Fintech PR
Phoenix Contact plans an extensive investment program for medium to long-term growth
BLOMBERG, Germany, Dec. 18, 2023 /PRNewswire/ — During a press conference at the SPS automation trade fair in Nuremberg, Germany, Ulrich Leidecker, Chief Operating Officer of Phoenix Contact, spoke about the company’s economic development, which, after two years of above-average growth, has been characterized by a significant decline in incoming orders since the second quarter of 2023. It is currently forecast that Phoenix Contact will close the 2023 fiscal year with a fall in revenue of around two percent compared to the previous year and a total revenue of 3.5 billion euros. “If we consider our development from 2019, we have actually achieved an average growth of 9.1 percent year on year up to today. This shows that the current economic development is not a structural problem. Phoenix Contact’s products and solutions are used in particular for electrification and automation, which are areas in which investments will continue to be made in the future”. The decline in demand, driven by excessively high inventories at several points throughout the entire value chain, is affecting all regions of the world. This is particularly noticeable in Asia, whereas some European countries continue to record growth. The number of employees is increasing only very slightly, and remains just below 22,000.
Leidecker emphasized just how special 2023 is for Phoenix Contact, despite the onset of an economic downturn in the second half of the year. “We had the pleasure and privilege of celebrating our 100th anniversary with our employees and customers worldwide. We have achieved a great deal throughout these 100 years, and have remained true to the values and culture of our family business despite our growth and development”. The General Managers and shareholders used numerous events, family days, and staff parties as an opportunity to express their appreciation to our employees for their exceptional dedication and commitment, which has made it possible for the company to become what it is today. “We also highlighted and strengthened our partnerships with our customers by sharing special moments with them at events. After all, it is together with our customers and business partners that we are driving forward solutions for the energy revolution that form the basis for a sustainable world”. The focus was therefore also on global sustainability projects, which were implemented together with partners and the global subsidiaries in 2023.
Investments
In order to prepare Phoenix Contact for growth in the medium to long term, Phoenix Contact has planned an investment program of more than one billion euros over the next five years.
The first measures for the extension to the existing logistics building at the Blomberg location have already been launched. The fully automated building will provide 220,000 cubic meters of additional storage volume. In the future, it will also be possible to supply customers outside of Germany directly from here. At around 100 million euros, this represents the largest single investment in the company’s history. At the location in India, three new buildings with production, logistics, and office spaces, with a footprint of 70,000 square meters, are being built. The investments here amount to around 40 million euros. “With this expansion in capacity, Phoenix Contact is responding to the challenge of making global supply chains more resilient and minimizing dependencies on individual regions of the world”, explained Leidecker.
China is the fastest developing market for e-mobility with its own approaches to mobility. Phoenix Contact is therefore expanding its e-mobility production capacity with a new facility in Lishui, China. The foundation stone was laid at the end of June 2023. At this new production site, Phoenix Contact E-Mobility will develop and manufacture various charging cables for electric vehicles, which will be supplied to Chinese automobile and charging infrastructure manufacturers. The company relies on local-for-local sourcing, where the purchasing, production, and sales markets are located close to each other. The new building has a total footprint of around 26,000 square meters, of which 20,000 square meters is production and storage space and 6,000 square meters is office space.
Building 60 – sustainability and efficiency in industrial applications
With Building 60 at company headquarters, Phoenix Contact is setting new standards in terms of sustainability and efficiency. This investment is an example of the vision of an All Electric Society in which carbon-neutral electricity is the central energy source. The building is designed such that it will not only cover its own energy requirements with self-generated electrical energy, but will also have a positive energy balance during operation. The amount of energy generated will be greater than our own requirements.
Phoenix Contact’s investment in this production and technology center amounts to around 35 million euros. With 18,485 square meters of floor space for 400 workstations, the building illustrates the networking of the energy, mobility, infrastructure, and building sectors. The result is a tangible blueprint for scalable solutions that can be used to network entire districts in the spirit of an All Electric Society.
