Fintech PR

Rönesans Enerji Publishes Green Finance Framework

Published

1 day ago

September 18, 2024

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The Framework is a first of its kind for Rönesans Holding, designed to direct financial investments towards projects that promote environmental sustainability. ING acted as a sustainability advisor in the preparation and publication of the Green Finance Framework.

ISTANBUL, Sept. 18, 2024 /PRNewswire/ — To realise the goal of becoming one of Türkiye’s top 3 green energy companies, Rönesans Enerji has rapidly accelerated its investments alongside publishing its Green Finance Framework, a pioneering initiative in the sector that complies with the Capital Markets Board of Türkiye’s criteria for green debt instruments.

Rönesans Enerji, a joint venture between Rönesans Holding and TotalEnergies, has boosted its investments by leveraging the Green Finance Framework to gain easier access to green financing instruments that support renewable energy. The company aims to achieve approximately 7 to 10 percent of the green energy investments targeted in Türkiye’s National Energy Plan.

The creation and publication of Rönesans Enerji’s Green Finance Framework, which is also the first of its kind for Rönesans Holding companies, received support from ING, which acted as a sustainability advisor. The framework is aligned with the Green Bond Principles of the International Capital Market Association (ICMA), the Green Loan Principles of the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA), the Asia Pacific Loan Market Association (APLMA); as well as the Capital Markets Board of Türkiye’s (CMB) guidelines for Green Debt Instruments, Sustainable Debt Instruments, Green Lease Certificates, and Sustainable Lease Certificates. This compliance ensures its applicability in both national and international green financing instruments. The Rönesans Enerji Green Finance Framework is among the first frameworks to incorporate the CMB’s guidelines for Green Debt Instruments, Sustainable Debt Instruments, Green Lease Certificates, and Sustainable Lease Certificates, thereby contributing to the recognition of the CMB Guidelines.

With its numerous compliance criteria, the Green Finance Framework stands as one of the most comprehensive frameworks in Türkiye’s energy production sector. In addition to covering general renewable energy sources such as hydroelectric, wind, and solar power, the framework also includes other renewable sources like bioenergy and geothermal, as well as energy storage systems within its scope. Green hydrogen production and hydrogen storage technologies have been included in the scope of the Green Finance Framework as a strategic preparation for the future. This makes the Green Finance Framework one of the first frameworks in Türkiye to cover hydrogen technologies. All technologies and criteria of the Green Finance Framework were evaluated by ISS Corporate Solutions, which provided a Second Party Opinion (SPO). The Green Finance Framework received a positive assessment, confirming its compliance with relevant standards.

EASIER ACCESS TO GREEN FINANCE

The Board of Directors of Rönesans Holding, İpek Ilıcak Kayaalp stated that Rönesans Enerji has achieved a pioneering milestone in Türkiye’s energy sector with its Green Finance Framework. She highlighted that this framework is one of the first Green Finance Framework among the sector, adding: “We are committed to building a better, more sustainable future. We continue our journey with determination, aiming to set an example in every sector in which we operate.”

She also noted that one of Rönesans Holding’s greatest strengths is its ability to create foreign partnerships and secure foreign financing: “We are actively working with 40 different international banks worldwide to finance our investments under favourable conditions. To date, we have invested over EUR 8 billion in Türkiye, with more than 90% of this investment realised in collaboration with these banks. The first item foreign creditors review is the ESG report, where Rönesans Enerji secured this report last year. With the Green Finance Framework we have published, we will gain easier access to green finance instruments that support renewable energy, furthering our contribution to Türkiye’s sustainable future.”

