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Gentex Announces Investment and Collaboration Agreement With ADASKY

ZEELAND, Mich., May 01, 2023 (GLOBE NEWSWIRE) — Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, and fire protection technologies, today announced that it has closed an agreement with ADASKY as the lead investor in a Series B round of financing and has also established a commercial, engineering, and manufacturing collaboration agreement to help bring ADASKY's proprietary technology to market.

The investment round of financing and the collaboration agreement with Gentex will help secure the transition of ADASKY from an early growth company to a global leader in automotive thermal sensing. ADASKY's proprietary LWIR (Long Wave Infrared) sensors are becoming well–known in the industry for their market–leading performance based on their superior size–to–performance ratio, solid state technology, high reliability, and "shutterless" constant operation design. As advanced sensing systems create the path for passenger and pedestrian safety, thermal sensing will fill the existing gaps in that technology so that ADAS and vision–based systems can operate more reliably in low light and in all–weather situations.

"After several years of investigation, research, and dialogue with the ADASKY team, we became very convinced that now was the time for Gentex to help accelerate the technology's growth and development curve as well as the commercialization of the ADASKY technology. Over the last few years, we have been investing heavily into our sensing capabilities and the ADASKY technology was a great fit to complement our existing suite of sensing products," said Gentex President and CEO, Steve Downing. "However, the last piece of the analysis always comes down to "fit' between organizations, especially when it comes to collaboration agreements, and I am personally very excited about the cultural similarities of our organizations and our ability to work together as a team," concluded Downing.

"Gentex is exactly the right strategic partner for ADASKY to complement our existing shareholders. We have the same excellence–driven engineering and innovation focus that will help propel us to expand markets and applications. With Gentex's global footprint and capability, we will be able to meet the demand we are seeing for our thermal camera," said ADASKY CEO, Yakov Shaharabani. "We are thrilled to explore new opportunities with Gentex in the automotive market and in other industries and verticals. ADASKY and Gentex share the same spirit of addressing extreme challenges with determination and innovation," concluded Shaharabani.

About ADASKY
ADASKY develops and manufactures intelligent, high–resolution thermal sensing systems (LWIR) for vehicle safety and perception applications and smart city roadway solutions. Thermal vision systems can see at night the same as during daylight and are not limited by blinding lights or harsh weather conditions, filling gaps in existing sensor suites. Visit ADASKY's website at http://www.adasky.com.

About Gentex
Founded in 1974, Gentex Corporation (The NASDAQ Global Select Market: GNTX) is a leading supplier of digital vision, connected car, dimmable glass, and fire protection technologies. Visit the Company's web site at www.gentex.com.

Contact Information:
Gentex Investor Contact
Josh O'Berski
(616)772–1590 x5814
josh.oberski@gentex.com		 Gentex Media Contact
Craig Piersma
(616) 772–1590 x4316
craig.piersma@gentex.com
ADASKY Media Contact
Raz Peleg
+972–503314142
raz.peleg@adasky.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/094bc741–6a2a–409b–b46c–2e394ff8a6b4

https://www.globenewswire.com/NewsRoom/AttachmentNg/2dbb1a32–c641–4496–b73f–ac5c6fbc9be2


GLOBENEWSWIRE (Distribution ID 8828725)

Decision Intelligence Leader & AI Innovator Quantexa Raises Valuation to $1.8 Billion With Completion of Series E Funding Round

GIC leads funding round of $129 million with Warburg Pincus, Dawn Capital and other existing investors participating

Quantexa joins elite group of UK tech companies reaching breakout Unicorn status

LONDON and NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced today that it has completed a $129 million Series E funding round. The latest investment round secures the British tech company's unicorn status with a valuation of $1.8 billion and will accelerate the execution of its growth strategy within the *$230bn Decision Intelligence category.

The round was led by GIC, a global institutional investor, and existing investors also participated, including Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO Ventures, and AlbionVC. This investment comes less than 18 months after Quantexa closed its $157 million Series D funding round in July 2021 and just weeks after its acquisition of Aylien, a Dublin–based leader in natural language processing (NLP) and advanced AI.

In what has been a difficult period for many tech companies, Quantexa continues to post impressive growth, having grown their ARR over 100% since closing their Series D round. In the same time period, Quantexa has seen robust growth in all regions, including a breakout performance in North America, with an increase in ARR of over 180%.

The success comes on the heels of Quantexa's continued geographic expansion efforts which has seen the company grow from 500 to 650 employees over the past year and open new offices in New York City, the UAE, Amsterdam, and a new Technology and Analytics Hub in Malaga Tech Park, Spain, in November 2022. This new capital will ensure that Quantexa continues to grow its global presence and invest in its world–class engineering talent.