In the building, thermal energy is integrated into a heating network at the local level – using heat pumps and a 1,500 cubic meter ice storage system. The demand for heating, cooling, and the generation of waste heat from the processes is integrated in such a way that enthalpy exchange is possible. The first stage involves the use of battery storage systems, a photovoltaic system with an output of 1,100 kilowatt-peak, an open-field photovoltaic system with an output of 1,500 kilowatt-peak, and a partial DC power grid. Connected to this is a bidirectional charging infrastructure for e–mobility based on the premise of vehicle-to-grid. The installation of a DC power grid for industrial use is a deliberate strategic decision, as this will play a crucial role in driving the energy revolution forward – renewable energy sources, battery storage systems, and e-mobility are based on direct current and can thus be integrated more easily.
Sustainability: part of the corporate strategy
This October, Phoenix Contact published its first sustainability report. The report, which relates to 2022, is structured in accordance with the GRI standards and is based on the three cornerstones: Environmental, Social, and Governance. Those interested in reading the report can download it from the website.
In order to be able to show as precisely as possible what impact its products have on the environment, Phoenix Contact creates a Product Environmental Footprint (PEF) for each individual product. Up to 18 environmental indicators are taken into account for this, with the company focusing on the carbon value of its products. Other indicators, such as land use or water consumption, are also calculated when the data is available. The entire value chain is examined, from product design and the choice of raw materials, through the manufacturing process and distribution of the item, to the use and end-of-life phase of the products. By examining and calculating the PEF, conclusions can be drawn from the environmental indicators for internal processes. Based on this knowledge, Phoenix Contact is constantly improving its processes in order to reduce its environmental impact and conserve resources.
Photo – https://mma.prnewswire.com/media/2294490/Phoenix_Contact_Investment_Program.jpg
Logo – https://mma.prnewswire.com/media/1085170/Phoenix_Contact_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/phoenix-contact-plans-an-extensive-investment-program-for-medium-to-long-term-growth-302007774.html
HONG KONG, Feb. 13, 2025 /PRNewswire/ — CoinW, a leading global cryptocurrency exchange, is set to make a bold statement at Consensus 2025 as an official 4 Block sponsor, showcasing its dedication to Web3 innovation and blockchain adoption. Attendees can visit booth #3811 to explore CoinW’s latest developments and connect with industry experts.
Beyond the main event, CoinW is hosting an exclusive afterparty at The Henderson – Cloud 39. It will bring together industry pioneers and investors for a night of networking, music, and celebration. With a live DJ and a lineup of performers, the event will mark the official launch of two groundbreaking initiatives: DeriW and WConnect.
Transforming Decentralized Trading
Built on the DeriW Chain and powered by Arbitrum Orbit L3 and Rollup technology, DeriW is set to redefine perpetual trading with:
- Zero Gas Fees: Advanced Layer 3 technology enables ultra-fast, cost-efficient transactions.
- Self-Custodial Wallets: Empowering traders with full control over their funds.
- Dynamic Liquidity Pools: Real-time market adjustments for seamless, high-volume trading.
- Referral Rebates: A decentralized rewards system offering up to 50% in rebates.
With the capability to process 7,000 transactions per second, DeriW delivers a secure, scalable, and efficient trading experience.
A Global Hub for Blockchain Innovation
Next is WConnect, a premier online forum series designed to connect developers, traders, and blockchain communities through in-depth discussions, expert insights, and knowledge sharing.
- AI, RWA & DeFi Trends: Exploring the latest innovations shaping the industry.
- Pro Trading Strategies: Unlocking hidden opportunities and market insights.
- Layer 1 Ecosystems: Showcasing top blockchain projects and their impact.
- Project Development Challenges: Lessons from industry-leading builders.
- Web3 Growth Projections: Analyzing adoption trends and the future of blockchain technology.
WConnect events will be streamed globally on Twitter Spaces, YouTube, and CoinW’s Spot Streaming channel, ensuring accessibility to a worldwide audience.
