continue investing in the ecosystem even when times are tough,” Gracy adds.

Earlier this month, Bitget implemented a few initiatives to strengthen trust and show credibility to consumers, including launching the 5 million Builders’ Fund and raising the Protection Fund size to USD 300 million.  The exchange has also announced expanding its global strategy with a registered entity in Seychelles, as well as adjusting its hiring plan to a team of 1200 by Q1 2023 this week.

About Bitget

Bitget, established in 2018, is the world’s top five leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.

The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborations with creditable partners, including Argentinian legendary footballer Lionel Messi, Italian leading football team Juventus, PGL Major’s official esports crypto partner, and the leading esports organization Team Spirit.

SOURCE Bitget

https://www.prnewswire.com/news-releases/bitget-launches-major-campaign-with-messi-to-reignite-confidence-in-the-crypto-market-301687422.html

Hall of Fame Resort & Entertainment Company Announces Inducement Equity Grants

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News provided by

Hall of Fame Resort & Entertainment Company

Nov 23, 2022, 19:30 ET

CANTON, Ohio, Nov. 23, 2022 /PRNewswire/ — Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football and owner of the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, today announced that it granted John Rozak, as an inducement to accept his appointment as Vice President Marketing with HOF Village Newco, LLC (“HOF Village”), 22,123 restricted stock units (the “RSUs”) with respect to the Company’s common stock, $0.0001 par value. The Company also granted Joshua Law, as an inducement to accept his appointment as Director of Business Intelligence with HOF Village, 19,917 RSUs. In addition, the Company granted Eric Kohut, as an inducement to accept his appointment as Senior Legal Counsel, Corporate Governance and Compliance with HOF Village, 36,200 RSUs. The grants were made as inducement awards in accordance with the offers of employment of Messrs. Rozak, Law and Kohut and were not granted under the Company’s Amended 2020 Omnibus Incentive Plan (the “2020 Plan”) but are subject to substantially the same terms and conditions as the 2020 Plan. For each new employee, the grants, which are subject to award agreements, will vest in one-third increments on each of the first, second and third anniversary of such new employee’s start date, subject to continued service through each applicable vesting date.

About the Hall of Fame Resort & Entertainment Company

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus. Additional information on the Company can be found at www.HOFREco.com.

SOURCE Hall of Fame Resort & Entertainment Company

https://www.prnewswire.com/news-releases/hall-of-fame-resort–entertainment-company-announces-inducement-equity-grants-301686597.html

Sapia.ai raises $17 million Series A funding round led by Macquarie Capital & W23 – part of the Woolworths Group.

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News provided by

Sapia.ai

Nov 22, 2022, 19:00 ET

MELBOURNE, Australia, Nov. 22, 2022 /PRNewswire/ — Building on the continuing success of its AI solution in delivering diversity and inclusion in hiring, Sapia.ai today announced a $17 million Series A raise led by Macquarie Capital and Woolworths Group’s W23 venture capital arm.

Dan Phillips, co-founder of Macquarie Capital’s Venture Capital business, said that his team was impressed and excited by the technology solution that Sapai.ai has created and how it is using AI to provide a better way for companies to approach and solve for diversity and inclusion.

“We’ve all been talking about the value of diversity for some time, but many companies are still not equipped to bring about real change.  This is primarily because we fail to acknowledge our human biases,” Phillips said.

“Sapia’s Smart Chat Interviewer has redefined what a fair recruitment process can be.  It is blind, it is efficient, and it is backed by valid, peer-reviewed science.”

Woolworths Group has been using Sapia.ai for 12 months and is providing funding through its investment arm, W23.

Ingrid Maes, Managing Director of W23, said the program had helped reshape the Group’s hiring process and improved the experience of candidates applying for roles.

“Woolworths Group is always recruiting and we see tens of thousands of applications processed annually in our supermarket business. This new technology positively impacts bias during the recruitment process,” Ms Maes said.

“Not only does it provide a flexible platform for our recruitment teams, we’re really pleased with the experience our applicants have in the process ultimately delivering the hiring and equality outcomes we strive for across the Group.