GOAL TO BECOME ONE OF TÜRKİYE’S TOP 3 GREEN ENERGY COMPANIES

Rönesans Holding Board Member and Energy Group President Emre Hatem stated that with the published Green Finance Framework, Rönesans Enerji is confidently moving towards realising its goal of becoming one of Türkiye’s top three green energy companies. Emre Hatem said: “Since its establishment, Rönesans Enerji has only invested in green energy and will continue to grow with a 100% green energy portfolio in the future. At Rönesans Enerji, we plan to invest in bringing 2000MW of green energy capacity online by 2028. By bringing our current projects under construction and development online, we aim to reach an installed capacity of over 700 MW by the end of 2026 in the first phase. Over the next five years, we aim to achieve approximately 7% to 10% of the green energy investments targeted in Türkiye’s National Energy Plan.”

WE POSITION SUSTAINABILITY AMONG OUR STRATEGIC PRIORITIES.

Bas Bittink, Head of Türkiye and Middle East Debt Capital Markets at ING said, ‘As we seek to help our clients build a sustainable future, the ING team was honored partnering up with Rönesans Enerji. The established Green Finance Framework and Second Party Opinion have set a new regional best practice and will support attracting further dedicated financing towards the Turkish renewable energy sector.’

ING Türkiye Wholesale Banking Executive Vice President Ayşegül Akay said, ‘As ING, we position sustainability among our key strategic priorities and have been active in this field for more than 30 years. ING announced end of last year it aims to triple the financing for renewable energy to EUR 7.5 billion annually by 2025. We believe that green transformation requires a collective effort and action, and we aim to contribute to Türkiye’s green transformation journey by leveraging our international expertise in sustainable finance and our strong global network. In this context, we believe that Rönesans Enerji’s Green Financing Framework, for which ING acted as a sustainability advisor during its preparation and publication, can create an important step towards the transformation of the energy sector in Türkiye and bringing the required financing for this transformation. We are pleased to take part in this valuable cooperation that will contribute to the renewable energy investments of Rönesans Enerji, a partnership of Rönesans Holding and TotalEnergies, and thus to Türkiye’s sustainability roadmap.’

The Green Finance Framework is a comprehensive set of guidelines designed to direct financial investments towards projects that promote environmental sustainability. This framework defines the necessary criteria and standards for investments to be considered as ‘green’. It aligns with recognised frameworks such as the Green Bond Principles and the EU Taxonomy for Sustainable Finance. This framework focuses on specific environmental goals, such as reducing greenhouse gas emissions, increasing resource efficiency, and advancing sustainable development. Furthermore, it ensures transparency and accountability through rigorous reporting and disclosure requirements, guaranteeing that investments meet green criteria and provide measurable environmental benefits.

About Rönesans Group

Rönesans Holding, the conglomerate’s top investment entity headquartered in Ankara, is the 53th largest international contracting company globally. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, energy, healthcare, real estate development and industrial investments. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women’s Empowerment Principles since 2016.

Under the leadership of its president, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.

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Fintech PR

Quadient positioned as the Leader in the 2024 SPARK Matrix™ for Accounts Payable Automation by QKS Group

Published

42 mins ago

September 19, 2024

CISION (PR Newswire)

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The QKS Group SPARK Matrix™ provides competitive analysis & ranking of the leading vendors.
Quadient, with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.

MIDDLETON, Mass., Sept. 19, 2024 /PRNewswire/ — QKS Group announced today that it has named Quadient as a 2024 technology leader in the SPARK Matrix: Accounts Payable Automation.

The QKS Group’s SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK MatrixTM. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.

QKS Group defines Accounts Payable Automation as software tools designed to streamline and automate invoice processing, ensuring accuracy and timely supplier payment. These solutions minimize manual tasks, boost operational efficiency, and help companies take advantage of early payment discounts. These tools manage invoice capture, validation, and matching with purchase orders or contracts. Additionally, they offer features like fraud detection and cash management. Additionally, they provide comprehensive reporting and analytics, enhancing visibility and control over financial data and ensuring compliance with e-invoicing regulations.