Join CoinW at Consensus Hong Kong 2025
As a 4 Block sponsor, CoinW is excited to participate in Consensus Hong Kong 2025, a leading event that unites global leaders in crypto, blockchain, and Web3. This elite annual gathering offers a unique opportunity to engage in pivotal conversations and shape the future of decentralized finance and digital assets.
About CoinW
Founded in 2017, CoinW is a globally trusted cryptocurrency exchange serving over 13 million users in 14 countries. With cutting-edge technology, advanced security, and a focus on empowering blockchain innovation, CoinW supports communities worldwide in realizing the transformative power of digital assets.
Twitter Official：https://twitter.com/CoinWOfficial
Research Institute Telegram: https://t.me/CoinW_Research
Telegram EN: https://t.me/coinwoff
Telegram Announcement Official: https://t.me/coinwofficialchannel
YouTube Official: https://www.youtube.com/@CoinWOfficial
Photo – https://mma.prnewswire.com/media/2618620/Consensus_Hong_Kong_2025.jpg
Logo – https://mma.prnewswire.com/media/2618621/CoinW_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/coinw-announces-4-block-sponsorship-at-consensus-hong-kong-2025-302374918.html
- Oversubscribed Series A Funding Round Was Co-Led By Quona Capital and PayPal Ventures with Participation from Citi Ventures
- Finmo Will Use Funds to Accelerate Product Development and AI Capabilities and Expand Global Reach
SINGAPORE, Feb. 12, 2025 /PRNewswire/ — Finmo, the pioneering all-in-one Treasury Operating System (TOS), today announced its successful oversubscribed $18.5 Million Series A funding round, bringing its total funding to US$27 million. This investment underscores the growing demand for an innovative approach to modern treasury management. With the new funding, Finmo plans to accelerate its product development, invest in AI capabilities, and expand its global reach. The company aims to continue delivering cutting-edge solutions that not only improve operational efficiency but also empower organizations to make informed financial decisions by better harnessing the power of its treasury operating system.
The funding round was co-led by prominent investors Quona Capital and PayPal Ventures with participation from Citi Ventures. Known for their investment focus on cutting-edge fintech companies, these investors’ support is a strong validation of Finmo’s value proposition. Finmo offers a unified platform that addresses the complexities of modern treasury operations.
The Finmo TOS is uniquely designed to address the need for effective treasury management in a global context. It streamlines payment processes, enhances cash flow visibility, manages FX risks, ensures compliance, automates manual tasks, and optimizes financial decision-making, including excess liquidity management. With features such as real-time payment capabilities, modular design for scalability, and a strong emphasis on regulatory compliance, Finmo empowers organizations to optimize their cash management, enhance liquidity, and mitigate financial risks—all within a single platform.
Today’s organizations are global players that demand integrated solutions to streamline their treasury functions. Finmo was developed with a first-hand understanding of what treasurers and CFOs need, ensuring that the platform addresses real-world challenges faced by finance professionals today.
“We are thrilled to have the support of esteemed investors such as PayPal Ventures, Quona, and Citi Ventures,” said David Hanna, CEO and Co-Founder of Finmo. “This funding validates our vision of transforming how global businesses manage their treasury function and enables us to scale our platform, enhance our technology further, and expand into new markets. Underpinning all these developments will be our continued commitment to focus on our customers’ evolving needs to enhance operational efficiency, risk mitigation, and strategic financial decision-making.”
Ashish Aggarwal, Partner at PayPal Ventures, said, “Finmo is redefining treasury operations. Their innovative approach addresses critical pain points faced by businesses in today’s dynamic financial landscape. We are proud to support their journey as they continue to deliver transformative solutions that empower organizations globally.”
“Finmo’s innovative Treasury Operating System addresses critical pain points for businesses operating in multiple geographies, empowering them with seamless cash and FX management capabilities,” said Ganesh Rengaswamy, Co-Founder and Managing Partner at Quona, which co-led the Series A. “With their exceptional founding team and strong financial discipline, we believe Finmo is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionize treasury management and cross-border payments for businesses across APAC and beyond.”