Quantexa also plans to use the funding to boost technology innovation efforts and strengthen its Decision Intelligence Platform capabilities in low–code data fusion, graph analytics, machine learning (ML), natural language processing (NLP) and artificial intelligence (AI). Additionally, Quantexa will increase focus on accelerating joint go–to–market efforts with its flagship partners which include Google, Moody's, Accenture, KPMG, Deloitte, and EY.

Deployed in more than 70 countries, thousands of users across banking, insurance, telecoms industries, and within public sector, rely on Quantexa's outcome–driven solutions to protect, optimize, and grow their organizations. Quantexa's growing customer–base includes BNY Mellon, HSBC, Standard Chartered, Danske Bank, Vodafone, and The Public Sector Fraud Authority in the UK Cabinet Office.

Vishal Marria, CEO of Quantexa said, "After closing our Series D investment round, Quantexa has been on a transformational journey, accelerating the growth of our global software business and firmly establishing our leadership position in the emerging Decision Intelligence category. In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future.

"It's a real testament to our vision and trajectory to have such a significant contribution from our new investor, GIC and the majority of our Series D investors "" in our latest round. We warmly welcome GIC and thank our existing investors for their continued confidence in our ability to generate growth and accelerate the path to profitability."

*Total addressable market (TAM) estimate is based on Quantexa proprietary research with data from sources including IDC, Chartis, GreySpark (GS), Allied Market Research, and Inkwood Research.

About Quantexa"

Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa's Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 600 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Toronto, Malaga, Brussels, Amsterdam, Luxemburg, Singapore, Melbourne, Sydney, and the UAE. For more information, please visit www.quantexa.com or follow us on LinkedIn.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long–term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital and infrastructure. Its long–term approach, multi–asset capabilities and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

Media Enquiries"
C: Stephanie Crisp, Associate Director and Media Strategist, Fight or Flight""
E: Quantexa@fightflight.co.uk""
"
C: Adam Jaffe, SVP of Corporate Marketing""
T: +1 609 502 6889""
E: adamjaffe@quantexa.com""
– or –""
RapidResponse@quantexa.com


GLOBENEWSWIRE (Distribution ID 1000802066)

Crurated Raises $7.2 MM to Further Innovate Blockchain-Based Wine Community and Expand Market Reach

LONDON, Jan. 17, 2023 (GLOBE NEWSWIRE) — Crurated, the London–based membership wine community designed to connect connoisseurs with world–class producers, today announced that the company has raised $7.2 MM from a group of private investors. The money will be used to further evolve the technology platform, expand producer partnerships beyond France and Italy, and increase overall market share across the globe.

"The past year has been both innovative and successful for our entire team and the producers we've partnered with," said Alfonso de Gaetano, founder of Crurated. "In addition to becoming the first wine community to offer fractional barrel sales backed by NFT technology, we signed an exclusive distribution deal with Charles Lachaux, grew our roster of producers to more than 60, and have attracted a younger demographic of oenophiles onto the platform."

Crurated reports that 70% of its member base is below the age of 45. With 35% of those members under the age of 35, younger than the majority of wine buyers which skews at 45+. The team believes that Crurated's direct partnerships with the world's top wine producers, innovative approach to how wine is purchased on the platform "" traditional lot purchases/auctions and fractional barrel sales "" as well as the use of NFTs to validate a wine's authenticity is helping to increase the interest in wine with a younger demographic.

In addition, revenues were up 214% in the first half of year two vs. the first half of year one. Membership grew by 180% in the first half of year 2 vs. the first half of year 1 and is up 400% year to date.

About Crurated
Launched in 2021 with an emphasis on France and Italy, Crurated is a membership–based wine community designed to connect connoisseurs with world–class producers. A team of specialists provides personalized services and authentic experiences, while Crurated's seamless logistics service guarantees quality and provenance thanks to secure wine cellar storage and innovative blockchain technology. For more on Crurated, visit crurated.com.

PR Contact
Michael Volpatt
Michael@larkinvolpatt.com
415.994.8864

A video accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/1d1a5202–186e–4b6a–8783–aa82bbb8e388

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0988a38c–6f44–4feb–ac1d–c734d7ccc165

https://www.globenewswire.com/NewsRoom/AttachmentNg/e7ba4d88–1de4–4f87–b6ee–d6026b3298c2


GLOBENEWSWIRE (Distribution ID 8730478)

Sabin Vaccine Institute Receives $35 Million from BARDA with Potential of up to $214 Million for Ebola Sudan and Marburg Vaccines

WASHINGTON, Jan. 12, 2023 (GLOBE NEWSWIRE) — The Sabin Vaccine Institute today announced that the Biomedical Advanced Research and Development Authority (BARDA) has awarded Sabin a multi–year contract with funding potential for up to $214 million to advance the development and production of single–dose vaccine candidates for Ebola Sudan and Marburg virus diseases.