Sapia’s AI powered automation platform is centered around a blind, untimed and asynchronous chat interview transforming the speed and quality of hire whilst removing bias from the hiring process.

Barb Hyman, Sapia.ai founder and CEO, describes the mission of Sapia “to make equity in the workplace a reality”.

“Our customers are seeing extraordinary results – and seeing them fast.” Hyman said.

“We give them data and insights that let them track fairness and bias in their decisions across the employment journey.

“I’m excited to have Macquarie and Woolworths investing in our technology – it’s an incredible validation for my team who have been committed to our mission from the get go and we can’t wait to open our technology to new markets.”

For the Australian-founded company, the investment comes at a time of huge growth, with customer numbers more than doubling over the last year.  Funds from the raise will be used for continued overseas expansion, including making the product available in multiple languages.

About Sapia

Sapia is focused on helping companies unlock and engage talent at scale. With its blind, automated chat interview and comprehensive DEI analytics platform, Sapia’s technology is the first solution of its kind to disrupt biases that affect traditional recruitment processes, delivering fair outcomes for candidates and companies.

Media Contacts

Barb Hyman barb@sapia.ai

SOURCE Sapia.ai

https://www.prnewswire.com/news-releases/sapiaai-raises-17-million-series-a-funding-round-led-by-macquarie-capital–w23—part-of-the-woolworths-group-301684953.html

Demotech – The Rating Agency that Stepped Up

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News provided by

Demotech, Inc.

Nov 22, 2022, 20:09 ET

COLUMBUS, Ohio, Nov. 22, 2022 /PRNewswire/ — An editorial in a recent Insurance Advocate, authored by Steve Acunto, Editor and Publisher, referenced Demotech, Inc. as the “rating agency that stepped up in its rhetorical outreach to better a marketplace in which it plays a key role.” Acunto also noted that with the Governor (of Florida) and many state leaders calling for another special session prior to year-end 2022, “this implies that the May 2022 reforms were not up to the task.”

The Insurance Information Institute has estimated that since Hurricanes Ian and Nicole made landfall more than 630,000 claims have been reported in Florida. To date, catastrophe modelling results and initial carrier estimates indicate that direct damages will be within the reinsurance towers purchased by Demotech-rated carriers.

According to Demotech’s President and Co-founder, Joseph L. Petrelli, “When analyzing insurer operating results the legislative, regulatory, and judicial environment may be considered in Demotech’s review where legislation, regulations, or judicial decisions could materially impact an insurer’s financial position or its ability to operate consistently given the market conditions of a particular jurisdiction. Regulatory practices or regulatory actions may affect the operating environment of insurers positively or negatively. Such actions may relate to product regulation, financial regulation, or market regulation. In some instances, legislation or judicial decisions may also alter the operating environment or risk exposures of certain insurers by altering the policyholder claims and litigation environment or the insurance regulatory environment. We hope that the efforts of the May 2022 special session, enacted on July 1, 2022, benefit Floridians who have been hard hit by Ian and Nicole.”

About Demotech, Inc.

Since 1985, Demotech has served the industry by assigning accurate, reliable, and proven Financial Stability Ratings® to P&C insurers and Title underwriters. Demotech was the first to review independent, regional and specialty insurers, 1989. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for additional information.

[EDITORIAL] STEVE ACUNTO, EDITOR & PUBLISHER, INSURANCE ADVOCATE

Of Fevers and Thermometers:

The Coming Florida Insurance Market Gets the Shivers

Ian hit Cape Cayo at 155 m.p.h. Wallop. Too late to start thinking. Too late for “feel good” plans.

In a flash, first responders and insurers were hit with tidal waves that have yet to subside.

But in Ian’s wake, there has been time to reflect for real on the insurance industry’s performance, its readiness and its future in the Sunshine State. While some domestic insurers, like Centauri among others, fared quite well and served clients amiably and effectively, others are close to insolvency – or there already –for reasons other than the direct impact of Ian.