About Finmo
Finmo is a global treasury operating system that empowers businesses to manage cross-border payments, optimize liquidity, and navigate financial complexities with ease. Founded in 2021, Finmo is committed to simplifying treasury operations for businesses of all sizes.
For more information about Finmo and its mission to redefine global treasury operations, visit www.finmo.net.
Photo – https://mma.prnewswire.com/media/2616437/Finmo_Founders_Photo.jpg
Logo – https://mma.prnewswire.com/media/2616495/Finmo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/finmo-secures-us18-5-million-to-revolutionize-treasury-management-302373124.html
Fintech PR
Japan’s Leading Crypto Tax Service, cryptact, Now Available in Canada – Trusted Reports from US$22.50
As Japan’s top crypto tax service, trusted by more than 150,000 users since 2017, cryptact is now available in Canada – offering reliable tax reports at a campaign price of US$22.50. Founded by former Goldman Sachs executives, cryptact brings institutional-grade expertise to simplify cryptocurrency tax filing with accuracy and efficiency.
TORONTO, Feb. 12, 2025 /PRNewswire/ — pafin Inc. (Co-CEOs Amin Azmoudeh and Gaku Saito), the provider of cryptact, a leading cryptocurrency calculation service for tax filing, today announced its official launch in Canada. Founded by former Goldman Sachs executives with extensive experience in finance and investment, cryptact leverages institutional-level expertise to deliver accurate and efficient crypto tax solutions.
To mark this milestone, cryptact is offering a 50% discount on paid plans until April 30, 2025.
Key Features of cryptact
- Japan’s leading crypto tax service: since 2017, cryptact has been the most trusted crypto tax service in Japan, serving more than 150,000 users. Developed by a multicultural startup based in Tokyo, it is built by a team of experts in finance, technology, and blockchain.
- Wide support for exchanges and coins: cryptact supports 24,000+ cryptocurrencies across 137 exchanges and blockchains, offering one of the broadest coverages among crypto tax service providers.
- Comprehensive free access: users can start calculating capital gains, losses and income for exchanges, DeFi, and NFTs, and import up to 100,000 transactions per year – all for free.
- The most affordable tax reports: with a 50% discount, “Basic” plan, normally priced at US$45, is now available for just US$22.50 – offering one of the best values among crypto tax service providers.
- All past tax years covered: by purchasing an annual subscription, users can calculate profit and loss for any year, making it an accessible option for those filing a tax return for the first time.
- Accurate and reliable calculations: developed in collaboration with MetaCounts, a Canadian crypto tax expert, cryptact provides precise calculations for a wide range of transaction types.
- Automatic identification of DeFi and NFT transaction types: users can simply input a wallet address, and cryptact will automatically import all transaction history and identify transaction types, significantly reducing manual work.
- Seamless transition from other services: no past transaction history is required. Users can get started by entering only the cryptocurrencies held as of January 1st of the tax year and their cost basis.
Service page: start using our services for free with just your email address.
About the Canada Launch Campaign
- Eligible Users: Residents of Canada
- Offer： 50% off on new purchases or plan upgrades for all plans (excluding the Data Retention Plan)
- How to Apply the Discount： No coupon code required – simply sign up via the service page above, and the discount will be automatically applied at checkout.
- Offer Period： February 12, 2025 – April 30, 2025, 23:59 EDT
Future Outlook
“We are committed to continuously improving our services to meet the evolving needs of our users. As a trusted partner for cryptocurrency users in Canada, we will expand support for additional cryptocurrencies, exchanges, and blockchains while introducing new features to further enhance our user experience.” said Amin Azmoudeh, Co-CEO, pafin Inc.