There are currently no licensed vaccines against Ebola Sudan and Marburg viruses, which cause hemorrhagic fever and kill approximately half the people infected.

BARDA, part of the U.S. Department of Health and Human Services' Administration for Strategic Preparedness and Response (ASPR), will initially invest approximately $35 million to produce up to 100,000 doses of Sabin's Ebola Sudan virus (ChAd3–SUDV) vaccine. These vaccines may be used as part of ongoing U.S. preparedness efforts and in response to future global outbreaks.

The Sabin vaccine was the first to arrive in Uganda during the recent Ebola Sudan virus outbreak that caused 55 deaths after the World Health Organization included it as one of three vaccines for possible use in an outbreak trial in Uganda. The country declared the Ebola Sudan outbreak had ended on January 11, four months after the first confirmed case.

"Sabin successfully delivered Ebola Sudan vaccine doses to Uganda within 79 days of the start of the outbreak "" quite an impressive accomplishment," says Sabin Chief Executive Officer Amy Finan. "This new contract enables Sabin to produce up to 100,000 doses so the world is prepared in advance for future outbreaks."

In addition to participating in recent outbreak activities, Sabin continues its Sudan development plan and has initiated Phase 2 clinical trial planning in Uganda and Kenya. Based on previous clinical trials, Sabin's Ebola Sudan vaccine is safe and immunogenic, and in nonhuman primate studies has demonstrated rapid protection, durability up to 12 months, and efficacy.

In addition to Sabin's ChAd3–SUDV vaccine, the contract also includes support to manufacture Sabin's vaccine against Marburg virus (ChAd3–MARV), which would generate doses that could also be used in trials and in response to a possible Marburg virus outbreak. As recently as last July, two people in Ghana died after being infected with Marburg virus, reinforcing the urgent need for a vaccine.

The new contract leverages a partnership with BARDA that began in 2019, when the agency awarded Sabin another multi–year contract valued at $128 million to further the development of vaccines against both the Marburg and Ebola Sudan viruses.

"BARDA has been a supportive partner as we take these essential steps in pandemic preparedness," said Finan. "The Ebola Sudan outbreak in Uganda underscored the critical need for readily available solutions. We'll now have ample material to respond quickly to such an outbreak in the future."

This project will be funded in whole with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority, under contract number 75A50123C00010.

About the Sabin Vaccine Institute

The Sabin Vaccine Institute is a leading advocate for expanding vaccine access and uptake globally, advancing vaccine research and development, and amplifying vaccine knowledge and innovation. Unlocking the potential of vaccines through partnership, Sabin has built a robust ecosystem of funders, innovators, implementers, practitioners, policy makers and public stakeholders to advance its vision of a future free from preventable diseases. As a non–profit with three decades of experience, Sabin is committed to finding solutions that last and extending the full benefits of vaccines to all people, regardless of who they are or where they live. At Sabin, we believe in the power of vaccines to change the world. For more information, visit www.sabin.org and follow us on Twitter, @SabinVaccine.

About Ebola Sudan and Marburg

Ebola Sudan and Marburg are members of the filovirus family. Both can cause severe hemorrhagic fever in humans and nonhuman primates. No therapeutic treatment of these hemorrhagic fevers has been licensed to date. Marburg and Ebola viruses are transmitted to humans by infected animals, particularly fruit bats. Once a human is infected, the virus can spread to others through close personal contact or contact with bodily fluids. Isolation of infected people is currently the centerpiece of filovirus control.

Marburg was the first filovirus to be recognized in 1967 when outbreaks of hemorrhagic fever were reported in a few Europe–based laboratories including in the town of Marburg, Germany. Ebola was identified in 1976 when two simultaneous outbreaks occurred in northern Zaire (now the DRC) in a village near the Ebola River and in southern Sudan. The outbreaks involved what eventually proved to be two different species of Ebola virus; both were named after the nations in which they were discovered.

For media inquiries:

press@sabin.org

Media Contact:
Monika Guttman
Media Relations Specialist
Sabin Vaccine Institute
+1 (202) 662–1841
press@sabin.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/539c9127–e5d6–4b32–9e89–780f7461314b


GLOBENEWSWIRE (Distribution ID 8728283)

Playtika Agrees to $25 Million Minority Investment in Mobile Gaming Company Ace Games

HERZLIYA, Israel and ISTANBUL, Turkey, Nov. 21, 2022 (GLOBE NEWSWIRE) — Playtika Holding Corp. (NASDAQ: PLTK) (“Playtika”), a mobile gaming entertainment and technology market leader with a portfolio of top casual titles, today announced execution of an agreement for a $25 million minority investment in Turkish mobile gaming company Ace Games ("Ace"). Ace is the developer of Fiona's Farm, a free–to–play innovative casual mobile game that expertly and uniquely combines the mechanics of Match–3, farming, decoration, and narrative–driven games into one immersive mobile gaming experience for players.

