The asset management VC of the Japanese insurance conglomerate joined the compact fusion energy company with a deferred investment, pursuing decarbonization and innovation in the energy sector

TEL AVIV, Israel, Aug. 31, 2023 — nT-Tao, the compact fusion energy company setting a new standard for the future of clean energy, today announced that MITSUI SUMITOMO INSURANCE Venture Capital, the Japanese asset management arm of Mitsui Sumitomo Insurance Company, has joined the Series A funding round in a deferred investment for an undisclosed sum. nT-Tao announced its Series A round in February of this year, closing $22M in funding led by Delek US – a Fortune 500 downstream energy company – Next Gear Ventures and Mayer Cars & Trucks Group, with additional participation from Honda, the Grantham Foundation, the lead investor in the company’s seed round, J-IMPACT, East Innovate (the VC arm of East Alpha) and OurCrowd. These new funds enable nT-Tao to continue to develop and test its Compact Fusion Reactor, expand its team of physicists, and pursue other regional and global partnerships.

nT-Tao is pioneering a compact and scalable nuclear fusion solution aimed at significantly reducing reliance on fossil fuels and overcoming the limitations of existing renewable energy sources. Leveraging the strengths of both tokamak and stellarator technologies (two competing approaches used in nuclear fusion research to confine plasma within magnetic fields to facilitate the fusion reactions), nT-Tao has developed its Compact Fusion Reactor and is currently in the experimental phase of C1, the first of its Series C prototypes.

“We are excited to have MITSUI SUMITOMO INSURANCE Venture Capital join us on our mission as we continue to partner with companies dedicated to solving the climate crisis,” said Oded Gour-Lavie, CEO and Co-Founder of nT-Tao. “This marks the second strategic investment in nT-Tao from a Japanese conglomerate, and we look forward to expanding our partnerships in Japan and beyond, as we accelerate research and development of our compact fusion energy solution.”

“Fusion energy is the future of clean energy, and as a company that is dedicated to sustainable growth and addressing climate change, it is our responsibility to help enable that future,” said Ryosuke Ide, Investor of MITSUI SUMITOMO INSURANCE Venture Capital. “We are impressed with what nT-Tao has achieved in such a short amount of time and the scientific approach they are taking and are excited to be a part of their journey to bring the cleanest form of energy to humanity.”

nT-Tao’s unique approach includes a proprietary magnetic chamber topology that dramatically reduces energy loss and effectively maintains core temperature, enabling the creation of a Super Stabilized Confined Plasma. Additionally, nT-Tao’s unique power supply technology is expected to enable plasma heating at densities orders of magnitude higher than other approaches. This, coupled with its significantly reduced pulse length, leads to an astounding increase in the rate of ion collisions, yielding greater overall efficiency which results in a much smaller fusion reactor footprint.

nT-Tao’s Compact Fusion Reactor design – the size of a shipping container – will be scalable and easily integrated into a multitude of settings and power requirements. Once commercialized, its versatile design and independent solution will make it adaptable for everything from industrial facilities to small towns and off-grid locations.

About MITSUI SUMITOMO INSURANCE Venture Capital

MITSUI SUMITOMO INSURANCE Venture Capital is a Japanese venture capital firm, a wholly-owned asset management VC subsidiary of Mitsui Sumitomo Insurance Company. The firm invests in domestic and foreign startups that have innovative technologies and business models with high growth potential addressing global social issues such as climate change, mainly in the areas of Climate tech, AI, fintech, and healthcare.

About nT-Tao

nT-Tao is disrupting the global energy sector by engineering a compact and scalable nuclear fusion energy technology with the goal of achieving commercialization this decade. The company’s proprietary ultra-fast plasma heating method will enable it to reach significantly higher densities than other fusion reactors, thereby making its fusion reaction orders of magnitude more effective and resulting in significantly greater efficiency of energy production than other leading solutions. Co-founded by Oded Gour-Lavie, Doron Weinfeld, and Boaz Weinfeld, emerged from stealth in 2022 and is headquartered in Israel. For more information, visit www.nt-tao.com and follow the company on LinkedIn and Twitter. nT-Tao will be at COP-28 in Dubai – please email [email protected] to arrange a meeting.

