Fintech PR
Empower Every Possibility: LG Energy Solution Unveils Corporate Vision, Announces Mid-to-Long-Term Business Strategies
- Company to expand into ‘circular energy business,’ going beyond battery manufacturing
- LG Energy Solution plans to stand at the center of the entire circular energy ecosystem, unlocking limitless business opportunities
- The company aims to lead market as a comprehensive energy solution provider, leveraging its accumulated technological prowess and capabilities
- Four key mid-to-long-term strategies announced, aiming to more than double the revenue by 2028
- Building a balanced business portfolio by expanding Non-EV businesses
- Diversifying product and customer portfolios
- Establishing a foundation for software and service businesses
- Strengthening leadership in next-generation battery technology
SEOUL, South Korea, Oct. 7, 2024 /PRNewswire/ — LG Energy Solution has announced its corporate vision of “Empower Every Possibility” with the aim of transcending the battery manufacturing sector and positioning itself at the heart of the global circular energy ecosystem. This marks the first time LG Energy Solution has introduced a corporate vision since its establishment at the end of 2020.
The new vision underscores that the essence of LG Energy Solution’s business lies not merely in battery production, but in facilitating the energy circulation across the entire cycle from storage to movement of energy. The company intends to become the center of this energy ecosystem, unlocking limitless business opportunities.
The company also aims to lead the market as a comprehensive energy solution provider by continuously evolving its business structure, including expanding beyond hardware to software and services business while building a more sustainable energy ecosystem.
“Our vision encapsulates the ultimate goal of LG Energy Solution to enable sustainable growth,” said David Kim, CEO of LG Energy Solution. “The meaning of this vision is to expand our business with energy that awakens all potential powers, thereby enabling the company and its members to realize infinite growth potential.”
He added, “Based on LG Energy Solution’s DNA of success, which continually embraces opportunities to achieve remarkable results, we will generate more business prospects while strengthening our technological leadership to thrive in the market.”
- Eyes set on doubling the revenue by 2028, the company outlines four mid-to-long-term strategies
LG Energy Solution presented its five-year goals to more than double the revenue compared to 2023 (KRW 33.7 trillion), and achieve mid-teen percent EBITDA margin (excluding the IRA tax credit) by 2028 to secure stable profitability and cash generation capabilities.
Aligned with these goals, the company also outlined four mid-to-long-term strategies: building a balanced business portfolio by expanding non-EV businesses; diversifying the EV product and customer portfolios; securing a business foundation in software and services; and strengthening next-generation battery technology leadership.
First, the company will seek to secure a balanced business portfolio by actively expanding its non-EV businesses. The company plans to reduce dependence on the EV battery business and continue to increase the Energy Storage System (ESS) business in its portfolio. Furthermore, the company will put more efforts into new application businesses with high growth potential, such as Urban Air Mobility (UAM), vessels, and robotics to construct a more resilient business structure that can withstand market fluctuations.
Second, LG Energy Solution will diversify its EV products and customers. Beyond premium batteries centered on high-nickel chemistry, the company will improve its competitiveness in affordable markets through its LFP, LMFP, and high-voltage mid-nickel products. Additionally, the company plans to expand its cylindrical battery customer portfolio to include traditional automakers leveraging its 46-series, and will actively consider developing other new form factors tailored to customer needs.
Third, the company aims to establish a solid revenue structure with the expansion of its software and service businesses. In addition to its industry-leading Battery Management Systems (BMS), the company will offer various services including battery leasing, rental, and recycling to establish a comprehensive Battery-as-a-Service (BaaS) ecosystem. Furthermore, it will evolve its Energy-as-a-Service (EaaS) business model to contribute more to energy stabilization and the circular energy economy.
Finally, LG Energy Solution will focus all efforts on securing leadership in next-generation battery technologies to bring more innovation to the sector. Regarding solid-state batteries, the company plans to lead the market by producing anodeless products that exclude lithium anodes, and ‘graphite-based’ anode products. The company also plans to accelerate the mass production of ‘bipolar’ semi-solid batteries and low-cost high-power batteries applying sulfur and sodium. Furthermore, leveraging its outstanding dry electrode manufacturing process, the company will rapidly enhance its overall competitiveness in cost, energy density, and production yield.
