Fintech PR
Global E-Cigarette Market Estimated to Grow to $168 Billion by 2030
PALM BEACH, Fla., July 18, 2023 /PRNewswire/ — FinancialNewsMedia.com News Commentary – Around the world, people are becoming more aware of the hazardous effects of regular smoking cigarettes. As a result, alternatives to regular cigarettes have been developed to assist people in quitting smoking. One of the greatest global issues is cancer induced by smoking. E-cigarettes eliminate the risk of cancer and avoid ingesting over 4,000 chemicals, including tobacco and many other toxins and carcinogens found in tobacco smoke, which cause cancer and lung illness. Furthermore, they exhale less harmful material and provide less risk to smokers with asthma. A battery, an atomizer, and an inhaler make up an electronic cigarette, which simulates tobacco smoking without releasing smoke into the air. It is thought to be less hazardous than traditional cigarettes since the device is filled with a nicotine containing or nicotine-free liquid solution that is heated and turned into vapor before inhaling. Due to different research conducted by medical institutions and associations, it is expected that increased knowledge regarding e-cigarettes being safer than traditional cigarettes, particularly among the younger generation, will further fuel market expansion. The providers’ customization capabilities, including temperature control and nicotine dosages, are projected to boost product demand. A report from Beyond Market Insights projected that the Global E-Cigarette Market Was Worth USD 22.17 Billion In 2022 And Is Estimated to Grow to USD 168.96 Billion By 2030, With A CAGR Of Approximately 28.9 % Over the Forecast Period From 2023 To 2030. Active Companies in the markets today include 22nd Century Group, Inc. (NASDAQ: XXII), British American Tobacco p.l.c. (NYSE: BTI), Altria Group, Inc. (NYSE: MO), Philip Morris International Inc. (NYSE: PM), Imperial Brands PLC (OTCQX: IMBBY).
The Beyond Market Insights projected that the Global E-Cigarette Market Was Worth USD 22.17 Billion In 2022 And Is Estimated report said: “New e-cigarette technologies such as pod systems and quonk mods have gained appeal and user adoption in recent years. The e-cigarette and vape market has grown significantly, with devices becoming more efficient in terms of battery life and the number of flavors available. Furthermore, diverse flavors such as menthol, tobacco, fruits and nuts, and chocolate are available on the market, attracting many customers… Traditional cigarette regulations are expected to recognize e-cigarettes as a healthy alternative to tobacco consumption, consequently regulating the technology for safe distribution and usage. Furthermore, the vaping business has formed several associations to combat anti-vaping regulations and to regularize the industry for monitoring, thereby promoting the growth of the e-cigarette and vaping markets.”
22nd Century Group, Inc. (NASDAQ: XXII) BREAKING NEWS: 22nd Century Group, Inc. Issues a Series of Recent Announcements – 22nd Century Group, Inc. (XXII, the Company) this week launched VLN ® King cigarettes, the first-ever reduced nicotine combustible cigarette, in the California market. Starting July 17 th , VLN ® cigarettes contain a staggering 95% less nicotine than conventional cigarettes and will be conveniently available in California at more than 275 sites of the number one convenience store in the US, in addition to numerous other convenience stores across California. VLN ® King cigarettes have made history by receiving U.S. Food & Drug Administration (FDA) approval as a modified risk tobacco product (MRTP).
“We see our VLN ® product offering Californians who smoke a tremendous new option because VLN ® cigarettes are specifically designed to help smokers smoke less, increase their number of smoke-free days, and reduce their nicotine exposure and dependence,” said John Miller, 22nd Century Group President, Tobacco Division. “Our goal with VLN ® is to meet California consumers where they are with a combustible product that helps people smoke less.”
The Company also announced its VLN ® reduced nicotine content cigarettes are selling robustly in more than 80 Town Pump convenience-stores (c-stores) across the state of Montana.