SOURCE nT-Tao

TORONTO, Aug. 30, 2023 – FlipGive, North America’s leading cashback rewards and end-to-end fundraising solution for youth sports teams, is excited to announce a successful $5 million CAD financing round. Capital raised in the round will be applied to further grow the FlipGive direct-to-consumer app across North America, and to scale FlipGive’s new white label embedded cashback rewards shopping platform.

FlipGive Rewards, a white label embedded cashback rewards shopping platform unlocks a new source of revenue for sportstech, schooltech, and causetech companies, leveraging FlipGive’s proven model for turning everyday shopping into reliable, recurring donations via cashback rewards.

The Round was co-led by Thrive Venture Fund at BDC Capital and Framework Venture Partners.

FlipGive simplifies youth sports fundraising. With over 800 brand partners, a percentage of every dollar shoppers spend via FlipGive goes directly to the team as a cashback reward. This modern take on fundraising lowers costs for youth sports so kids can play more and spend less on the sports they love.

FlipGive is a certified Beneficial Corporation (B-Corp) deeply committed to accessibility in youth sports. To date, FlipGive has given back over $50M by helping sports families across North America turn everyday shopping into effortless fundraising.

“Youth sports have never been more expensive than they are today, especially as families feel the pressures of double-digit inflation. 44% of parents say they struggle to fund their kids’ sports and activities,” said Amy Halpenny, CEO of FlipGive. “FlipGive offers a solution to offset the rising cost of play; a fast, free, and easy way to fund a youth sports season by earning cashback from everyday shopping.

FlipGive Launches Embedded Cashback Rewards Shopping Platform

Launched in August, the FlipGive Rewards platform enables companies in sportstech, schooltech, and causetech verticals to seamlessly embed a white label fundraising-via-cash-back model into their offering.

The FlipGive Rewards platform expands the impact of FlipGive’s proven model in youth sports fundraising and opens exciting new opportunities in the $500B charitable and school fundraising space.

“Leagues, teams, schools, and charities need new ways to extend fundraising beyond traditional donations. FlipGive Rewards will help sportstech, schooltech, and causetech companies to leverage not just a new idea for fundraising but a new wallet entirely,” said Halpenny. “Everybody shops. With FlipGive, everyday shopping delivers reliable, recurring online donations year-round via cashback rewards that are donated to the supported cause.”

“We’re excited to support FlipGive as it grows and accelerates the development of its  embedded cashback rewards platform, now delivering recurring cashback-as-donations to address one of the biggest pain points in charitable fundraising sector, ” said Michelle Scarborough, Managing Partner, Thrive Venture Fund at BDC Capital. ”From the beginning, FlipGive has transformed how sports teams fundraise and has demonstrated positive impact on thousands of families in North America — all while making it easier for everybody to give back.”

First FlipGive Cashback Rewards Partner

Timing of the round coincides with the launch of the first white label FlipGive Rewards partner, TeamLinkt. TeamLinkt is one of North America’s fastest-growing sports management and team apps. Powered by FlipGive, TeamLinkt Rewards makes it easy for TeamLinkt’s over 1.5M users to lower cost of play with cashback rewards from everyday shopping online and in-store with 800+ brands.

“Sports leagues, clubs, teams, and associations look to TeamLinkt to solve their administration challenges so they can invest their time and resources into growth. Working with FlipGive to power an embedded cashback rewards shopping solution expands TeamLinkt’s ability to serve the needs of our over 1.5M users. One of the biggest challenges teams face is rising costs. TeamLinkt Rewards, powered by FlipGive, gives our users a seamless way to use everyday shopping to help fund their season,” said TeamLinkt CEO and Co-Founder, Jay Maharaj. 