Ace was founded in 2020 by its Chief Executive Officer, Hakan Bas, co–founder of Peak Games, the developer of Toy Blast and Toon Blast (sold for $1.8 billion). It is led by an experienced and talented team of industry veterans from companies like Dream Games and Playrix, and the team has a proven track record in the mobile casual gaming space.

"Our investment in Ace Games is an important milestone in the execution of our new games investment strategy as Playtika continues to seek exposure to high–growth potential game IP in cost–effective ways," said Robert Antokol, Chief Executive Officer of Playtika. "The talented team at Ace has built a best–in–class and innovative product on the "Match–3 and Meta' game model. Playtika can greatly complement Ace with our LiveOps and Digital Studio capabilities, leveraging our enhanced monetization and game operations leadership in mobile gaming."

"Playtika has an unrivaled reputation for delivering superior in–game experiences, scaling mobile games to global dominance in their respective categories," said Hakan Bas, Founder and Chief Executive Officer of Ace. "We are excited to be teaming up with Playtika as an investor and partner that will help us continue to grow this title, and possibly others, into leading mobile game franchises."

About Playtika Holding Corp.
Playtika is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010,"Playtika"was among the first to offer free–to–play social games on social networks and, shortly after, on mobile platforms. Headquartered in"Herzliya,"Israel, and guided by a mission to entertain the world through infinite ways to play,"Playtika"has employees across offices worldwide.

About Ace Games
Ace Games is a next generation global mobile gaming studio with a novel approach to the casual gaming genre. Founded in 2020 by Hakan Bas (Co–Founder of Peak Games, acquired by Zynga) and backed by NfX and Actera, the company is currently working on the global launch of its Match–3 game "" Fiona's Farm "" with a unique triple layer meta gameplay. Ace is headquartered in Istanbul, Turkey and powered by a multi–generational approach with the aim to become a true interactive gaming powerhouse.

Forward Looking Information
In this press release, we make "forward–looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward–looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Further, statements that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “present,” “preserve,” “project,” “pursue,” “will,” or “would,” or the negative of these words or other words or expressions of similar meaning may identify forward–looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward–looking statements include without limitation:

  • our reliance on third–party platforms, such as the iOS App Store, Facebook, and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies;
  • our reliance on a limited number of games to generate the majority of our revenue;
  • our reliance on a small percentage of total users to generate a majority of our revenue;
  • our free–to–play business model, and the value of virtual items sold in our games, is highly dependent on how we manage the game revenues and pricing models;
  • our inability to complete acquisitions and integrate any acquired businesses successfully could limit our growth or disrupt our plans and operations;
  • our inability to enhance the monetization and game operations in our investments;
  • we may be unable to successfully develop new games;
  • our ability to compete in a highly competitive industry with low barriers to entry;
  • we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments;
  • legal or regulatory restrictions or proceedings could adversely impact our business and limit the growth of our operations;
  • risks related to our international operations and ownership, including our significant operations in Israel, Ukraine and Belarus and the fact that our controlling stockholder is a Chinese–owned company;
  • our reliance on key personnel;
  • the closing conditions in the agreement are not met or our inability to complete the investment for any reason;
  • security breaches or other disruptions could compromise our information or our players' information and expose us to liability; and
  • our inability to protect our intellectual property and proprietary information could adversely impact our business.

Additional factors that may cause future events and actual results, financial or otherwise, to differ, potentially materially, from those discussed in or implied by the forward–looking statements include the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward–looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward–looking statements will be achieved or occur, and reported results should not be considered as an indication of future performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward–looking statements.

Except as required by law, we undertake no obligation to update any forward–looking statements for any reason to conform these statements to actual results or to changes in our expectations.

Media Contact:
Darlan Monterisi
darlanm@playtika.com

Investor Contact:
David Niederman
davidni@playtika.com


GLOBENEWSWIRE (Distribution ID 8701060)

Morrow Sodali Strengthens Its Market Leading Position With New Australian Acquisition

NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, the world's leading shareholder engagement and governance advisory firm, announced today the acquisition of Australian financial communications and investor relations agency, Citadel–MAGNUS, its first since TPG Growth secured a majority stake in April of this year.

The Australian based acquisition represents a significant expansion of Morrow Sodali's service offering in the APAC region to meet the rapidly growing global demand from corporations for strategic communications and investor engagement services.