According to Nehan Jain, Analyst at QKS Group, “Quadient’s Accounts Payable (AP) automation solution empowers users to streamline their invoice management processes by leveraging OCR and auto-coding functionality to automatically populates header and line-item details thus expediting payment approvals. Quadient’s robust AP automation offerings, including real-time dashboards, reporting tools, automated invoice capture, validation, approval, and payment processes, adapt seamlessly to each user’s unique business needs ensuring ease of implementation and seamless integration with existing financial systems and workflows. Furthermore, Quadient’s digital automation platform, Quadient Hub, facilitates multi-entity product and service management with effortless data sharing. Additionally, Quadient AP provides read-only auditor-specific access credentials, enabling efficient compliance checks and audits. With these features, strong customer value proposition, and compelling ratings across customer impact and technology excellence parameters, Quadient has been recognized as a leader in the 2024 SPARK Matrix^TM: Accounts Payable Automation,” adds Nehan.

“Being recognized once again as a technology leader in the ‘SPARK Matrix for Accounts Payable Automation’ report confirms our growing market leadership and commitment to delivering continuous innovation through our digital automation platform,” said Chris Hartigan, chief solution officer, Digital Automation for Quadient. “In addition to bringing the most efficient and powerful procure-to-pay and invoice-to-cash solutions to our customers across the globe, Quadient is uniquely positioned to help businesses address new regulatory e-invoicing initiatives within the European Union.”

The Accounts Payable Automation (APA) market has transitioned from manual processes to advanced digital solutions driven by EDI, digitization, and automation. Today’s APA tools are essential for managing organizational spending and streamlining complex global operations by automating invoice capture, validation, three-way matching, and payment authorization. As demand for efficiency grows, solutions now offer touchless invoice processing, covering the entire lifecycle from receipt to payment approval, enhancing agility, and enabling early payment discounts while ensuring compliance with evolving e-invoicing regulations. Business-to-Government (B2G) mandates are driving investment in APA software to support invoice processing and supplier payments. Organizations are integrating accounts payable, receivable, and spend management functions to accelerate approvals, increase productivity, and reduce costs. The market is marked by continuous innovation as vendors tackle integration challenges and improve communication through supplier portals and APIs. AI and ML technologies enhance fraud detection, generate insights, and automate reporting, with generative AI and large language models being explored for further automation. As digital transformation accelerates, APA solutions are poised to drive efficiency, cost savings, and regulatory compliance in financial operations.

Additional Resources:

For more information about Quadient visit here.
SPARK Matrix: Accounts Payable Automation, 2024

About Quadient

Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit www.quadient.com.

Media Contacts:

Joe Scolaro
Global Press Relations Manager
+1 203-301-3673
[email protected]

About QKS Group

QKS Group is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At QKS Group, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.

For more available research, please visit https://qksgroup.com/market-research/

Quadrant Contact:
Shraddha Roy
PR & Media Relations
QKS Group
Regus Business Center
35 Village Road, Suite 100,
Middleton Massachusetts 01949
United States
Email: [email protected]
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Connect with us on LinkedIn- https://www.linkedin.com/company/qksgroup/

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Fintech PR

Bybit Collaborates with Ethereum’s First Attackathon as a Unicorn Sponsor, Expands WSOT 2024 Prize Pool

Published

42 mins ago

September 19, 2024

CISION (PR Newswire)

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DUBAI, UAE, Sept. 19, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce its sponsorship of the first-ever Ethereum Protocol “Attackathon.”

This global audit contest and hackathon, organized by Immunefi in collaboration with the Ethereum Foundation, aims to bolster the security of the Ethereum protocol while nurturing its Public Good initiatives. Bybit’s sponsorship of 75 ETH, the largest contribution to date, reinforces its commitment to the growth and security of the Web3 landscape.

“At Bybit, we believe in the power of community and innovation to drive the future of blockchain technology,” said Ben Zhou, co-founder and CEO of Bybit. “Our sponsorship of the Ethereum Attackathon aligns with our mission to support the security and sustainability of the ecosystems vital to the global crypto community. By contributing to this event, we’re investing in a safer and more resilient Ethereum network.”