- Each business division shares key strategies to gain upper hands in future markets
Following the announcement of its vision, LG Energy Solution presented detailed mid-to-long-term market strategies for its core Advanced Automotive Battery, Mobility & IT Battery, and Energy Storage Systems (ESS) Battery businesses.
For the Advanced Automotive Battery division, the company unveiled a growth roadmap with the mid-to-long-term goal of securing the top position in North America and reinforcing its foothold in Europe by enhancing its fundamental strengths. By 2026, the division will focus on overcoming the temporary slowdown of the EV market by improving the operational efficiency of its global production facilities. By 2028, it intends to solidify competitive edge in materials and processes with high-voltage mid-nickel pouch products and dry electrode LFP products. By 2030, the division has set an objective of securing a leading position in the EV battery market through overwhelming technological prowess and strategies tailored to specific regions and customers.
The mobility & IT battery division aims to cement its current position as the No. 1 in the global market and further widen its lead by 2028. To this end, the division will prioritize the successful mass production of its 46-series that is optimized for mobility environments, securing competitiveness across various EV models. Additionally, it will actively pursue new customer acquisition in high-power products such as power tools, vacuum cleaners, and battery backup units (BBUs), as well as in AI data servers. Furthermore, the division plans to enhance cost competitiveness by securing new technologies and processes, and achieve logistical advantages through the strategic expansion of its global production sites.
For the ESS business, the division targets a five-fold increase in revenue by 2028 through securing the largest market share in the U.S. ESS battery market. It also aims to become among the top three global system integrators (SI). In the near term, the division will pursue a leading position in the North American market through the full-scale production of ESS cells in the U.S., which is set to start in 2025, advanced SI capabilities through LG Energy Solution Vertech, and new products with higher energy capacity and longer duration. In the long term, LG Energy Solution plans to proactively respond to the rapidly changing market and secure high-margin opportunities by developing next-generation products and strengthening its power trading business.
- Pursuing four core values of growth, challenge, action, and collaboration to achieve its vision
In order to achieve its vision and four mid-to-long-term strategies, LG Energy will actively pursue four core values: Power of Growth; Power of Challenge; Power of Action; and Power of Collaboration.
These core values emphasize the need to continuously strive for growth, challenge seemingly impossible goals, execute on set objectives, and work together to achieve common aims.
To this end, LG Energy Solution plans to foster a corporate culture of execution, where employees are encouraged to challenge themselves with new perspectives and approaches so that they can diligently pursue their goals once a direction is set. The company also highlighted the importance of collaboration among its workforce of 35,000 employees with diverse nationalities, backgrounds, and experiences to create differentiated value.
“We have established global standards in the battery industry with our longstanding legacy in the business and will continue to maintain our industry leader status,” said David Kim, CEO of LG Energy Solution. “I am confident that if we support each other as pace-setters and join hands, our long journey will lead us to even more wonderful landscapes and futures.”
About LG Energy Solution
LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.
View original content:https://www.prnewswire.co.uk/news-releases/empower-every-possibility-lg-energy-solution-unveils-corporate-vision-announces-mid-to-long-term-business-strategies-302268552.html
PLAYA DEL CARMEN, Mexico, Oct. 7, 2024 /PRNewswire/ — Decelera Ventures, founded in 2015, introduced a novel approach to early-stage venture capital by becoming the world’s first “decelerator.” Decelera’s approach allows founders to pause for 10 days, cutting through daily noise to reconnect with their purpose and projects, focusing on what truly matters. It provides tools and support to drive growth and succeed in a highly competitive environment, while building strong relationships with industry leaders and investors.
Each year, in hidden paradises like Menorca for Europe and Akumal for America, Decelera invites 25 purpose-driven companies, selected from over 3,000 applicants, to guide them through a unique growth journey that combines mindfulness, emotional intelligence, and quality time with successful entrepreneurs. A large percentage of projects receive $300k in investment from Decelera Ventures.
The idea behind Decelera stems from two concepts: (1) investing in early-stage startups means investing in teams you love, and (2) stepping away for 10 days in a low-noise environment with a highly curated group of founders helps take the company to the next level.
Constant acceleration can lead to burnout and loss of direction for founders. Entrepreneurs face “Syndrome of Accelerated Thinking,” which severely affects mental health. Decelera’s methodology, like a high-performance entrepreneurship center, encourages founders to pause, reflect, and reconnect with their purpose. Over ten editions, Decelera has received over 10,000 applicants, supported nearly 300 startups, and involved 500 mentors, including international venture capitalists and entrepreneurs. The startups that have participated boast an 80% survival rate and have collectively raised over €1 billion.