The combination of Morrow Sodali and Citadel–MAGNUS brings together two trusted market leading consultancies to provide best in class strategic counsel and support to our clients. Citadel–MAGNUS will be fully integrated into Morrow Sodali enabling the firm to provide a seamless offering and the most comprehensive suite of investor relations and communications solutions to listed and private entities with the intention of rolling out the expanded services to other markets.

The acquisition marks a significant step forward in Morrow Sodali's strategy to accelerate its growth by investing in services that create value for its clients world–wide.

Alvise Recchi, CEO of Morrow Sodali, commented, "As part of Morrow Sodali's strategic global growth strategy, the addition of Citadel–MAGNUS will expand our service offering to encompass a broader suite of Board, C–Suite and ESG advisory, Investor Relations and Financial Communications services. We can't wait to see the potential of this exciting opportunity realised as we continue to grow in new markets around the world."

Christian Sealey, CEO of Morrow Sodali's International Business added, "More and more, our clients are coming to us seeking advice and assistance across a wide array of areas covering shareholder communication, stakeholder engagement, capital markets intelligence, corporate governance and ESG advisory. Acquiring Citadel–MAGNUS enables us to provide strategic solutions for our clients and uniquely positions us to become their ongoing trusted partner of choice."

Peter Brookes, Joint Managing Director of Citadel–MAGNUS said, "Our team is thrilled to be joining forces with Morrow Sodali. We are seeing a growing need to provide clients with an end–to–end offering across the financial calendar and increasingly complex event driven activity where good communication is paramount. The combination of our firms brings together two leading and trusted advisory companies that are deeply embedded in corporate Australia and who share a strong focus on delivering exceptional client service."

About Morrow Sodali

Morrow Sodali is a global corporate advisory firm that provides clients with comprehensive advice and services relating to corporate governance, ESG, sustainability, proxy solicitation, capital markets intelligence, shareholder and bondholder engagement, M&A, activism and contested situations.

From headquarters in New York and London and offices in global capital markets, Morrow Sodali serves over 1,000 clients in more than 80 countries, including many of the world's largest multinational corporations. Clients include listed and private companies, mutual fund groups, stock exchanges and membership associations.

In 2022, Morrow Sodali is celebrating its 50th anniversary and also secured a majority investment from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. This partnership will significantly advance the firm's mission of providing clients worldwide with unrivalled strategic advice and comprehensive support, enabling them to maximize value and expertly manage stakeholder relations.

For more information about Morrow Sodali, please visit www.morrowsodali.com.

About Citadel–MAGNUS

Citadel–MAGNUS is a leading corporate and financial communication firm with offices in Sydney and Perth, servicing clients across Australia and internationally.

We have established a reputation for delivering outstanding results for our clients through trusted relationships, integrity and professional excellence. Our priority is to support clients' business objectives through effective communication and a superior level of service.

Citadel–MAGNUS brings an unrivalled depth of financial markets, corporate and media experience to help companies address the challenges of today's highly competitive and changing business environment. We have worked with companies in all sectors and of all sizes, and our success has led to established, long–term partnerships with business leaders and companies.

For more information, visit www.citadelmagnus.com.

CONTACT:

Elena Cargnello

Corporate Director, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913


GLOBENEWSWIRE (Distribution ID 1000754955)

EMGA Secures US$ 20M Debt Finance for Costa Rica’s Banco Improsa

LONDON, Oct. 31, 2022 (GLOBE NEWSWIRE) — Emerging Markets Global Advisory LLP (EMGA) for the second time working with Banco Improsa, secures this US$20M facility from the Spanish Agency for International Development Cooperation (AECID) – AECID (advised by COFIDES).

Commenting on the transaction, Felix Alpizar, General Manager of BANCO IMPROSA, said: “Banco Improsa is very honored to be recognized by AECID and COFIDES for both its track record and programs to finance and support Costa Rican micro, small and medium–sized enterprises (MSMEs). With this credit we will continue our contribution to the economic and social development of the country.”

EMGA's Head of Investment Banking Sajeev Chakkalakal said, "A pleasure again to facilitate Banco Improsa's continued vision of supporting SMEs within Costa Rica and complete this funding solution with AECID (advised by COFIDES)."

Jos Luis Curbelo, chairman and CEO of COFIDES, stated that "we are pleased to support AECID in its first impact project with EMGA and IMPROSA in the Central American region. The transaction will be used to finance small and medium enterprises in Costa Rica, which will contribute to the creation and maintenance of quality jobs and reducing inequalities. We look forward to continuing these strategic partnerships, which enhance economic growth in developing countries by strengthening the private sector through sound financial support."

Carlos Jimnez Aguirre, General Manager of FONPRODE and Head AECID's Financial Cooperation Department expressed that "the formalization of this transaction reflects Spanish Cooperation's aims to contribute to expand the financial support for Costa Rican micro, small and medium–sized enterprises (MSMEs), as MSMEs play a key role in creating and maintaining decent jobs and reducing inequalities. Our intention is to expand this kind of support to other Central American countries in providing access to finance to MSMEs, with a special focus on mainstreaming gender and climate change strategies in private sector activities."