“Launching VLN ® statewide with Town Pump, the #1 c-store in the state, is a big win for adult smokers in Montana seeking an effective solution to break the chains of nicotine addiction,” stated John Miller, president of tobacco products for 22nd Century Group. “We continue to see a pattern where, once available in stores, strong interest from adult smokers looking for new solutions to cut their smoking habit fuels initial trial and then often adoption and repeat purchase of VLN ® . We are excited VLN will be available in dedicated partners such as Town Pump stores given their reputation for providing customers with excellence. Our innovative VLN ® reduced nicotine content cigarettes, the first and only combustible cigarette to secure a Modified Risk Tobacco Product authorization from the U.S. Food and Drug Administration. VLN ® contains 95% less nicotine than U.S. conventional cigarettes. As demonstrated by leading independent scientists, reducing the nicotine level in cigarettes has the potential to substantially reduce the enormous burden of smoking-related death and disease.”
In addition, XXII announced a new distribution agreement with Hub, Inc., a key Midwest based convenience store (C-store) and multi-channel distributor with warehouses located in Missouri and Kansas.
22nd Century’s VLN® products are now available for purchase by eligible Hub customers as a part of 22nd Century Group’s state and regional rollout program. CONTINUED… Read these full releases for 22nd Century Group at: https://ir.xxiicentury.com/news/default.aspx
Other recent developments in the markets include:
British American Tobacco p.l.c. (NYSE:BTI) recently announced new results from one of the largest ever vapour product studies, which analysed BAT’s flagship vapour brand Vuse, have been published in the journal of Internal and Emergency Medicine .
The study compared clinical measurements from exclusive Vuse consumers with smokers. The results of the study show that participating Vuse consumers had favourable differences in biomarkers of exposure (BoE) and biomarkers of potential harm (BoPH) relevant to smoking-related diseases when compared to smokers.
Vuse users have shown significantly lower biomarkers of exposure for priority cigarette smoke toxicants as defined by the World Health Organization (WHO)iii. The data also showed favourable differences between Vuse consumers and smokers across all biomarkers of potential harm measured, with three being statistically significant.
Altria Group, Inc. (NYSE:MO) recently announced that it has completed its acquisition of NJOY Holdings, Inc. (Transaction). We have also updated our guidance for 2023 full-year adjusted diluted earnings per share (EPS) in connection with the Transaction.
“The completion of this Transaction is a transformative step in our goal of Moving Beyond Smoking,” said Billy Gifford, Altria’s Chief Executive Officer (CEO). “We are pleased to have received antitrust clearance and we are now fully focused on responsibly accelerating U.S. adult smoker and adult vaper adoption of NJOY ACE, currently the only pod-based e-vapor product to receive marketing authorization from the FDA.”
“Our updated 2023 full-year EPS guidance range includes planned investments behind the U.S. commercialization of NJOY ACE and reflects our goal to deliver strong shareholder returns while making progress toward our Vision.”
Philip Morris International Inc. (NYSE: PM) recently announced it will host a live audio webcast at www.pmi.com/2023Q2earnings on Thursday, July 20, 2023, at 9:00 a.m. ET, to discuss its 2023 second-quarter and first-half results, which will be issued at approximately 7:00 a.m. ET the same day. The webcast will be hosted by Emmanuel Babeau, Chief Financial Officer, and will include discussion of PMI’s financial results and a Q&A session with the investment community and news media. The webcast will be in a listen-only mode.
The webcast may also be accessed on mobile devices by downloading PMI’s Investor Relations App at www.pmi.com/irapp. An archived recording of the webcast, in addition to the slides and script, will be available at www.pmi.com/2023Q2earnings. The webcast recording will be available until 5:00 p.m. ET on Friday, August 18, 2023.
Imperial Brands PLC (OTCQX: IMBBY) the global tobacco and nicotine business, recently announced the acquisition of a range of nicotine pouches from TJP Labs in order to facilitate its entry into the US modern oral market.
The transaction will enable ITG Brands, Imperial’s US operation, to offer legal adult American consumers a diverse range of 14 product variants in a pouch which performs strongly in consumer testing. Following further consumer testing, ITG Brands will relaunch this range in 2024 under a new brand, which will be supported by the company’s existing US sales force. TJP Labs, a Canada-based manufacturer, will continue to manufacture the oral nicotine pouches under contract for ITG Brands.