Thirty years after Hurricane Andrew devastated Florida’s residential property insurance marketplace, many in Florida are – incredibly – blaming the thermometer – the measuring instruments of insurer solvency – for the fever afflicting the marketplace. In 1996, when the major insurer rating agencies avoided the newly capitalized insurers depopulating the Florida Residential Property and Casualty Joint Underwriting Association (JUA), Demotech, Inc.,the insurer rating agency accepted by Fannie and Freddie since 1990, stepped up to rate the insurers that would de-populate the JUA.

Leading up to Ian, Demotech’s warnings in the form of rating downgrades, using their standard of “claims paying ability”, were seen as purely “negative” and destructive, as if the thermometer caused the fever.

Demotech long ago inserted itself into one of the most difficult, catastrophe prone markets in the world. By doing so, the rating agency grew from rating a negligible market share of Florida’s premium volume to nearly 60% of the homeowners’ volume in the state. Year after year, and hurricane after hurricane, Demotech rated carriers, many of which were heavily reinsured by the largest and finest reinsurers in the world, paid claims and responded responsibly to the other challenges of that marketplace.

By the time it became well known that Florida’s 8% of the unresolved Homeowners’ claims in the country were responsible for nearly 80% of the litigated homeowner’s claims in the country, Demotech had already underlined that a veritable litigation explosion was plaguing insurers, those it reviewed and rated, and others. They were so familiar with the issue that, in March, 2022, when the legislature adjourned without deliberating legislative reforms, Demotech publicly asked the Governor, House and Senate to call a special session to introduce legislative reforms.

The Governor called for a special session. Legislation was enacted to be effective July 1, 2022. However, in late July, with the crescendo of disparate litigation getting louder and some Demotech rated carriers failing, Demotech was attacked for asking carriers how they would continue to respond to the increasing levels of litigation. Some stated that Demotech was being obstinate because the legislative reforms enacted did not go as far as its communications had suggested.

Demotech held its ground and argued that the level of litigation and the laws enabling lopsided decisions were destroying insurers. Dr. Shahid Hamid, CFA, the Director of the International Hurricane Research Center at Florida International University, published an article in October describing how fraud and litigation are causing insolvencies, not hurricanes. Having asked its clients for an assessment of the damages associated with hurricane Ian, a category 4, nearly category 5, event, Demotech has indicated that it appears that all Demotech rated carriers are within their vertical reinsurance towers. The wild card was litigation ….and still is.

As to the attacks on Demotech related to its failure to consider the impact of the reforms enacted on July 1, 2022, reforms that may not have occurred had Demotech not spoken out publicly to request a special session, the Governor and many state leaders are calling for yet another special session prior to year-end 2022. This implies the May 2022 reforms were not up to the task.

Now, just to be clear, Demotech is NOT a lobbying agency, it is a rating agency that stepped up in its rhetorical outreach to better a marketplace in which it plays a key role. Many would consider that quite a decent, well intended gesture.

A little research reveals that in the nearly three decades that it has factored critically in the resuscitation of Florida’s residential property insurance marketplace, Demotech has done excellent public service, right up to its recent advocacy.. Yet, often, they have been ignored. Or attacked.

Today, it is clear that they have been judicious, careful and, above all, right about the solvency of many insurers in the face of a hurricane as serious as Ian and in the disproportionate litigation outcomes in Florida.

Our view, the State of Florida – its top decision makers in Tallahassee in the legislature and in insurance – should confer with Demotech and conference in some of the successful carriers who withstood Ian to set a path forward, while enduring disparate levels of litigation.

The patient, if anything, needs the best measuring devices available to gauge its fever and the progress of its recovery.

SOURCE Demotech, Inc.

https://www.prnewswire.com/news-releases/demotech–the-rating-agency-that-stepped-up-301685779.html

TZP Group Partners with Soccer Post

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News provided by

TZP Group

Nov 21, 2022, 19:31 ET

Alex Morgan joins Soccer Post as an investor and Brand Ambassador

NEW YORK, Nov. 21, 2022 /PRNewswire/ — TZP Group (“TZP”), a multi-strategy private equity firm, announced today its investment in Soccer Post Holdings, LLC (“Soccer Post” or the “Company”), the largest local-market-focused omni-channel soccer specialty retailer in the United States. Soccer Post’s mission is to provide an authentic soccer retail experience to local soccer families in every market it serves. TZP’s partnership will help Soccer Post accelerate expansion into new markets and communities.

