Fintech PR
Westport Announces Signing of Investment Agreement to Establish Previously Announced Joint Venture with Volvo Group
VANCOUVER, BC, March 11, 2024 /PRNewswire/ — Westport Fuel Systems Inc. (TSX: WPRT) (NASDAQ: WPRT) (“Westport” or the “Company”), a leading supplier of advanced alternative fuel delivery systems and components for the global transportation industry, is pleased to announce the signing of an investment agreement to establish the previously announced joint venture with Volvo Group to accelerate the commercialization and global adoption of Westport’s HPDI™ fuel system technology for long-haul and off-road applications (the “JV”). The closing of the JV is subject to certain closing conditions, including regulatory and government approvals. It is anticipated that the JV will become operational following the formal closing which is currently expected to occur in the second quarter of 2024.
“We are excited to execute this agreement and build on our success with the Volvo Group and our HPDI™ technology. We are motivated to keep innovating and investing in strong business relationships with leading organizations that share our goals, of which Volvo Group is certainly one,” said Dan Sceli, CEO of Westport Fuel Systems Inc. “Powered by our shared vision for a cleaner tomorrow, we look forward to further collaboration and providing real solutions to decarbonize the long-haul and off-road transport sectors,” added Mr. Sceli.
As previously announced, Westport will contribute certain HPDI™ assets and opportunities, including related fixed assets, intellectual property, and business, into the JV. Volvo Group will acquire a 45% interest in the JV for the sum of approximately US$28 million, payable upon closing, plus up to an additional US$45 million as an earn out depending on the subsequent performance of the JV.
At Westport, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport, we think ahead. For more information, visit www.wfsinc.com.
HPDI is a cost-effective way to reduce CO2 in long-haul trucking and other high-load and off-road applications. Westport’s HPDI fuel system is a complete system offering OEMs the flexibility to differentiate their biogas, natural gas, hydrogen, and other fuel product lines easily while also maintaining maximum commonality with their conventional diesel-fueled products. Using HPDI, greenhouse gas-emitting fuels like diesel can be replaced with carbon-neutral or zero-carbon fuels like biogas or hydrogen while maintaining the durability, affordability, efficiency, and performance characteristics that have come to be associated with diesel. For additional information on HPDI please visit https://wfsinc.com/technology/hpdi.
This press release contains forward-looking statements, including statements regarding the closing of, and timing for closing of, the JV and the expected sum payable by Volvo in connection with its acquisition of a 45% interest in the JV. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to completion and satisfaction of all conditions to closing set out in the investment agreement, governmental policies, regulation and approval, the achievement of the performance criteria required for the earn out described above, purchase price adjustments contained in the investment agreement, the demand for HPDI systems, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein.
CONTACT: Media Relations: E: [email protected]; Investor Relations: T: +1 604-718-2046; E: [email protected]
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Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
Fintech PR
Notabene Raises $14.5M in Series B Funding Led by DRW VC to Drive the Future of Stablecoins and Payments
The rapid adoption of Notabene’s crypto payment authorization network, which has seen transaction volumes surge 10X in the past year, reflects the growing demand for compliant crypto payment solutions. This Series B round will help Notabene bring secure, transparent, and compliant crypto payments to more financial institutions, paving the way for stablecoins to revolutionize global finance.
NEW YORK, Nov. 12, 2024 /PRNewswire/ — Notabene, a leading provider of cryptocurrency compliance solutions, today announced it has raised $14.5 million in a Series B funding round led by DRW VC, with participation from funds managed by Apollo, NextBlock, ParaFi Capital, and Wintermute, along with existing investors CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator. The funding will accelerate Notabene’s mission to make crypto payments a part of the everyday global economy by fostering open, secure, and compliant transactions.
Regulators now require crypto companies such as exchanges, wallet providers, and payment processors to securely exchange information about sender and receiver, just like they already do in traditional payments. This so-called Travel Rule is now a requirement in most global financial centers.
Having already helped process half a trillion dollars worth of transactions, Notabene is the leading global platform and network for compliant crypto payments. By automating the secure transfer of sensitive data between institutions, Notabene simplifies this complex process that is virtually impossible for companies to implement independently.
Kimberly Trautmann, Partner and Head of DRW VC, the round’s lead investor, emphasized the significance of Notabene’s work in this emerging financial ecosystem:
“Notabene offers a comprehensive and efficient way to track and disclose who an asset is being sent to, which is critical for those who facilitate the exchange, transfer, safekeeping, and administration of virtual assets (Virtual Asset Service Partners or VASPs) and need to be compliant with the Travel Rule. We believe Notabene is positioned to be the provider-of-choice, as it allows users to achieve real-time compliance, is protocol agnostic and does not require exposing sensitive information to other market participants.”
Notabene is expanding its focus to support the growing number of traditional financial institutions moving into digital payments. With over $20T in stablecoin transactions processed last year, global adoption is on the rise and poised to be crypto’s long-awaited killer use case. The key to unlocking stablecoins’ potential as fast, low-cost, borderless payments is a secure and transparent system – one that’s open and not controlled by any single entity. Notabene offers the essential infrastructure for compliance, reconciliation, and safety, enabling open, interoperable payment networks that will drive the next wave of adoption.