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- Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division
- José Muñoz appointed as CEO of Hyundai Motor Company
- Sung Kim appointed as President of Hyundai Motor Company
- Jun Young Choi is promoted to President of Kia Corporation; and Kyoo Bok Lee is promoted to President of Hyundai Glovis
- Appointment of new CEOs for the Group’s affiliates, including Cheol Seung Baek, Hyundai Transys; Joon Dong Oh, Hyundai KEFICO; Hanwoo Lee, Hyundai E&C; Woo Jeong Joo, Hyundai Engineering
SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024 as part of its aims to solidify sustainable growth and better prepare for uncertainties in the global business environment.
This appointment reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation.
Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division, effective Jan. 1st, 2025, to further strengthen the future competitiveness of the Group’s mobility business.
Looking ahead, Chang will oversee the entire value chain, including product planning, supply chain management manufacturing, and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.
José Muñoz is appointed President and CEO of Hyundai Motor Company to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings, including electric, hybrid, ICE and hydrogen technologies, effective Jan. 1st, 2025.
As a result, Muñoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company’s performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.
Sung Kim is appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties, effective Jan. 1st, 2025.
As part of his appointment to enhance the company’s Think Tank capabilities and better navigate various geopolitical challenges, Kim will oversee global external affairs, analyze and research domestic and international policy trends, and lead communications and PR initiatives. He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.
Jun Young Choi is promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO). Kyoo Bok Lee, CEO of Hyundai Glovis, is promoted to President.
To strengthen sustainable management and accelerate business transformation, the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai KEFICO.
To address challenges in the construction industry and accelerate fundamental improvements, the Group has appointed Hanwoo Lee as CEO of Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Woo Jeong Joo as CEO of Hyundai Engineering Co., Ltd.
* Editor’s note: Appointment of all CEOs referenced are subject to approval by the relevant Group affiliate’s Board of Directors
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at:
http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Media Center.
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Fintech PR
DC to VC – NatWest Cushon and Future Planet Capital Lead the Charge in UK Pension Access to British Innovation
LONDON, Nov. 14, 2024 /PRNewswire/ — Future Planet Capital (FPC) is delighted to be working with NatWest Cushon, with a view to the Cushon Master Trust potentially making an investment in the British Co-Investment Fund (BCF). Any future investment will be subject to commercial terms, due diligence, and Trustee approval. If approved, NatWest Cushon’s participation would signify a major step forward, creating new avenues for British pension funds to access high-growth, private technology companies at scale. In partnership with pension solutions provider Mobius Life, the Fund will channel pension investment into the UK’s most innovative and impactful businesses.
The BCF closely aligns with the Chancellor of the Exchequer’s vision under the Mansion House Reforms, aiming to unlock large-scale investment in key British industries. It emphasises the private sector’s pivotal role in accelerating innovation and economic growth, through supporting the UK’s most promising and high-impact technology businesses.
Historically, British pension funds have had limited access to high-growth investment opportunities within the UK, meaning that overseas investors have been the primary beneficiaries of the nation’s flourishing innovation economy. Indeed, according to the BVCA, 86% of venture capital investment comes from overseas investors. To redress the balance, the BCF will be one of the first funds designed specifically for UK regular savings pension funds. It will offer direct and ongoing access to investments in the strategic technologies of the future.
Examples of companies likely to benefit from the Fund’s investments include Tokamak Energy, a world-record holder in nuclear fusion technology. The government-backed UK Innovation and Science Seed Fund (UKI2S), managed by Future Planet Capital, was the first investor in Tokamak Energy, which has since gone on to raise over $250m. This demonstrates the role of public-private partnership in supporting British technology to drive both economic growth and environmental impact. With the support of mainstream British capital, much more can now be done.