Soccer Post has been offering soccer apparel, footwear, and gear to enthusiasts, clubs, athletes, and families across the United States for over three decades. The Company has established itself as the go to destination for soccer families and one of the leading national omni-channel specialty retailers across e-commerce, physical stores, and institutional channels.

“We have experienced significant growth and have unprecedented opportunities to scale the business nationally through multiple channels. We needed to find a partner with expertise in omni-channel retailing and the capital to support our anticipated growth” said Sarah Jett, Chief Brand Officer of Soccer Post. “We selected TZP for their track record with omni-channel retailers, portfolio of authentic brands, and their confidence in our team and our vision for the future of soccer specialty retail.”

“Our goal was to find an investment partner that understood and valued how special our business model is to soccer families and brought expertise to help Soccer Post’s national expansion strategy. TZP has a long track-record as a management-focused partner with insight and resources to support management teams in executing ambitious growth plans for their businesses. Their experience in activewear and lifestyle companies, their operating expertise with disruptive business models, and their commitment to our shared vision made TZP a perfect fit for Soccer Post” said Blake Sonnek-Schmelz, Chief Executive Officer of Soccer Post.

“When we met Blake, we knew that he and his team had built something truly special,” said Rodney Eshelman, TZP Partner. “Soccer Post is a well-known, national brand and its reach across channels is compelling. What is most compelling is the authenticity that the Soccer Post brand brings to the soccer communities it serves. We look forward to adding our resources and support to help Blake and his team scale the business.”

Alongside TZP, Soccer Post announced that Alex Morgan has become an investor and Brand Ambassador. Mr. Sonnek-Schmelz said, “As a leader both on and off the field, Alex Morgan represents everything we look to bring to our Soccer Post community. We are thrilled to have her join the team and continue to elevate our plans for community interaction across the nation.” Alex Morgan, Soccer Post investor and future Soccer Post store owner added “Growing up, I loved visits to local soccer shops. I’m excited to share my passions for the beautiful game and advancing women’s soccer with the leading authentic omni-channel soccer specialty retail company in the United States. Together with Soccer Post, I will support the next generation of soccer families and communities.”

About Soccer Post

Acquired in 2011 by Blake Sonnek-Schmelz (CEO) and headquartered in Eatontown, NJ, Soccer Post is the largest local-market-focused omni-channel soccer specialty retailer with over 30 store locations in the United States. Soccer Post has been offering soccer apparel, footwear and gear to enthusiasts, clubs, athletes, and families across the United States for over three decades. Soccer Post’s mission is to provide an authentic soccer retail experience to local soccer players in every market it serves. The Company has established itself as the go to destination for soccer families and one of the leading national omnichannel specialty retailers across e-commerce, physical stores, and institutional channels. For more information, please visit www.soccerpost.com.

About TZP Group

TZP Group, a multi-strategy private equity firm managing approximately ~$2 billion across its family of funds, is focused on control, growth equity, and structured capital investments in technology, business services, and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.

For more media inquiries please contact:

Dan Gaspar, Partner, TZP Group | dgaspar@tzpgroup.com

Disclosures:

Certain statements about TZP made by portfolio company executives herein are intended to illustrate TZP’s business relationship with such persons, including with respect to TZP’s facilities as a business partner, rather than TZP’s capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in TZP-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein. TZP does not make any representation or warranty as to the accuracy or completements of the information contained herein and it should not be assumed that investments made in the future will be comparable in quality of performance to the investments described herein.