Notabene’s CEO, Pelle Brændgaard, underscores the company’s vision for the future of payments:
“We’ve already established ourselves as a pioneer in Travel Rule compliance, and now, as regulatory clarity grows and adoption scales, we are positioned to do the same for payments. By enabling secure, compliant, and open digital asset transactions, we’re helping shape the next generation of global financial infrastructure. Our philosophy of building open networks to maximize reachability between transacting counterparties will be a key driver of adoption with both crypto-native organizations, as well as incumbent players in traditional finance that are showing an increased interest in digital assets and blockchain payment solutions.”
Notabene’s platform has seen a rapid 10x increase in transaction volumes over the past year, totaling nearly $500 billion in transaction volume—solidifying the company’s role as a trusted provider in the compliance space. With over 165 companies using the platform, including some of the largest virtual asset service providers (VASPs) globally such as Copper, Crypto.com, OKX, and Ramp, as well as working relationships with regulatory bodies across hundreds of global jurisdictions, Notabene has built the largest network of transacting counterparties in the market today.
Alexander Ross, General Partner, Head of NYC for investor Illuminate Financial, added:
“As the existing market leader for Travel Rule compliance, we believe Notabene has the potential to become the “SWIFT network for blockchain transactions.” There is a desperate need for a secure network to share all transaction metadata. This will enable compliance with global regulations and is a key pillar to unlocking mass adoption of stablecoins for payments. We have been working with the founders since 2021 and believe they are the best positioned to execute this vision.”
With this raise, Notabene is set to continue its mission to bring crypto and stablecoins into everyday global payments. It will help grow the industry’s only open compliant payments network to support more use cases and new market entrants.
“With $20 trillion in stablecoin transactions processed last year, stablecoins are emerging as the preferred method for fast, low-cost global payments,” said Pelle Brændgaard, Notabene CEO. “As regulatory clarity expands, traditional financial institutions are beginning to recognize stablecoins’ potential. Notabene’s role as a trusted compliance provider is critical to unlocking this potential and establishing stablecoins as a legitimate payment medium worldwide.”
About Notabene
Notabene is the leading crypto payment authorization network, enabling secure, transparent, and compliant transactions for financial institutions around the world. With a platform that facilitates transactions in over 80 jurisdictions, supports over 165 companies, and has processed half a trillion dollars in transaction volume, Notabene is setting the standard for compliant transactions in the digital asset space.
For more information, please visit Notabene.id.
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TALLINN, Estonia, Nov. 12, 2024 /PRNewswire/ — Bluestream OÜ, a quickly expanding digital finance company, is proud to announce the launch of three loan comparison websites aimed at simplifying the loan search process for Finnish consumers. The recently introduced platforms – “Laina heti”, “Luotto”, and “Lainojen yhdistäminen” – are designed to provide transparent, easy-to-understand and reliable financing comparison services designed to meet the diverse financial needs of consumers across Finland.
Laina heti: Speed and Simplicity for Urgent Loans
One of the three platforms, Laina Heti focuses on helping users find fast and convenient loans. This website caters to individuals who require quick access to funds for emergency expenses, unexpected bills or time-sensitive purchases. The design of the website emphasizes simplicity and efficiency, providing users with comparisons of short-term loan offers, including payday loans and other fast financial products.
Luotto: Comprehensive Loan Solutions for All Borrowers
The second platform, Luotto, is the company’s comprehensive comparison website for personal loans. Unlike Laina heti, which focuses on immediate and short-term needs, Luotto is designed to serve consumers seeking more substantial loans for a wider range of financial purposes. Whether it’s for a new car or home renovations, the website provides users with a detailed comparison of various loan options offered by banks, credit institutions, and other lenders across Finland.
Lainojen yhdistäminen: Simplifying Debt Consolidation for Finnish Consumers
The third and final platform, Lainojen yhdistäminen specifically targets consumers looking to consolidate several loans into a single, more manageable monthly payment. For many individuals facing the challenge of managing several loans at once – such as personal loans, credit card debt, or payday loans – loan consolidation can be an effective way to reduce financial stress, improve budgeting and potentially lower the total cost of borrowing.
“With Laina Heti, Luotto and Lainojen Yhdistäminen, we wanted to make it easier for consumers to access quick loans, personal loans and debt consolidation loans without getting bogged down in complex procedures. It’s all about making sure people have the information they need at their fingertips when they need it most,” said a representative for Bluestream OÜ.
About Bluestream OÜ
Bluestream OÜ is a digital finance company based in Tallinn, Estonia. The company specializes in creating financial comparison tools that provide consumers with transparent and comprehensive information to help them make informed financial decisions.
Press Contact:
Bluestream OÜ
Email: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/bluestream-ou-launches-three-comprehensive-loan-comparison-websites-302302960.html
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