Bybit Sponsorships Support Innovation

Bybit has a proud tradition of elevating the crypto space, and this year is no exception. In 2023, we sponsored initiatives like the Dubai Multi Commodity Centre’s efforts to help crypto startups flourish. Now, with the World Series of Trading (“WSOT”), it is pushing the boundaries even further. With an unprecedented $10,000,000 prize pool, WSOT 2024 is the ultimate convergence of centralized and decentralized trading, offering participants a chance to “Ride the Best DEX and CEX Waves to Glory”.

Through these initiatives, Bybit is also actively nurturing the next generation of Web3 builders, investing in a future where blockchain technology can thrive. Bybit’s contribution to the WSOT provides prize money and opens doors for builders and developers to receive ongoing support, mentorship, and resources from the crypto industry’s key players.

Ethereum Protocol Attackathon: Enhancing Security Through Collaboration

The Ethereum Protocol Attackathon is a groundbreaking event designed to enhance the security of the Ethereum protocol via a large-scale, crowdsourced security audit. Hosted by Immunefi, this eight-week event will gather the brightest minds in the Ethereum community to assess the protocol’s code.

Bybit’s contribution of 75 ETH to the Attackathon’s reward pool underscores its commitment to the Ethereum ecosystem and its broader goal of fostering a secure, decentralized future. Thanks to contributions from various industry leaders, including the Ethereum Foundation’s initial $500,000 USD seed, the Attackathon is expected to raise over $2 million USD for its reward pool.

#Bybit / #TheCryptoArk / #WSOT2024

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides 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.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Fintech PR

Flipp and MEDIA Central are joining forces to become the global leader in “drive-to-store” marketing

Published

42 mins ago

September 19, 2024

CISION (PR Newswire)

Merger offers a unified platform that helps retailers and brands shape shopper demand.

LOS ANGELES, Sept. 19, 2024 /PRNewswire/ — Canadian technology company and leader in digital merchandising, Flipp Operations Inc. (“Flipp”) and MEDIA Central Group (“MEDIA Central”), European leader in drive-to-store, have joined forces. This industry-defining transaction combines the leadership and expertise of these two institutions to serve thousands of blue-chip retailers and brands across 27 global markets, reaching over 400 million head of household shoppers.

The new ownership structure will be led by majority owner Truelink Capital, and include Insight Ventures, Bregal Unternehmerkapital, and Highland Europe.

Flipp helps major retailers and brands in the US and Canada enhance digital merchandising by creating and distributing local promotions to millions of engaged shoppers. MEDIA Central, with its classic and digital businesses – the digital one combining ShopFully, Offerista, and Yagora – offers data-driven 360° solutions to major retailers and brands across Europe, Australia, and Latin America. Flipp and MEDIA Central will maintain their brands and continue serving customers in their respective markets.

“Flipp is trusted by retailers and brands to provide innovative merchandising solutions in the evolving digital landscape,” says Michael Silverman, CEO of Flipp. “Shoppers expect seamless personalized experiences across their shopper journey, spanning both in-store and online touchpoints. This merger marks an exciting new chapter, enabling us to harness the combined power of Flipp and MEDIA Central to deliver cutting-edge drive-to-store solutions. This will ensure that shoppers are empowered with critical shopping content, while retailers and brands can leverage their promotions to drive shopper engagement.”

Stefano Portu, CEO Digital MEDIA Central, comments: “Following the combination of MEDIA Central and ShopFully last year, this transaction presents a unique opportunity to form a global leader in Drive-to-Store Marketing. Leveraging our unique, AI-powered marketing tech platform and investing jointly into product and technology will allow us to offer even greater value to our customers worldwide.”

Ingo Wienand, CEO Classic MEDIA Central, adds: “Together with Flipp, we are combining our strengths and expertise even more consistently to support retailers as a strong partner in the increasingly complex field of offer communication and to provide maximum value added.”