Emerging Markets Global Advisory LLP, based in London, helps emerging market based financial institutions and corporates seeking new debt or equity capital.

Banco Improsa was founded in 1995 and is a niche bank with a specialization in providing financial solutions and services to MSMEs, which account for most of its portfolio. It has an extensive track record in providing support and advisory services to MSMEs. Banco Improsa's key success factor lies in its commitment to high standards of personalized, agile, and flexible service, which, together with customized financial solutions, have enabled it to achieve a solid position in these segments. Banco Improsa is part of Grupo Financiero Improsa (GFI).

Fund for the Promotion of Development (FONPRODE), managed by Spanish Agency for International Development Cooperation (AECID) with the support of COFIDES (Spanish Development Finance Institution). AECID is the main management body of Spanish Cooperation and is oriented towards the fight against poverty and the promotion of sustainable development. COFIDES provides support management for FONPRODE with reimbursable financing operations that promote social and economic development of partner countries through investments or transfers of economic resources with a reimbursable nature. FONPRODE may finance non–reimbursable and reimbursable debt and equity. Examples of refundable financing offered by FONPRODE are loans to financial service providers aimed at financial inclusion.

COFIDES, a state–owned company engaging in the management of State and third–party as well as its own funds, pursues several aims; internationalization of Spain's economy, furtherance of economic development and fortification of the solvency of companies affected by COVID–19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).

Jeremy Dobson

info@emergingmarketsglobaladvisory.com


GLOBENEWSWIRE (Distribution ID 1000753987)

EMGA completes EUR 9.4M capital raise for Kashf Foundation with financing from BIO

LONDON, Oct. 03, 2022 (GLOBE NEWSWIRE) — The EURO 9.4 million funding facility for Kashf Foundation was originated, structured, and negotiated by Emerging Markets Global Advisory LLP (EMGA), the emerging market investment bank.

Speaking on the transaction, Mr Shahzad Iqbal, CFO of Kashf Foundation said, "Kashf Foundation is registered as a Non–Banking Micro Finance Company regulated by the Securities and Exchange Commission of Pakistan. Set up in 1996 as the first specialized microfinance institution of Pakistan it began its operations as a Grameen replicator and since then, Kashf has successfully carved out a distinct and unique niche for itself in the microfinance sector in Pakistan by offering a suite of innovative and transformative products and services to low–income households especially for women. It has a current outreach of over 600,00+ female borrowers across its 360+ branches with a GLP of USD 90+ million."

"Just to share that it has always been a pleasure working with EMGA on new transactions to expand our network and outreach. This is the first ever transaction that we are doing with BIO and that too, in Euros. I believe BIO and Kashf will work together and build a strong relationship to increase the financial inclusion in Pakistan and particularly for women. This transaction will help Kashf Foundation to expand its outreach not only in its existing operational areas but also in the new geographical regions across Pakistan."

Emerging Markets Global Advisory LLP (EMGA)'s Managing Director and Head of Investment Banking Sajeev Chakkalakal said, "It has been a pleasure to continue our long–term partnership with Kashf Foundation and deliver this new financing solution despite the volatile economic environment both within Pakistan as well as globally." Also commentating on the transaction, Emerging Markets Global Advisory Limited (EMGA)'s Managing Director Jeremy Dobson said, "It was a real pleasure to work with Kashf Foundation again on this latest transaction and help support their female micro–entrepreneur client base."

Frdric Vereecke, Investment Officer from the Belgian Investment Company for Developing countries (BIO) commented, "We welcome the opportunity to support Kashf Foundation in empowering women and their families by providing quality financial services to low–income households in Pakistan."

Kashf Foundation is registered as a Non–Banking Micro Finance Company regulated by the Securities and Exchange Commission of Pakistan. Set up in 1996 as the first specialized microfinance institution of Pakistan it began its operations as a Grameen replicator and since then, Kashf has successfully carved out a distinct and unique niche for itself in the microfinance sector in Pakistan by offering a suite of innovative and transformative products and services to low–income households especially women.

Belgian Investment Company for Developing countries (BIO) supports a strong private sector in developing and emerging countries, to enable them to gain access to growth and sustainable development within the framework of the Sustainable Development Goals. They achieve this by investing in small and medium–sized enterprises, financial institutions, and infrastructure projects, contributing to socio–economic growth in developing countries.

Emerging Markets Global Advisory Limited (EMGA), with offices in New York and London helps financial institutions and corporates that seek new debt or equity capital. EMGA provides its services, to clients within many of the worlds rapidly developing economies, including Pakistan. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to expand its geographic reach and service offering, as they solidify their place in the market as one of the industries preeminent emerging markets focused investment banks.