After celebrating its tenth edition in Menorca, Spain, Decelera is expanding its methodology to America, establishing a €40m Decelera Fund and a program near Tulum, with future plans to enter the USA and Canada. The next event, Decelera México, will take place in Riviera Maya from October 3-12, 2024, where 20 startups will be mentored by experienced professionals to reduce stress, gain clarity, and thrive in a competitive market.
This expansion aims to strengthen the ties between Latin America, the USA, and Europe, emphasizing Decelera’s mission to help the next purpose-driven unicorns take off.
By prioritizing the human experience of founders, Decelera is redefining what it means to build a purpose-driven startup. As they expand into Latin America and North America, they continue leading a new wave of purpose-driven entrepreneurship across global markets.
View original content:https://www.prnewswire.co.uk/news-releases/the-silent-success-of-decelera-the-venture-format-redefining-startup-growth-globally-302267717.html
Fintech PR
Newmark Expands Germany Presence, Naming Top Industry Leader Marcus Lütgering as Country Head to Drive Growth and Strategy
NEW YORK and MUNICH, Oct. 7, 2024 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers announces that Germany’s distinguished industry leader Marcus Lütgering has joined to lead its efforts in building out the firm’s German business, continuing its global strategy to hire top-tier professionals across nearly all industry verticals, asset classes and key geographies.
“Germany stands as a premier global financial and industrial center, home to 50 Forbes Global 2000 20241 companies, including major banks and other financial institutions, leading manufacturers and technology companies, as well as the European Central Bank. Under Marcus’ leadership, our new German flagship offers tremendous opportunities for networking, partnerships and business expansion as we aim to capitalize on the country’s economic strength and investment opportunities,” said Barry Gosin, Chief Executive Officer. “We expect to be in nearly all major cities in Germany and expand the success of our global platform across the country, emulating our leading occupier and investor advisory capabilities.”
Lütgering, based in Munich, will oversee Newmark’s brokerage operations in Germany, including recruiting, strategic direction, business development and client service. Lütgering joins Newmark after building a renowned reputation, having led JLL’s German office investment operations as head of the Munich office. He was a leading voice on the EMEA Office Board and also a member of the firm’s Strategy Board for Germany. Lütgering previously worked at HIH GmbH and as an advisor for a prominent family in Munich with a strong presence in the U.S. Over the course of his career, Lütgering has worked on some of Germany’s most prominent sales, completing more than 450 transactions totaling €36.8B in value.
“We are thrilled to welcome Marcus to lead our strategic expansion into Germany, which marks a significant milestone in our global collaboration across Investment Sales, Debt & Structured Finance, Occupier Services and other key areas,” said Michael Lehrman, Newmark’s President of the United Kingdom. “This expansion offers a unique opportunity for our UK and France teams to strengthen and expand client relationships in Germany, synergizing our top talent across Europe and North America to enhance our service offerings and solidify our position in the marketplace.”
Newmark is the fastest-growing commercial real estate services company since 20112. Ranking as the third-largest firm in U.S. investment sales by MSCI and the second-largest firm in U.S. debt origination by Commercial Property Executive for 2023, the Company has nearly quadrupled its debt origination market share and more than doubled its investment sales market share since 20153.
Having been active in key EMEA (including UK), cities for some time, Newmark has a growing presence in Germany and throughout Europe at large, establishing a regional headcount of approximately 1,000 professionals in less than three years and generating approximately $300 million in annual revenues from its EMEA operations over the twelve months ended June 30, 2024. 13.4% of Newmark’s revenue over the same period was generated by the Company’s non-U.S. businesses, up from less than 5% in 2021, largely driven by brokerage, sales and leasing advisory acquisitions and strategic hires throughout the UK. Most recently, the Company established its Paris, France flagship office. Since its March opening, the French team has welcomed 35 industry-leading commercial real estate professionals and expects to continue growing. Newmark’s formal entrance into Munich builds off the firm’s existing business activities, which include transactions and consulting advisory in major cities including Berlin, Düsseldorf, Essen, Frankfurt am Main, Herzogenaurach, Köln, Munich and Münster.