ABOUT FLIPGIVE

FlipGive (flipgive.com) is an easy-to-use cashback app for teams, designed to help sports parents lower the cost to play by shopping for the things they’re already buying from over 800 top brands. Cashback from groceries, gas, dining, gear, travel, and more reduces player fees, ensuring no family has to choose between sports, their budget, and their time. FlipGive Rewards gives  companies in sportstech, causetech, schooltech verticals an easy way to seamlessly embed a white label version of FlipGive’s unique shopping-as-cash-back fundraising model into their platforms.

ABOUT BDC CAPITAL

BDC Capital is the investment arm of BDC, Canada’s bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

ABOUT TEAMLINKT

TeamLinkt (teamlinkt.com) provides a Free Sports Team Management App and League Management Platform. Used by thousands of teams and leagues, TeamLinkt offers a simple way to organize and connect teams, leagues, associations, clubs, and schools.

SOURCE FlipGive

First cohort of emerging managers joining Recast Accelerate includes 36 women-led funds

NEW YORK, Aug. 31, 2023 — Recast Capital, a platform dedicated to investing in and supporting emerging managers in venture, today announced the first cohort of Recast Accelerate, a catalytic program designed to drive the success of women and nonbinary-led, early stage US funds in venture capital.

The review process was supported by a selection committee of limited partners with experience working with emerging managers in venture, including Ashlie Tyler of Bank of America, Geoff Abrahams of The Harry and Jeanette Weinberg Foundation, Katie Fackler of a private family office, Lisa Cawley of Screen Door, Angela Outlaw-Matheny of Crewcial Partners, Margot Kane of Spring Point Partners, and Matt Rho of Avivar Capital.

The Fall 2023 cohort is composed of 36 funds, 25% of which include at least one GP that is Black, 17% Latinx, 39% Asian, 8% from the LGBTQIA+ community, and 36% are first-generation U.S. citizens. The funds are headquartered all across the US, covering 13 states. Over 83% of the funds involved are raising Fund 1 and 53% are a solo GP. Some of the top sectors of focus include health and wellness, consumer technology and climate technology. The original goal was to select 30 funds for the inaugural cohort; however, the strength of the applicant pool coupled with the particularly challenging fundraising environment for underrepresented GPs today motivated Recast to work to increase the size of the group and support more managers.

The Recast Accelerate inaugural cohort includes:

• Chi Achebe, Achebe Capital
• Annie Luchsinger, Breakers VC
• Pamela York, Kathy Tune, Capita3 Ventures
• Tessa Flippin, Capitalize VC
• Sally Zheng, Centenarian Fund
• Jennifer Kan, Michael Luciani, Climate Capital
• Rebecca Gevalt, Meg Vorland, Meagan Metzger, Dcode Capital
• Megan Maloney, Dria Ventures
• Mahrinah Shije, Endemic Venture Capital
• Jenny Fielding, Scott Hartley, Everywhere Ventures
• Connie Bowen, Farmhand Ventures
• Jenny Barba, Jeff Chu, Features Capital
• Kathryn Finney, Genius Guild Greenhouse Fund
• Jennifer Keiser Neundorfer, Maren Thomas Bannon, January Ventures
• Helene Servillon, JourneyOne Ventures
• Ariane Tom, Kaleida Capital
• Madeline Darcy, Kaya Ventures
• Rohini Chakravarthy, Chad Bailey, NewBuild Venture Capital
• Batchimeg Ganbaatar, Tem Tumurbat, Nomadic Venture Partners
• Kimberley Nixon, Open Venture Capital
• Erica Wenger, Park Rangers Capital
• Jenny He, Position Ventures
• Rachel ten Brink, Herman Goihman, Red Bike Capital
• Lisa Morales-Hellebo, Brian Laung Aoaeh, REFASHIOND Ventures
• Tahira Dosani, Vikas Raj, ResilienceVC
• Tara Tan, Strange VC
• Sonam Velani, Laura Fox, Streetlife Ventures
• Noramay Cadena, Shayna Harris,  Supply Change Capital
• Sydney Thomas, Symphonic Capital
• Stephanie Campell, Leslie Goldman, Diana Murakhovskaya, The Artemis Fund
• Himalaya Rao-Potlapally, The BFM Fund
• Amber Illig, The Council Fund
• Allison Barr Allen, Trail Run Capital
• Danielle Steer, Amanda Heyman, Adam Choe, Tundra Ventures
• Brita Rosenheim, Beatriz Franco, Vita Vera Ventures
• Gale Wilkinson, Caroline Casson, VITALIZE Venture Capital