SOURCE TZP Group

https://www.prnewswire.com/news-releases/tzp-group-partners-with-soccer-post-301684487.html

The American Carbon Registry (ACR) has partnered with AirCarbon Exchange (ACX) to offer ERT on the Exchange

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News provided by

AirCarbon Exchange

Nov 21, 2022, 20:35 ET

ABU DHABI, UAE, LONDON and SINGAPORE, Nov. 22, 2022 /PRNewswire/ — AirCarbon Exchange (ACX), the global exchange revolutionizing the Voluntary Carbon Market (VCM), is pleased to announce a partnership with the American Carbon Registry (ACR), a nonprofit enterprise of Winrock International and a leading carbon offset registry program, to offer Emission Reduction Tons (ERTs) on the ACX Platform.

Through this partnership, ACR Account Holders can offer ERTs on ACX’s Auctions platform and also facilitate back-to-back Over-the-Counter (OTC) transactions through ACX. The partnership allows for ACX Members who do not have ACR Account to access ERTs for their carbon asset management. At the same time, this partnership offers ACR Account Holders more opportunities to reach new clients and routes to sell ERTs through the direct link to ACX’s international member list of over 150 members.

Lauren Nichols, ACR Managing Director said, “ACR is excited to link with ACX to expand market access to ERTs as voluntary carbon market demand continues to grow. We are pleased to facilitate the opportunity for ACR Account Holders to offer and transact their credits with a wider range of market participants via the ACX platform.”

William Pazos, Managing Director and Co-Founder of ACX said, “We are pleased to announce the partnership with ACR and create a direct connection between ACR Account Holders and ACX Members. We look forward to working closely with the ACR team to broaden the carbon offerings available to ACR and ACX members in the future to enable broader carbon market participation.”

To learn more about ACX, please visit www.aircarbon.co or follow us on LinkedIn.

About AirCarbon Exchange (ACX):

AirCarbon Exchange (“ACX”) is a global exchange revolutionizing the voluntary carbon market. The Exchange’s client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its participants with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest transaction fees available on the market. Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.

ACX was recognized as the Best Carbon Exchange globally in Environmental Finance’s prestigious Voluntary Carbon Market Rankings, the largest and most closely watched survey of the world’s Voluntary Carbon Market, for two consecutive years (2021, 2022). ACX was also named as the ‘Best Solution in Energy Trading’ by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are ‘Winning the Race to Reinvent Energy’.

For more information or to trade carbon, please reach out to info@AirCarbon.co or visit www.aircarbon.co

SOURCE AirCarbon Exchange

https://www.prnewswire.com/news-releases/the-american-carbon-registry-acr-has-partnered-with-aircarbon-exchange-acx-to-offer-ert-on-the-exchange-301684455.html

ESR’s ARA announces milestone partnership with the Export-Import Bank of China for US$1 billion infrastructure fund

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News provided by

ESR Group Limited

Nov 21, 2022, 02:22 ET

  • China ASEAN Investment Cooperation Fund II is the largest ASEAN-focused private infrastructure fund and this represents ESR Group‘s first infrastructure fund
  • Fund will invest in infrastructure, energy resources including renewables, and information and communications (“ICT”) sub-sectors, with a strong focus on sustainability and ESG standards

SINGAPORE and HONG KONG, Nov. 21, 2022 /PRNewswire/ — ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), Asia-Pacific (“APAC”)’s largest real asset manager powered by the New Economy, today announced its wholly-owned subsidiary, ARA, has entered into a milestone partnership with the Export–Import Bank of China for the closing of a US$1 billion infrastructure fund – China-ASEAN Investment Cooperation Fund[1] II (“CAF II”). ARA Private Fund’s infrastructure arm, ARA Infrastructure, has also been appointed as investment adviser by the Export–Import Bank of China, the main anchor sponsor of the fund. This follows Chinese Premier Li Keqiang’s speech at the 25th China-ASEAN Summit highlighting the support of major infrastructure and energy projects in ASEAN.[2]

The Export-Import Bank of China, Gezhouba Group Overseas Investment Corporation, China Road & Bridge Corporation and ARA have together committed US$1 billion to CAF II. The fund will invest in ASEAN countries across various infrastructure, energy resources including renewables, and ICT sub-sectors, with a strong focus on sustainability and ESG standards.