“Newmark’s commitment to providing client-first service and hiring and developing the industry’s best talent is second to none,” said Lütgering. “I am incredibly honored to lead Newmark’s expansion in Germany. This opportunity represents a significant milestone, for Newmark and also personally. I look forward to leveraging my experience in the industry to drive growth, innovation and exceptional client service in one of Europe’s most dynamic markets while contributing to Newmark’s global success.”
“Our commitment is to offer a platform that attracts, enables and empowers our professionals to excel, while steadfastly pursuing our mission to unite the most talented and innovative individuals across the globe,” added Gosin.
As Europe’s largest economy, offering stability and resilience to economic fluctuations, the German market plays a critical role in the broader European commercial real estate environment. A major industrial and logistics hub with cities like Frankfurt and Berlin driving demand for office, corporate and tech spaces, Germany attracts significant international investment and was the second-largest market for commercial real estate transactions in Europe (after the UK) for the six months ended June 30, 2024 and calendar years 2023 and 2022, and was the largest in 20214. Germany’s leadership in sustainability and green building practices further enhances its appeal, making the market a key focus for long-term real estate growth and development.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
1 Forbes The Global 2000 2024 published June 6, 2024 link.
2 Newmark’s 2011 revenues are based on unaudited full year 2011 revenues for Newmark & Company Real Estate, Inc. The peers included in the 2011- 2023 average are U.S. tickers CBRE, CIGI, JLL, MMI, and WD, (in USD) and U.K. ticker symbol SVS (in GBP). In addition, U.S. ticker CWK did not report revenues for periods before 2015 and is therefore excluded.
3 Investment sales market share is calculated by dividing Newmark’s U.S. volumes by MSCI U.S. investment sales volumes for the relevant dates. Debt origination market share includes Newmark’s non-originated mortgage brokerage volume plus GSE/FHA origination volumes. Newmark’s debt market share are those volumes divided by the Mortgage Banker’s Association commercial/multifamily mortgage origination volumes. The time frame for this U.S. market share data compares 2015 with the trailing twelve months ended July 30, 2024. Market share data is applicable to the U.S. only
4 According to MSCI Real Assets (formerly known Real Capital Analytics, or “RCA”)
Photo – https://mma.prnewswire.com/media/2523171/Newmark_Group_Marcus_Lutgering.jpg
Logo – https://mma.prnewswire.com/media/1057994/Newmark_Group_Logo_v1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/newmark-expands-germany-presence-naming-top-industry-leader-marcus-lutgering-as-country-head-to-drive-growth-and-strategy-302267878.html
The world’s second largest third-party ship management company announces the appointment of Captain Rajalingam Subramaniam
HONG KONG, Oct. 7, 2024 /PRNewswire/ — Fleet Management Limited (“Fleet” or the “Company”), a part of The Caravel Group Limited (“Caravel” or the “Group”), announces the appointment of Captain Rajalingam (‘Raja’) Subramaniam as the new Chief Executive Officer. He joins the Company on Monday, October 21, 2024, as “CEO Elect,” and officially assumes the role on Wednesday, January 1, 2025. Captain Subramaniam will report to Dr. Harry S. Banga, Chairman and CEO of The Caravel Group.
Captain Subramaniam will succeed Dr. Kishore Rajvanshy, who has served as Managing Director of Fleet Management Limited since the Company’s inception thirty years ago. During his tenure, Dr. Rajvanshy has led Fleet Management Limited’s growth into the world’s second largest third-party ship management company. Dr Rajvanshy will transition to “Managing Director Emeritus” and remain as a “Non-Executive Director” in a senior advisory role. Mr. Angad Banga JP will continue to serve as the Group Chief Operating Officer of The Caravel Group, the parent company of Fleet, and actively support Fleet’s leadership team during this transition.
A seasoned leader and a highly qualified maritime professional, Captain Subramaniam combines first-hand seafaring experience as a Master Mariner with strong business acumen. Formerly the President & Group CEO of the MISC Group, he strengthened the Group’s standing as a dominant force in the global shipping and offshore industry, steering the company amid a shifting landscape of complex challenges, from economic uncertainty to evolving environmental regulation. Captain Subramaniam has demonstrated his adept ability to deliver growth, innovation, and champion excellence, all of which he will bring to Fleet Management Limited.