Lord Norman Foster, Chair of Future Planet Capital’s Advisory Board shared, “One of our most important tasks is to anticipate the future and find ways to have a positive impact on the wellbeing of people and the planet. We will need intellectual and financial capital to make that happen. This partnership supports the excellent work that is being done to invest in ground-breaking technologies which offer incredible potential.”
Douglas Hansen-Luke, Executive Chairman and Co-founder of Future Planet Capital, commented, “This collaboration enables British pension savers to support the next generation of British innovation, ensuring that UK capital not only backs but also benefits from the country’s technological and sustainable advancements.”
Julius Pursaill, Pensions expert and advisor to the Cushon Master Trust, said:
“There are a number of good reasons to support the UK Growth agenda. Innovations like the British Co-Investment Fund play an important role in delivering on this objective by driving financial growth whilst also offering access to innovative, impact-focused sectors such as climate technology and artificial intelligence, which can help secure the future for pension savers and broader society.”
About Future Planet Capital
Future Planet Capital is an impact-led venture capital firm built to back growth companies from the world’s top universities and research ecosystems. Founded in Britain with global outlook and reach, Future Planet Capital manages over $460m for public and private investors and has deployed a further $200m of co-investment. With 140 portfolio companies across geographies and stages their mission is to invest in high-growth companies solving global challenges. Mapped against the UN Sustainable Development Goals, these include climate change, education, health, security, and sustainable growth.
For more information visit: https://futureplanetcapital.com/
Other potential investments include:
Tropic Biosciences, founded in 2016 with an initial investment from Future Planet Capital’s UKI2S fund, is reshaping agriculture to improve resilience, efficiency, and sustainability in food production.
Roslin Technologies, spun out of the University of Edinburgh, pioneers the development of pluripotent stem cells for cultivated meat. Their technology addresses the global protein gap by enabling scalable, sustainable meat production without raising animals. By providing genetically stable, self-replicating stem cells, Roslin delivers solutions that reduce production costs to less than $15/kg, positioning itself as a leader in a $2BN cell market by 2035.
Beam (formally known as Rovco) is a growth-stage autonomous robotics company specialising in subsea services for the offshore wind sector. With £19 million in 2023 revenue, the company is rapidly scaling, leveraging cutting-edge AI and computer vision to lead the way in subsea autonomy.
Quotes of Support:
Lord Wei of Shoreditch
”Changing the world and making an impact at scale is really tough and at times can be a lonely place. Future Planet Capital has managed to pull together globally an immense network of investors, founders, and experts to tackle the biggest challenges facing the world today. It is truly a fellowship, and a font of innovation, as well as being a premier fund platform. In these fast changing times it is so reassuring to know that there are innovators working on making the world a safer, cooler, and better place, whose chances of success are being supercharged through the FPC community.”
Jim Wilkinson, Chief Financial Officer, Oxford Science Enterprises
‘Future Planet Capital’s investment strategy offers not only something different, but something that has been lacking in this space. Its approach as well as its scope -involving a remarkable series of partnerships with leading universities and university venture funds – make it a very valuable strategic partner for anyone active in this field.’
Paul Abberley, Investment Governance Board Chair
CEO at Charles Stanley, one of the oldest firms on the London Stock Exchange. Previously the CEO / CIO of Aviva Investors.
‘Successful innovations deliver superior investment returns. When those innovations have a positive impact on broader society, the capital investments which makes them possible benefit all stakeholders. Responsible investing of this type is easy to envisage but harder to implement, because identification of suitable opportunities is so challenging. The Future Planet approach bridges that gap.’
Priya Guha OBE, Member of the Future Planet Capital Investment Governance Board
‘With the Chancellor firing the starting gun on this Government’s pension reforms in yesterday’s Mansion House Speech, I am delighted Future Planet Capital are able to announce they are in discussion with NatWest Cushon for an investment into the British Co-Investment Fund. With their strong reputation for investing in high-growth high-impact companies in the technology sector, Future Planet Capital’s BCF is exactly the right vehicle through which pension funds can back the scaling companies of the future; a win-win for British scale-ups and for British pensioners.’