Contact details
info@emergingmarketsglobaladvisory.com


Planck Raises $71M to Date to Expand its First-to-Market Cognitive Business Analytics Platform 

TEL AVIV, Israel, Sept. 15, 2022 (GLOBE NEWSWIRE) — Planck, a leading AI–powered data and analytics platform, recently closed a $23 million funding round to continue its mission of empowering commercial insurers with real–time and accurate insights. The financing, which brings the company's total to $71 million, was led by Vintage Investment Partners and all existing financial investors, including Team8, Greenfield, Arbor Ventures, Viola, 3L Capital, HDI and Nationwide, alongside private angel investors.

By partnering with Planck, commercial insurance carriers and their agents can achieve breakthrough levels of improvement in their processes and profitability by having clear, real–time views into their underwriting and business risks that are not available from standard industry data flows and typical providers. Insurers are reaping the benefits from Planck's insights to greatly improve their customer experience, operations, and bottom line.

“This round is a testament to the consistent execution of the Planck team, the trust they've gained from their customers and strong endorsement of its shareholders. Pioneering a leading solution that keeps up with dynamic market demands, coupled with their customer–centric mentality sets Planck apart from others," said Amit Frenkel, General Partner at Vintage Investment Partners. “Planck's deep domain knowledge and technical skillset enable Planck's customers to digitally transform their traditional business models to maintain their competitive edge."

The financial backing will allow Planck to act quickly on opportunities that arise in today's changing market and will specifically bolster development of additional products that complement the platform, along with continued geographic expansion. Planck recently launched solutions like its underwriting risk search engine, which solves for the shortcomings of traditional research methods, and Prospect Intelligence that helps carriers expand into new markets, reduce customer acquisition costs, and drive growth.

"Our record acceleration and the confidence of investors during this economic downturn is a strong indicator of the platform's value and necessity," said CEO and founder Elad Tsur. "We are energized to continue our journey of bringing the most advanced AI–powered insights to the financial services industry across the globe and excited to achieve the vision we are forging alongside our customers, investors and employees."

Among others, six of the top ten commercial insurance carriers in the U.S, as well as top carriers in Europe and Japan are already benefiting from Planck's offerings.

About Planck
Planck, an automated AI–powered data platform for commercial insurance, has solved the industry's long–standing need for real–time accuracy and truth. Planck enables insurers to drive service and underwriting excellence by connecting the most up–to–date insights, with just a business name and address. Global carriers, MGAs, and insurtechs leverage Planck's holistic solution for growth strategies; submission prefilling; prioritization and validation; underwriting new business; renewing existing policies; premium auditing and more. The platform makes managing risk much faster and more predictable, resulting in increased written premium while reducing loss and expense ratios.

Planck was founded by a team of relentless entrepreneurs with extensive backgrounds in insurance and technology, and has almost 100 employees globally. The company has raised $71 million to–date, led by Vintage, 3L Capital, Greenfield Partners, Arbor Ventures, Viola Fintech, Team8, Nationwide, HDI and Eight Roads.

For more information, visit www.planckdata.com.

Media Contact
Audrey Wayne
312.837.1522
Audrey.Wayne@KemperLesnik.com


Heart Aerospace unveils new airplane design, confirms Air Canada and Saab as new shareholders

Gothenburg, Sweden, Sept. 15, 2022 (GLOBE NEWSWIRE) — Swedish electric airplane maker Heart Aerospace today unveiled significant design updates to its first electric aircraft and confirmed Air Canada, one of North America's largest airlines and Saab, the Swedish aerospace and defense– company, as new minority shareholders.

The new airplane design, called the ES–30, is a regional electric airplane with a capacity of 30 passengers and it replaces the company's earlier 19–seat design, the ES–19. It is driven by electric motors powered by batteries, which allows the airplane to operate with zero emissions and low noise.

Air Canada and Saab have each invested USD 5 million in Heart Aerospace. In addition to its investment, Air Canada has also placed a purchase order for 30 ES–30 aircraft.

"We are thrilled to have two such strong partners as Saab and Air Canada join our mission to electrify regional air travel. Growing up in Sweden, Saab is synonymous with aerospace, and our partnership will not only support our programme, but help us to become a part of the proud Swedish aerospace heritage," said Anders Forslund, founder and CEO of Heart Aerospace. "Air Canada is a strategically important partner with one of the world's largest networks operated by regional turboprops, and as a progressive, future leaning company."

