FarmTogether is partnering with TODAQ to help create a liquid and low-cost secondary market for farmland, especially in international markets; efficiently attract capital; eliminate transaction costs as well as most legal and administrative friction; and improve the immutability and timeliness of yield returns to asset owners. A Memorandum of Understanding was announced during the 2019 Global Ag Investing Conference in New Yorkand the LendIt 2019 Conference in San Francisco.
“We are excited by what TODAQ’s decentralized settlement platform and international reach will bring to the FarmTogether ecosystem. In addition, we are proud to announce that TODAQ will also be acquiring institutional grade farmland in regulatory compliant markets through our investment platform for its TDN program’s reserve backstop.” said Artem Milinchuk, FarmTogether founder and CEO.
For TODAQ, the partnership will help broaden the user and investor base who have access to its TaaS (‘TODA-as-a-Service)’ platform; add more commercial and investment use cases to a rapidly diversifying ecosystem; and secure low risk high-quality farmland for the reserve backstop of the TDN (‘TODA Note’) decentralized loyalty program.
“FarmTogether’s investment platform, with its yield producing agricultural assets, will fill investment needs across the many global markets where TODAQ is building its presence. Farmland on the TODA protocol becomes a secure, private, and scalable peer-to-peer asset class that can fractionate to achievable optimal liquidity. We look forward as well to working together with Artem and the FarmTogether team to add farmland from participating Eurasian markets to the TDN reserve” said Hassan Khan, TODAQ CEO and Co-founder.
The Memorandum envisions broad partnership across geographies and products beyond the initial objectives, and is supported by common values and the deeply shared conviction of the founders that removing barriers for capital flows in a socially responsible and regulatory-compliant way meaningfully enhances positive outcomes for all stakeholders.
Shareholders request EGM to appoint new Board of Directors of B2 Impact ASA
OSLO, Norway, Nov. 28, 2023 /PRNewswire/ — Shareholders representing approximately 24% of the shares and votes of B2 Impact ASA request an Extraordinary Shareholders Meeting to elect new Board of Directors.
A group of shareholders in B2 Impact ASA (the “Company”) including the founding partner Jon Harald Nordbrekken and associated companies; Valset Invest AS and F2Kapital AS together with Gulen Invest AS (the “Shareholders”) have today, in accordance with section 5-7 (2) of the Norwegian Public Limited Liability Companies Act, jointly requested that the board of directors of the Company convenes an Extraordinary General Meeting in the Company to resolve on the election of new members of the Board until the next annual general meeting in 2024. Prioritet Group AB, the largest shareholder in the Company also supports the request for appointment of a new board. Jointly, the request is put forward by shareholders representing approximately 24% of the Company’s shares.
Following the election, the new board is proposed to be composed of four new Directors, including Anders Engdahl as Chairman, Jon Harald Nordbrekken as Vice Chairman, Ellen Hanetho as Director, Nils Wiberg as Director and re-election of Jessica Sparrfeldt.
“I am very pleased that we are able to propose such an experienced board with over hundred years of combined industry experience. The debt collection industry is facing a number of critical challenges posed by rising interest rates, inflation as well as rapid technological change. At the same time, it also presents a number of attractive opportunities as many competitors struggle to adapt to this new environment. For B2 Impact ASA to capitalize on these opportunities we believe it is the right time to appoint new leadership and for the owners to take a more active role in the transformation of the business. To support this change, I will assume an active role on the Board of Directors to help realize the full potential of the business,” says Jon Harald Nordbrekken, founding partner and shareholder of B2 Impact ASA.
The Shareholders are of the view that the Company needs to reconsider its strategy and focus on the following core areas:
- Reduce Cost and Complexity: Structurally reduce group common and local overhead costs through simplified decentralized governance and removing all non-value added activities.
- Enhance Focus: Reduce geographic footprint, build volume and leverage in-market scale. Going forward, the company should focus on collection of unsecured consumer receivables.
- Reduce Indebtedness: Adopt capital light strategy including a partnership with an international investment fund to invest in portfolios outside the Company’s balance sheet, release capital, reduce indebtedness and interest expenses and drive servicing fees.
- Invest in Technology: Accelerate digital adoption by investing into modern collection system technology that could substantially lower cost-to-collect through automated workflows and smarter processes.
- Deliver Profitable Growth: Create profitable organic servicing revenue growth through co-operation with portfolio investors and banks in selected markets as well as acquisitions of businesses that allow the Company to leverage economies of scale.
“I am honoured and excited to be proposed as new Chairman of B2 Impact ASA. I expect to work closely with the new Board of Directors and management to lead the re-orientation of the Company. I believe that if adopting a capital light strategy, the Company is well positioned to take advantage of the emerging opportunities and supportive NPL cycle that can deliver substantial value to shareholders over next few years,” says Anders Engdahl, proposed Chairman of the Board.
In addition, it has been proposed that the following members shall be elected to the Nomination Committee until the annual general meeting in 2024: Frode Foss-Skiftesvik as Chairman, Kjetil Andreas Garstad as Member and Niklas Wiberg as Member.
Background on the proposed board members:
Anders Engdahl, Chairman
Anders Engdahl is a seasoned NPL investment and servicing executive with over 25 years financial services experience. Until Aug 2022, Anders was the CEO of Intrum AB, Europe’s largest debt collector where he spent in total eight years in several roles including CEO, CFO and CIO. Prior to joining Intrum, Anders was Managing Director at Morgan Stanley’s Financial Institutions Group. Anders started his career with Goldman Sachs in London in 1997. He graduated with an M.Sc. In Economics and Managerial Finance from the Stockholm School of Economics.