Leadership Profiles
Amin Azmoudeh, Co-CEO
After graduating with a BS in Computer Science and a BA in Japanese from the University of Maryland in 2003, Amin joined Goldman Sachs Tokyo as the sole technologist of Tokyo’s GSPS team, a principal strategies unit managing the firm’s capital. In 2005, he changed careers to become a financial analyst with GSPS, and in 2007, he transferred to GSIP (Goldman Sachs Investment Partners) as part of the spin-out of the team into GSAM. As a financial/analyst and portfolio manager, Amin managed listed/unlisted equities, bonds, swaps, interest rate products, foreign exchange, derivatives as well as overall risk management. He was promoted to Managing Director in 2013 and retired from Goldman Sachs on December 31, 2017, to found cryptact.
Gaku Saito, Co-CEO
Having completed a Bachelor’s degree in System Innovation Engineering in 2005 and a Master’s degree in Environmental & Ocean Engineering in 2007 from The University of Tokyo, Gaku joined Goldman Sachs – Asia Special Situations Group, where he executed investments exceeding US$500 million in non-performing and sub-performing loan portfolios, private equity, real estate portfolios, and vessel portfolios. Also, he participated in a number of sponsorship auctions on bankrupt real estate developers. From May 2010 to January 2019, he worked at Goldman Sachs Investment Partners Worked as a portfolio manager at a multi-asset hedge fund, managing an US$800 million portfolio. His main investment strategy was equity long/short in listed companies based on a fundamental approach to building financial models. He also invested in equity derivatives, bond/CDS, FX, and mezzanine loan products. Since February 2019, he has been serving as Co-CEO of cryptact, and in 2021, he was appointed as Chairman of the JCBA Tax Review Department.
About the Team
Cryptact is developed and operated by a diverse, multinational team. With expertise in finance, technology and blockchain, the team brings a global perspective to deliver a trusted and efficient crypto tax service.
About pafin Inc.
Services
Cryptact – Crypto tax calculations: Simplified –
Automatically calculate capital gains, access all the information you need for tax filing, and efficiently manage your portfolio — all in one place. Trusted by over 150,000 active users.
X account: https://x.com/CryptactGlobal
defitact – Your Web3 Sidekick –
defitact allows you visualize, analyze and manage your DeFi assets, NFTs and transactions through a highly intuitive and interactive interface. All features are for free.
Company Name: pafin Inc.
Date Founded: January 2018
Rep. Directors: Amin Azmoudeh, Co-CEO / Gaku Saito, Co-CEO
Equity: 1,364M JPY (Including reserve)
Location: Kojimachi HF Building 5F, Kojimachi 3-2-4, Chiyoda City, Tokyo, Japan 102-0083
Contact for public relations and media/press coverage-related inquiries
[email protected]
Photo – https://mma.prnewswire.com/media/2618531/1_cryptact_Canada_1200x630.jpg
Photo – https://mma.prnewswire.com/media/2618532/cryptact_founder.jpg
View original content:https://www.prnewswire.co.uk/news-releases/japans-leading-crypto-tax-service-cryptact-now-available-in-canada–trusted-reports-from-us22-50–302375360.html
-
Fintech PR6 days agoIBN Technologies Declares Support for Taxpayers Facing Increased Oversight in the 2025 US Tax Filing Season
-
Fintech PR6 days agoMiami International Holdings Reports Trading Results for January 2025; MIAX Exchange Group Options Volume Jumps 26.2% to Record Level with MIAX Futures Volume Surging 48.7%
-
Fintech6 days agoFintech Pulse: Your Daily Industry Brief – February 6, 2025: (ACI Worldwide, Lynx, Mecurity Fintech Holding Inc, ZeroRisk, and Bespoke Multi-Asset Strategies)
-
Fintech5 days agoFintech Pulse: Your Daily Industry Brief – February 7, 2025: (Lendscape, Paysafe, PayPal, Trump Media, Fintech Ramp, Forbes Tate Partners)
-
Fintech PR6 days agoNovuna Business Finance survey: Small business growth forecasts fall for the first time since July 2024
-
Fintech PR6 days agoDuelNow Launches $DNOW Token Delivering Membership Rewards for Users
-
Fintech PR6 days agoElliott Statement on Aspen Technology, Inc.
-
Fintech PR6 days agoScope puts the BBB- issuer rating of Elkem under review for a possible upgrade