Jeffrey Shen and Stuart Gibson, ESR Co-founders and Co-CEOs, said: “We are very proud of our ARA Infrastructure team for setting up the largest ASEAN-focused private infrastructure fund. We thank our partners and investors for their support and recognition of our Group’s sterling fund management expertise and track record as APAC’s largest real asset manager. Our move into the infrastructure and renewables business further strengthens our competitive edge as a fully integrated one-stop solution for our capital partners and customers. We are confident that the infrastructure fund is well-positioned to benefit from robust long-term macroeconomic trends in ASEAN including rising incomes, rapid urbanisation and favourable demographics. Alongside the focus on post-COVID economic recovery and growth, and various government investor-friendly policies to encourage infrastructure investment, the fund will contribute significantly to economic expansion and job creation across the region.”

Chen Bin, Vice President of the Export-Import Bank of China, said, “I’m very glad to see that with the strong support of government departments and the joint efforts of respective LPs, CAF II is now set up. Dedicated to supporting the foreign trade sector, the Export-Import Bank of China takes ASEAN countries as key areas for business development. We have established business ties with ASEAN countries for more than 20 years and financed more than 200 projects in such sectors as power, transportation, water conservancy and industrial production. We hope CAF II can help enhance connectivity, trade and investment cooperation between China and ASEAN countries, so as to contribute to the economic cooperation and trade in the region.”

According to the Asian Development Bank (ADB), developing Asia will require more than US$26 trillion of investments between 2016 to 2030 (US$1.7 trillion per year) in infrastructure to support economic growth, raise living standards and mitigate climate change impacts[3]. Of these funds, USD$14.7 trillion (56% of the total) will be needed for the transition of the energy sector to more renewable and efficient sources. However, there remains a funding gap of US$459 billion per year in the region.

Moses Song, ARA CEO, said: “We are excited to have expanded into a new asset class and we have established a specialist infrastructure and renewables team, leveraging the resources across the Group, to steer the business as we continue to accelerate our growth in size, scale and offerings. With the fund’s focus on essential infrastructure and renewable assets, we are delighted to play a part in helping to build connectivity, economic, trade and investment cooperation in ASEAN, and to bridge any funding gap. In line with our focus on ESG, the fund will also adopt best-in-class sustainability practices and ESG standards to support the region’s energy transition and climate action.”

The resilience of infrastructure assets during times of economic downturn has greatly raised the attractiveness of the asset class among investors. According to a 2021 Preqin survey, 47% of global investors intend to increase their long-term allocation to the asset class[4]. Assets under management (AUM) for the sector is projected to grow at a rate of 16.6% CAGR from US$86 billion to US$1.87 trillion between 2021 to 2026, overtaking real estate to become the largest real asset class.

[1] Mainly sponsored by the Export-Import Bank of China, CAF I invested in such sectors as infrastructure, energy resources and ICT, and provided capital support for outstanding enterprises in China and ASEAN countries.

[2] Speech by H.E. Li Keqiang Premier of the State Council of the People’s Republic of China at the 25th China-ASEAN Summit, 11 November 2022 (https://www.fmprc.gov.cn/mfa_eng/zxxx_662805/202211/t20221112_10973135.html)

[3] Meeting Asia’s Infrastructure Needs, ADB, 2017

[4] Global Infrastructure Report, Preqin, 2022

About ESR

ESR is APAC‘s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With over US$140 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allows capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index.

For more information on ESR, please visit www.esr.com.

About the Export–Import Bank of China

Founded in 1994, the Export-Import Bank of China (hereinafter referred to as the Bank) is a state-funded and state-owned policy bank with the status of an independent legal entity. It is a bank under the direct leadership of the State Council and dedicated to supporting China’s foreign trade, investment and international economic cooperation. Its financial support mainly goes to foreign trade, cross-border investment, the Belt and Road Initiative, international industrial capacity and equipment manufacturing cooperation, the “going global” endeavors of science and technology, cultural industries as well as SMEs, and the building of an open economy.