"Air Canada is very pleased to partner with Heart Aerospace on the development of this revolutionary aircraft. We have been working hard with much success to reduce our footprint, but we know that meeting our net–zero emissions goals will require new technology such as the ES–30. We have every confidence that the team at Heart Aerospace has the expertise to deliver on the ES–30's promise of a cleaner and greener aviation future," said Michael Rousseau, President and Chief Executive of Air Canada.

The ES–30 has a comfortable three–abreast flat–floor cabin seating, and it features a galley and a lavatory. Cabin stowage and overhead bins will add to the large external baggage and cargo compartment and provide airlines with network flexibility.

The airplane will also include a reserve–hybrid configuration, consisting of two turbo generators powered by sustainable aviation fuel. The reserve–hybrid system is installed to secure reserve energy requirements without cannibalizing battery range, and it can also be used during cruise on longer flights to complement the electrical power provided by the batteries.

This gives the airplane a fully electric range of 200 kilometers, an extended range of 400 kilometers with 30 passengers, and flexibility to fly up to 800 kilometers with 25 passengers, all–inclusive of typical airline reserves.

"The ES–30 is an electric airplane that the industry can use. We have designed a cost–efficient airplane that allows airlines to deliver good service on a wide range of routes," said Anders Forslund, founder and CEO of Heart Aerospace. "With the ES–30 we can start cutting emissions from air travel well before the end of this decade and the response from the market has been fantastic."

"This underlines our commitment to innovative technology and solutions for sustainable aviation. Heart is a pioneer within commercial electric aviation and we look forward to contributing to the future of aviation with our experience of developing solutions at the forefront of technology," says Micael Johansson, Saab's President and CEO.

Previous orders for Heart Aerospace's ES–19 electric airplane, placed by United Airlines and Mesa Air Group for a total of 200 electric aircraft with an option for an additional 100 planes, are reconfirmed for the updated ES–30 design.

"From the beginning Heart and United have been on the same page "" with an acute focus on safety, reliability, and sustainability. Heart's exciting new design "" which includes expanded passenger capacity from 19 to 30 seats, and a state–of–the–art reserve–hybrid engine "" is the type of revolutionary thinking that will bring true innovation to aviation," said Scott Kirby, CEO of United Airlines.

In addition to those commitments, many of the ES–19 letters of intent (LOI) holders have already updated their respective letters to reflect the ES–30. These include the Nordic airlines Braathens Regional Airlines (BRA), Icelandair and SAS as well as New Zealand's Sounds Air. Rockton, a Swedish–based lessor who has made it their mission to focus on sustainable solutions for the industry, has just signed an LOI with for up to 40 airplanes.

In total, Heart Aerospace has LOIs for 96 ES–30s.

The ES–30 is a cost efficient airplane that, on top of significant fuel savings, is cheaper to operate than a larger turboprop due to its electric propulsion. The airplane has also been designed to accommodate battery technology evolution, which will increase its fully electric range and make it even more cost efficient over time.

The ES–30 is expected to enter into service in 2028.

The Swedish electric airplane maker will establish the world's first commercial electric aircraft industry at Sve airport, in Gothenburg, Sweden.

Heart Aerospace will build sustainable state–of–the–art offices, production, and flight test facilities which, together, will form a new campus that will go by the name the Northern Runway.

"We have a plan and it's not just to build a new electric airplane, but a whole new industry," said Anders Forslund, founder and CEO of Heart Aerospace. "Sweden is the origin of flight shame, an anti–flying movement, but with the Northern Runway we will make electric air travel a reality and preserve flying for future generations."

Heart Aerospace's Northern Runway campus will form part of the Castellum owned development area Gateway Sve, where a unique site for sustainable logistics and electric mobility is being developed.

"Gothenburg has distinguished itself as a driving force within electrification, with world class research facilities like the Swedish electric transport laboratory, SEEL, Chalmers University of Technology and a large cluster of companies focused on battery and electric vehicle development," said Sofia Graflund, chief operating officer at Heart Aerospace. "The ambition that Castellum and the City of Gothenburg have for Gateway Sve is truly unique and that is why we have decided to establish our new industry here."

Heart Aerospace currently employs 130 people, but the company is growing rapidly and expects to employ around 500 people by 2025.

" We are extremely proud that Heart Aerospace has chosen Gothenburg for this step in their expansion, which we will give full support. The establishment will generate an additional 500 Swedish jobs by 2025 and even more when series production begins," said Patrik Andersson, CEO of Business Region Gteborg.

The long–term recruitment base in Gothenburg is strong due to its proximity to Chalmers University of Technology, ranked among the top 100 in the world in terms of graduate employability.

A first phase in the establishment of Heart Aerospace's Northern Runway is scheduled to be finalized by mid–2024, with test flights scheduled to start in 2026. Heart Aerospace expects to deliver its first ES–30 aircraft in 2028.

Note to editors:

More information on "Gateway Sve" can be found on www.gatewaysave.com.