This merger unites leadership and management of Flipp and MEDIA Central, creating unparalleled value for customers and shoppers. For over a decade, Flipp and MEDIA Central have led the analog-to-digital transition. Their combined platforms will create an advanced digital merchandising network and shopper dataset, helping retailers and brands connect with shoppers. By integrating their networks, the two companies will serve complementary audiences, extend their global reach, accelerate innovation, and enhance value for clients on a global scale.

Luke Myers, Co-Founder and Managing Partner at Truelink Capital, reflected on the transaction and noted, “Through the combination of Flipp and MEDIA Central, we will form a highly attractive market leader, with complementary product offerings and global reach. The financial strength of the combined group will allow us to drive innovation and value for our high-quality customer base of international retailers and brands. We are enthusiastic about this partnership and believe there is a bright future ahead for the combined entity.”

Debt financing for the transaction will be provided by Royal Bank of Canada. Blake, Cassels & Graydon LLP, Baker McKenzie serving as legal advisor and Stifel is serving as financial advisor to Truelink Capital and Flipp. Paul Hastings LLP is serving as legal advisor and Houlihan Lokey is serving as financial advisor to Bregal and MEDIA Central.

The transaction is expected to close by Q4 2024, subject to regulatory approvals and customary closing conditions.

ABOUT FLIPP

Founded in 2007, Flipp is a technology platform that is reinventing the way people plan their weekly shopping trips. The largest retailers and brands in North America use the Flipp Platform to create, curate and distribute digital visual merchandising experiences and savings content to over 100 million high intent shoppers. Households use Flipp as their primary weekly shopping tool to decide what to buy and where to buy. On average, Flipp helps shoppers save $45 on their weekly groceries, home improvement goods, electronics, pharmacy, apparel, pets supplies and more. For more information, visit corp.flipp.com.

ABOUT MEDIA CENTRAL

The MEDIA Central Group is a European market leader in drive-to-store marketing solutions. The Group unites the leading specialist for data-based 360° offer communication, MEDIA Central, Europe’s leading drive-to-store technology platform, ShopFully, together with the experts for digital offer communication, Offerista Group, and the data science experts for the moment of purchase decision, Yagora. It is represented by over 900 employees in 21 locations across Europe, Australia, and Latin America, and currently serves top retailers and brands in 24 countries from all industries.

ABOUT TRUELINK CAPITAL 

Truelink Capital is a middle-market private equity firm based in Los Angeles. Truelink pairs deep industry experience in the industrials and technology-enabled services sectors with a commitment to building partnerships that drive long-term value through an operationally focused strategy. Truelink partners with management, corporate sellers, and founders to accelerate growth through the execution of strategic initiatives and transformative add-on acquisitions.

ABOUT BREGAL UNTERNEHMERKAPITAL

Bregal Unternehmerkapital (“BU”) is a leading investment firm with offices in Zug, Munich, and Milan. With €7.0bn in capital raised to date, BU is the largest mid-cap investor headquartered in the DACH region. The funds advised by BU invest in mid-sized companies based in Germany, Switzerland, Italy, and Austria. With the mission to be the partner of choice for entrepreneurs and family-owned businesses, BU seeks to partner with market leaders and “hidden champions” with strong management teams and breakout potential. Since its founding in 2015, the funds advised by BU have invested over €3.5 billion in more than 100 companies with more than 28,000 employees. Thereby, more than 8,200 jobs have been created. BU supports entrepreneurs and families as a strategic partner to develop, internationalize, and digitize their businesses, while helping them generate sustainable value on a responsible basis with the next generation in mind.

For more information, please visit https://www.bregal.ch/en/.

Media Contacts
Gaby Hui (Flipp)
[email protected]

Selin Castaldo (MEDIA Central Classic)
[email protected]

Laura Sassi (MEDIA Central Digital)
[email protected]

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