For more information on the Export-Import Bank of China, please visit www.eximbank.gov.cn/.

SOURCE ESR Group Limited

https://www.prnewswire.com/news-releases/esrs-ara-announces-milestone-partnership-with-the-exportimport-bank-of-china-for-us1-billion-infrastructure-fund-301683604.html

Start-Up Nation Central & Mohammed VI Polytechnic University (UM6P) are Promoting Innovation Knowhow Partnership

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News provided by

Start-Up Nation Central (SNC)

Nov 20, 2022, 10:16 ET

TEL AVIV, Israel , Nov. 20, 2022 /PRNewswire/ — Start-Up Nation Central – a non-profit that promotes the Israeli innovation ecosystem around the world – welcomed a delegation from Morocco’s Mohammed VI Polytechnic University (UM6P) this week to promote greater partnership between the innovation ecosystems in both countries.

The delegation’s visit builds upon the memorandum of understanding (MOU) that the two signed in Casablanca in May during the “Connect to Innovate” conference. During the three-day meeting this week, the stage was set they discussed innovation ecosystem building, knowledge sharing and transfer between the university and industry, human capital challenges and business investment and connecting the start-up communities in each country.

 

“The business opportunities that exist between Israeli innovation and the business and academic ecosystem in Morocco are vast.” Said, H.E Abderrahim Bayoudh, Head of Morocco’s Liaison Office in Tel Aviv. “We see the connection as a natural one, that must be developed for the benefit of developing the ties between the countries. Thanks to Start-Up Nation Central for the commitment to promoting these relationships”.

“Israel and Morocco are natural partners when it comes to building a MENA innovation ecosystem,” said Start-Up Nation Central CEO Avi Hasson. “This partnership and the MOU signed with UM6P, lay the groundwork for the dually beneficial venture for our joint economies. This week, we are welcoming our partners from UM6P to Israel for a series of workshops, and meetings to share journey challenges, a fresh perspective on ecosystem management, and in-person networking, geared at helping us reach our joint objective.”

“The partnership between UM6P and Startup Nation Central was established to help both organizations leverage innovation and education to address common challenges such as Climate Change, Food Security and Digital Inclusion. Bridging the Israeli Startup up Ecosystem with its counterparts in Morocco and Africa may unleash huge potential and benefit both regions. During the week, the Joint team will focus on discussing multiple topics related to Innovation Ecosystem development such as Technology Transfer and how to Instill Entrepreneurship skills and mindset among students and researchers.” Yassine Laghzioui, Director of Entrepreneurship and Venturing at UM6P.

About Start-Up Nation Central

Start-Up Nation Central is a non-profit organization that connects Israeli innovation to the world in order to help international entities solve global challenges. Immersed in the Israeli technology ecosystem, we provide a platform that nurtures business growth and generates partnerships with corporations, governments, investors, and NGOs to strengthen Israel’s economy and society. For more information, visit: https://startupnationcentral.org/.

About Mohammed VI Polytechnic University

Mohammed VI Polytechnic University is a hub of education, research, innovation and entrepreneurship, aspiring to become a solid bridge of knowledge between Morocco, Africa and the world. Located in the “Mohammed VI Green City” in Benguerir, near Marrakech, UM6P applies a “learning by doing” approach and develops sound partnerships with world-wide class universities, to promote leadership and training in focused research areas. By contributing to the training of a new generation of researchers, entrepreneurs and leaders, UM6P is committed to positioning Morocco and Africa at the forefront of technology and human Sciences.

Photo – https://mma.prnewswire.com/media/1951773/Start_Up_Nation_Central_Photo.jpg

SOURCE Start-Up Nation Central (SNC)

https://www.prnewswire.com/news-releases/start-up-nation-central–mohammed-vi-polytechnic-university-um6p-are-promoting-innovation-knowhow-partnership-301683410.html

CGTN: China urges faster digital, green development among APEC members

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News provided by

CGTN

Nov 20, 2022, 00:22 ET

BEIJING, Nov. 20, 2022 /PRNewswire/ — The digital economy and green development have become major trends in global economic and social transformation.

