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Tau Group Closes €11 Million Extension to Series-B Round to Fuel Growth and Enhance Production Capacity
- The round, led by CDP Venture Capital and Santander Alternative Investments (through Santander InnoEnergy Climate Fund), is joined by existing investors and unfolds concurrently with Tau Group’s expansion of production capacity at its new facility
TURIN, Italy, Jan. 30, 2024 /PRNewswire/ — Tau Group, a leading technology company driving energy transition and decarbonization efforts, is establishing a new global standard in electric motor insulated wire. Tau has successfully closed a €11 million extension to its Series-B funding round. CDP Venture Capital and Santander Alternative Investments (through Santander InnoEnergy Climate Fund) took the lead in this round, with continued support from existing investors. This strategic funding aligns with Tau’s concurrent expansion of production capacity in a new facility, geared towards fulfilling long-term supply agreements recently inked with automotive industry partners.
Tau Group stands at the forefront of the energy transition, specializing in the decarbonization of energy and electrification of transport. The company’s patented technologies strike a balance between sustainable, resource-minimizing manufacturing and the robust performance required for effective electrification. Their focus on carbon-conscious protective coatings for high-performance copper, aluminum, and steel wires has positioned them as a key player in advancing smaller, greener, longer-lasting, and more powerful motors, transformers, and generators.
“This €11 million investment represents a pivotal moment for Tau Group and reinforces our commitment to leading the charge in sustainable technology” said Francesco Taiariol, CEO and Co-founder at Tau Group, “With the support of CDP Venture Capital and Santander InnoEnergy Climate Fund, we are poised to accelerate the adoption of e-mobility, bringing about positive change in the global transportation landscape.”
CDP Venture Capital participates in the operation through its corporate venture capital fund Corporate Partner I, with the IndustryTech and the EnergyTech Sub funds. CDP Venture Capital invests jointly with the regional co-investment fund Piemonte Next, established and managed by CDP Venture Capital and underwritten by the Financial Institution of Piemonte Region Finpiemonte with the objective of maximizing investments in innovation for the territory.
“The revolutionary technology patented by Tau Group promises to significantly improve conductor performance, providing a competitive advantage in the industry and paving the way for more sustainable solutions in the world of electrical conduction” comments Enrico Filì, Head of IndustryTech sub-fund of Corporate Partners I fund, CDP Venture Capital, “The new funding will support Tau production capacity through a new plant and new production lines targeted at fulfilling the increasing demand from the international automotive sector. Tau represents an ideal target for CDP Venture Capital’s cvc fund helping companies creating bridges between large industrial groups and the new disruptive solutions”.
Santander InnoEnergy Climate Fund’s mission is that of accelerating the energy transition across different sectors, including that of mobility. Such focus, together with the expertise and network of the corporations that are behind the fund (Santander and InnoEnergy), make it a perfect ally for Tau Group at this point in time.
As Tau Group continues to advance in sustainable magnet wire manufacturing, the additional funding sets the stage for an exciting chapter of growth and impact on a global scale. The funds raised in this extension will propel Tau Group’s growth trajectory, enhancing its ability to achieve ambitious goals. This investment will play a pivotal role in scaling up production capacity, a crucial step in meeting the demands arising from Tau Group’s recent long-term supply agreements within the automotive sector. The company remains dedicated to advancing sustainability, fostering innovation, and contributing to the broader goals of the energy transition.
Tau Group is a technology company at the core of energy transition, decarbonization of energy and electrification of transport. Its patented technologies reconcile the necessity of sustainable, resource-minimizing manufacturing with the power, reliability and performance that electrification requires to enable smaller, greener, longer-lasting and more powerful motors, transformers and generators. Tau focuses on carbon-conscious protective coatings for high-performance and standard copper and steel wires.
CDP Venture Capital is an asset management company participated by CDP Equity (70%) and Invitalia (30%) with the goal of making venture capital a cornerstone of Italy’s economic development and innovation, creating the conditions for the overall, sustainable growth of the entire innovation ecosystem. CDP Venture Capital manages 13 investment funds, amounting to over 3 billion euros in resources that support innovative enterprises at all stages of their life cycle, making both direct and indirect investments (funds of funds).
Santander Alternative Investments SGIIC, part of Santander Asset Management, is an alternative investment fund manager with EUR 2 billion in committed capital through debt finance, trade finance, venture capital, real estate, infrastructure and FoF strategies. It has 60 employees, half of whom make up its investment teams. As part of Santander Wealth Management & Insurance (WM&I), Santander Asset Management is a global asset manager with firm roots in Europe and Latin America. Stretching back over 50 years and operating in 10 countries, it has EUR 215 billion in assets under management across all types of investment vehicles, from mutual funds and pension plans to institutional mandates and alternative investments. It has over 820 employees all over the globe, some 210 of whom are investment specialists with over 10 years’ experience in asset management. Its investment methods and local teams’ analysis capabilities, coupled with stringent risk control, give it a unique insight into market opportunities and its clients’ needs. Figures as at December 2023.
Contact
Tau Group Media
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www.tau.group
Valentina Martinez Rey
[email protected]
+39 389 177 3351
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View original content:https://www.prnewswire.co.uk/news-releases/tau-group-closes-11-million-extension-to-series-b-round-to-fuel-growth-and-enhance-production-capacity-302045941.html
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.
Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.
Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”
Future Features
Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.
X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.
Upcoming Advanced Opportunities
VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.
As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.
Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li
About VEUR and VCHF
Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
Photo: https://mma.prnewswire.com/media/2586836/Wirex_VEUR_VCHF.jpg
Logo: https://mma.prnewswire.com/media/2031625/5077408/Wirex_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wirex-adds-veur-and-vchf-stablecoins-to-its-platform-for-seamless-spending-302338369.html
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