Matthew Hurn OBE, Deputy Chair of Future Planet Capital’s Advisory Board
‘The UK Growth agenda presents an exciting opportunity and it is vital that we have in place the tools needed to fulfil this potential. I strongly welcome this partnership which signals an important step forward – helping to pave the way to greater financial growth while offering savers access to world leading, impactful innovation.’
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Fintech PR
Universal Consulting Opportunities (UCO), a Stellar MLS Subsidiary, Signs Agreement with NAR India As Advisor to Develop a National MLS
ALTAMONTE SPRINGS, Fla., Nov. 14, 2024 /PRNewswire/ — UCO, a subsidiary of Stellar MLS, a leading multiple listing service (MLS) in the U.S. and the fastest-growing in the world, has entered into a landmark agreement with the National Association of REALTORS® (NAR) India as an advisor to successfully launch an MLS across India. This milestone signifies Stellar MLS’s commitment to enhance the real estate industry on a global scale, expanding UCO’s presence worldwide, and furthers NAR India’s journey to modernize and elevate the Indian real estate industry.
Founded in 2008, NAR India is a nonprofit organization that facilitates the professional development of its members and promotes the highest standards and accreditation in the national real estate industry. It is one of only two countries to hold the NAR designation; Canada is the other. UCO will consult with NAR India’s team to guide in areas including the establishment of an MLS, technology, business strategy, organizational setup, and vendor management.
“We are delighted to align with NAR India, a highly respected organization that shares our values of quality customer service, trust and data integrity to benefit the burgeoning real estate market in India,” said Merri Jo Cowen, CEO of UCO and Stellar MLS. “This is a significant nationwide initiative, and we are proud to share our expertise in establishing the MLS concept across India and be a part of NAR India’s mission to utilize the power of collaboration, transparency and an efficient marketplace.”
Cowen also noted the alignment’s potential benefits to Stellar MLS’s Florida customers, such as through referral opportunities: Florida is home to many Non-Resident Indians (NRIs). Current trends highlight the increasing influence of NRIs in shaping India’s real estate landscape, driven by both emotional connections to their homeland and the pursuit of investment opportunities. On the flipside, India is one of the largest foreign investors in Florida real estate, with $5.4 billion in investments in 2020.
“The partnership between UCO and NAR India marks a pivotal moment for the Indian real estate industry,” said Amit Chopra, President, NAR India. “It brings cutting-edge MLS expertise to India, fostering transparency, trust, and professionalism in our market.”
Tarun Bhatia, Vice Chairman and Chair-Global, NAR India, added: “It also creates exciting opportunities for Indian REALTORS® to showcase properties to a global audience, particularly NRIs, fostering stronger international connections.”
Sumanth Reddy, Chairman, NAR India, concluded: “We are proud to embark on this journey with UCO and look forward to the transformative impact it will have on our members and the industry as a whole, opening up new avenues for growth and collaboration.”
Dr. Mathew Kallumadil, UCO Vice President of Global Markets and Stellar MLS Vice President of Technology and Innovation noted the shared synergies between UCO and NAR India. “India is a complex, diverse market with different languages and cultures within the country, and UCO’s experience in accommodating regional differences and helping build scalable MLS systems will be invaluable in developing a sustainable MLS framework,” Dr. Kallumadil said. “Indian society is very highly digitized, and that is critical to a successful MLS and the ecosystem around it.”
The partnership with NAR India expands UCO’s presence to South Asia, in addition to Europe and the Middle East. UCO recently entered into other strategic global consulting opportunities, including with MLS Leader (Romania) and Arab MLS (Middle East) to optimize real estate practices across their respective regions, and with Igluu, a Prague-based digital technology firm, to expand the MLS concept in Europe. Furthermore, UCO has been actively engaged in global forums to support a forward-thinking approach to transforming the industry and its presence is supported through its partnerships with CEPI, the European Association of Real Estate Professions, and FIABCI, the International Real Estate Federation.
For information about UCO and Stellar MLS, visit stellarmls.com/global.
Media Contact: Caryn McBride
Co-Communications
[email protected]
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