Chinese President Xi Jinping urged on Friday for all APEC members to enhance economic and technical cooperation, speed up coordinated digital and green development.

With a combined population of 2.9 billion, the 21 APEC economies account for over 60 percent of the world’s total gross domestic product (GDP) and about half of its trade. The region’s status is globally significant, and achieving coordinated digital and green development is of vital importance.

Relationship between digital and green economy

Digitalization and green growth are interdependent and mutually reinforcing, Wang Song, an official at the Office of the Cyberspace Administration of China, said at a press conference on November 7.

Wang made the remark when introducing a white paper titled “Jointly Build a Community with a Shared Future in Cyberspace,” which was issued by China’s State Council Information Office. The paper called for “joint efforts to coordinate the transformation towards digitalization and green growth.”

Digital technology plays an increasingly prominent role in promoting the green economy, Wang added. It is estimated that by 2030, industries in China will reduce carbon emissions by 12.1 billion tonnes thanks to advancements in digital technologies, Wang said.

China and other APEC members cooperating on digital economy

China has made the development of the digital economy a national strategy.

The scale of China’s digital economy has ranked second in the world for years, according to the State Council in a report submitted to the National People’s Congress Standing Committee for review on November 28.

Steady progress has also been made in cooperation on the digital economy among China and other APEC economies.

China’s Alibaba Group and the Thailand government signed an agreement in April 2018 in Bangkok which saw the two sides cooperate in e-commerce, digital logistics, tourism and personnel training.

The company in May 2022 launched a data center in Thailand to bolster local businesses’ digital innovation capabilities, according to China’s Ministry of Commerce.

The Philippines and Australia, have also cooperated with Alibaba in retail and logistics, finance and fintechs, digital entertainment and public enterprise services, said the company.

Cooperation in digital payment has also been strengthened. China Unicom said in November that more than six million UnionPay cards have been issued in Southeast Asia since the beginning of this year, an increase of 40 percent year on year.

So far, over 40 million UnionPay cards have been issued in 10 ASEAN countries, among which seven are APEC members.

China’s green development

Green growth provides a practical and flexible approach for achieving sustainable development of the world economy.

The 20th National Congress of the Communist Party of China included a call for the country to accelerate the transition to a model of green development, boost green and low-carbon industries, and promote green and low-carbon ways of production and life.

China aims to peak carbon dioxide emissions before 2030 and to achieve carbon neutrality before 2060.

The country’s national carbon market covers about 4.5 billion tonnes of carbon dioxide emissions, making it the largest globally after one year’s operation, said Zhao Yingmin, head of the Chinese delegation to the 27th session of the Conference of Parties to the United Nations Framework Convention on Climate Change on November 8 in Sharm El-Sheikh, Egypt.

China’s biggest maker of electric and hybrid cars, BYD, signed an agreement in September with Thailand’s industrial estate developer WHA Group to build a new electric vehicle (EV) factory in the country with a planned annual production capacity of 150,000 units.

With an aim to grow its EV market in hope of establishing 30 percent of its auto production as EV based, Thailand has introduced a new round of investment and promotion policies to encourage investment in the whole industrial chain of electric vehicles this year, according to the China Council for the Promotion of International Trade in February.

BYD’s entry into Thailand will help its auto industry move closer to that goal, as well as help the country become a global hub for EV manufacturing, said WHA’s co-founder and chairman Jareeporn Jarukornsakul.

The automaker hoped its EV technology will contribute to the country’s EV industry, said Liu Xueliang, the general manager of BYD Asia-Pacific Auto Sales Division.

China has urged its businesses to integrate green development throughout the overseas investment and cooperation, according to a guideline issued by China’s Ministry of Commerce and Ministry of Ecology and Environment in 2021.

https://news.cgtn.com/news/2022-11-20/China-urges-faster-digital-green-development-among-APEC-members-1f5mSw5e1ri/index.html

SOURCE CGTN

https://www.prnewswire.com/news-releases/cgtn-china-urges-faster-digital-green-development-among-apec-members-301683375.html