Jon Harald Nordbrekken, Deputy chairman and board member
Jon Harald Nordbrekken is a founder and the third largest shareholder in B2 Impact ASA. After four years as CEO of Intrum Justitia Norway, Nordbrekken founded Aktiv Kapital in 1991, where he stayed on as CEO until 1999 and as Chair from 1999 to 2004. In 2005, he founded B2Holding AS, now B2 Impact ASA, parent to both Gothia Financial Group and Bank2. Gothia was sold to Herkules in 2008 and Nordbrekken stepped down as Chair of the Board of Bank2 in 2010, before establishing the “new” B2Holding the following year. Nordbrekken was the Chair of the Board of B2 Impact ASA until 2020.
Ellen Hanetho, Board member
Ellen Merete Hanetho has 20 years of experience from investment banking and private equity as a finance and business development executive in corporations such as Frigaard Invest, Credo Partners, Goldman Sachs Investment Banking Division in London and the Brussels Stock Exchange and Citibank in Brussels. She is founder and chairperson of Cercis, a cleantech investment company established in 2020. Ellen holds a BSBA from Boston University, US and an MBA from Solvay University, Belgium in addition to executive training from INSEAD, France and Harvard Business School, US.
Nils Wiberg, Board member
Nils Wiberg is the founder and CEO of Prioritet Group AB. Nils has a very long and solid career within the financial services industry. Nils joined Nordbanken 1986 (currently Nordea) and became CEO of Nordbanken Inkasso focused on debt collection and debt restructuring within the private and corporate sector. Nils was with Nordbanken until 1997. In 1981 Nils founded Prioritet Group which focuses on financial services and asset management. Prioritet Group is the largest shareholder of B2 Impact ASA and wholly owned by Nils Wiberg.
Runergy Ranked as a BloombergNEF Tier 1 PV Module Manufacturer
SHANGHAI, Nov. 28, 2023 /PRNewswire/ — Runergy has achieved a significant milestone by being included in the latest BloombergNEF Tier 1 PV Module Manufacturers list for Q4 of 2023. This recognition is a testament to the exceptional quality and reliability of Runergy’s products, its outstanding performance in global projects, and its strong bankability.
BloombergNEF (BNEF) is renowned as one of the most reputable industry research institutions in the global new energy sector. BNEF has developed a tiering system for PV module products based on bankability, with the goal of creating transparent differentiation between the hundreds of manufacturers of solar modules on the market. To qualify as a Tier 1 PV module manufacturer, companies must demonstrate the production of self-owned brand PV modules for six different projects, financed by six different commercial banks.
Runergy’s high-efficiency N-type double-glass module products are built on the latest generation of ultra-high efficient N-type cell technology developed by the Photovoltaic R&D Institute established by Runergy. These modules offer several advantages, including lower LCOE, better BOS cost, higher power efficiency, and are widely utilized in large-scale ground-mounted projects and tracking systems, C&I projects, and residential roofs. Runergy is committed to meeting the diverse needs of global customers and delivering higher returns for them. Since entering the PV module business in 2022, Runergy’s module products have been exported to numerous countries and regions worldwide, with increasing shipments. The company has established extensive partnerships in key markets such as the United States, South America, Europe, and Southeast Asia, and has implemented PV power projects in various locations. One of Runergy’s flagship products is the N-type Double Glass 144-Piece Module, which has received recognition as the RETC “Overall Highest Achiever”, demonstrating exceptional performance in rigorous tests of quality, performance, and reliability.
Currently, Runergy is strategically expanding its vertical industrial chain, covering polysilicon, cells, modules, and power systems. The company has established independent production sites in multiple locations worldwide. Runergy implements stringent management practices in intelligent manufacturing, quality control, and after-sales support to ensure the delivery of efficient and high-quality products and services to customers, with the commitment of becoming the most reliable global solar solution partner. In response to the global energy transformation and evolving market trends, Runergy will accelerate the development of its entire industry chain, focus on module business growth, and establish a stable and trustworthy module production supplier brand.
Bybit Celebrates 5 Years of Disrupting the Game with 20 Million Users Milestone
DUBAI, UAE, Nov. 28, 2023 /PRNewswire/ — Bybit, a top-three crypto exchange, is pleased to announce a new milestone in its growth journey: surpassing 20 million registered users. This landmark underscores Bybit’s position at the forefront of the crypto industry, celebrating its 5th anniversary this December.
Since its inception, Bybit has offered innovative trading solutions, user-friendly platforms, and 24/7 customer service in multiple languages. The achievement of over 20 million registered users is a testament to the trust and confidence the global trading community places in Bybit.
“Bybit has proved itself as a safe, highly effective crypto hub,” said Ben Zhou, co-founder and CEO. “Reaching 20 million registered users is not just a number for us; it represents the faith and enthusiasm of a community that believes in the potential of crypto and trusts Bybit as their preferred platform.”
Bybit attributes its rapid growth to its constant innovation in the crypto space, including introducing AI-powered trading bots, a sophisticated options market, and a thriving copy trading community. Prudent risk management and enhanced AML compliance have led Bybit to gain licenses in the UAE, Kazakhstan, and Cyprus.
“We are more than just a trading platform; we are the Crypto Ark and a gateway to Web3: the next generation of the internet,” added Ben Zhou. “Our commitment to our users remains stronger than ever, and we look forward to introducing more innovative features and services in the near future.”
As Bybit continues to expand its offerings and reach new heights, the company is poised to play a pivotal role in shaping the future of the crypto industry.
#Bybit #TheCryptoArk #High5Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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