Dr. Harry S. Banga expressed his enthusiasm for the new appointment: “Captain Subramaniam’s exemplary track record and visionary leadership make him the ideal choice to lead Fleet Management Limited into its next chapter of growth and innovation. We are confident that his strategic insight will elevate and reinforce our commitment to excellence in the maritime industry.”
Additionally, Dr. Banga extended heartfelt gratitude to Dr. Rajvanshy: “Dr. Rajvanshy’s leadership has been the bedrock of our success. His unwavering commitment to excellence has shaped the company into what it is today. We are profoundly thankful for his years of service, friendship and the lasting impact he has made on the maritime sector.”
Reflecting on his 30 years of leadership, Dr. Kishore Rajvanshy said: “It has been an incredible journey to see Fleet Management Limited grow and thrive and I am deeply grateful for the support of our talented people and partners. We welcome Captain Subramaniam and look forward to working with him to steer the company towards new horizons, building on our legacy of safety and quality.”
Captain Subramaniam said: “I am truly honoured to be entrusted with this responsibility and to work alongside a team renowned for its dedication and excellence. My thanks also to the founding family for their support of my professional aspirations for the progress of the maritime industry at large. Together, we will continue to innovate and uphold the highest standards in the maritime industry, guided by the solid foundation laid by Dr. Rajvanshy and the Banga family.”
Fleet Management Limited will pursue a seamless transition as it continues to lead in maritime excellence and innovation. The company extends its heartfelt gratitude to Dr. Rajvanshy for his visionary leadership and commitment over the past three decades.
About Fleet Management Limited
Fleet Management Limited, part of The Caravel Group, is the world’s second largest ship management company, managing more than 650 vessels. This rank bears testament to the resilience and commitment of 27,000+ seafarers and 1,200+ onshore maritime professionals, serving more than 130 world-class shipowners. Fleet manages a range of vessels, including bulk carriers, containers, car carriers, oil tankers, gas carriers and chemical tankers from 600 to 320,000 DWT in size – with many being young and energy-efficient with an age profile below the industry average. The company also has a dynamic newbuilding supervision department.
About The Caravel Group Limited
The Caravel Group is a diversified conglomerate headquartered in Hong Kong SAR with three verticals: Maritime, Commodities and Investment Management. Within the Maritime vertical, the Group is focused on third-party ship management, and as well ship ownership – managing operating and/or owning more than 700 sea-going vessels across the dry bulk, chemical and gas tanker and container segments. Within Commodities, the Group is engaged in the trading and logistics of industrial dry bulk raw materials, namely iron ore and thermal coal. Within Investment Management, the Group is primarily focused on direct investments in global liquid markets including public equity and credit, across all industries. In addition, the Group invests in alternative investments – mainly private equity and hedge funds – to diversify risks and sustain long-term returns.
Photo – https://mma.prnewswire.com/media/2524331/RS___7_5.jpg
Photo – https://mma.prnewswire.com/media/2524332/Fleet_Management_Limited_Leadership___7_5.jpg
Logo – https://mma.prnewswire.com/media/2344427/Fleet_Management__JPEG_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/fleet-management-limited-appoints-chief-executive-officer-302268619.html
-
Fintech6 days agoTechnology Pushes the boundaries of online payments in 2024: MDC examines biometric payments
-
Fintech PR6 days agoNereus Finance Unveils Innovative Prediction Markets with 50x Leverage, Starting with U.S. Presidential Election Instruments
-
Fintech PR5 days agoCambridge Scientists Secure $5M from Leading Global Venture Capital Funds and Corporations to Transform Scope 3 Decarbonization
-
Fintech PR3 days agoUniversal Consulting Opportunities (UCO) Enters European Market as Exclusive Strategic Advisor to MLS Leader in Romania
-
Fintech PR3 days agoFitch Ratings Assigns Moldova a ‘B+’ Rating with Stable Outlook, Reflecting Economic and Financial Resilience
-
Fintech PR4 days agoCurve Pay Introduces 1% Cashback for International Spending, Eliminating Foreign Transaction Fees – The Only Global Wallet That Allows Payments Like a Local
-
Fintech5 days agoDrofa Comms and CryptoUK Boosting Crypto Education in the UK with New Initiative
-
Fintech PR4 days agoNAGA Launches New ‘Everything Money’ Website Experience, Unifying Trading, Investing, Crypto, and Payments