“I’m thrilled to welcome Recast Accelerate’s first cohort, a group of high caliber and well-deserving managers. We’re excited to work with this talented group of GPs,” says Sara Zulkosky, Co-Founder and Managing Partner of Recast Capital. “We look forward to supporting their firms’ evolution as they leverage the program’s various resources. The fundraising landscape has been particularly challenging for emerging managers, and we hope that having access to the networking opportunities, educational components, and additional capital through the program will help them expedite their success in market. We are looking forward to the impact that they can have on the broader venture ecosystem.”

Recast Accelerate launched in early 2023 with the intent to help more diverse managers successfully raise and run institutional-quality funds over time. Accelerate began by focusing on women and nonbinary-led emerging venture managers, and provides access to Recast’s established Enablement Program, including key educational content, professional development and community-building resources, complimentary executive coaching, and $100k to be leveraged in support of each fund’s backend operations. The program is rooted in the hypothesis that by increasing the number of emerging GPs that identify as women or non-binary, particularly those focused on investing at the earliest stages of company development, you will also increase the percentage of VC funding to founders from underrepresented backgrounds. The only requirement is each manager agrees to report on the demographics of the founders they back and the findings will be publicly released.

“We are passionate about helping to increase the number of underrepresented emerging managers because they are bringing innovation to an industry long overdue for change,” said Courtney McCrea, Co-Founder and Managing Partner of Recast Capital. “Accelerate is one of the first programs of its kind to fully support women and non-binary emerging managers with no strings attached. We are grateful for the trust that these managers and funds have placed in Recast to join along on this exciting journey to change the face of venture capital.” 

Early support for Accelerate comes from Pivotal Ventures, a Melinda French Gates company. Recast is looking to bring additional funders on board to broaden the program’s reach, include more managers in future cohorts and provide more funding to the managers. In addition to this cohort, the Accelerate program will announce two additional cohorts over the next two years. Recast Accelerate is a fiscally sponsored project of New Venture Fund, a 501(c)(3) public charity.

To learn more about Recast Accelerate visit: https://recastcapital.com/accelerate/ or or email [email protected].

About Recast
Recast Capital is a 100% women-owned venture capital platform that invests in and supports top-tier emerging fund managers, with a focus on diverse partnerships. The platform was built to drive returns and create substantive change in the venture industry.

Founded by seasoned, institutionally-trained fund investors Courtney McCrea and Sara Zulkosky, Recast Capital leverages its deep network and exceptional track record to provide its limited partners diversified exposure to top-performing emerging managers, as well as access to a pipeline of the future’s industry-leading franchises.

Recast also launched the Enablement and Accelerate Programs as powerful complements to its fund investment strategy; the programs provide learning and development opportunities for emerging managers in venture, allowing Recast to support more of the community than just those it can invest in via their fund investment strategies.

Learn more at www.recastcapital.com.

Media Contact
Gabby Champion
760-636-3490
364697@email4pr.com

SOURCE Recast Capital

Topgolf Callaway Brands Joins as Partner Dedicated to Driving Innovation in Golf 

NEW YORK and FRISCO, Texas, Aug. 31, 2023 — Today, EP Golf Ventures, LLC (“EP Golf Ventures”), a strategic investment partnership between Elysian Park Ventures and the PGA of America designed to support innovation in the golf industry, announces the completion of the first closing of its first investment fund, EP Golf Ventures Fund I (the “Fund”). 

EP Golf Ventures invests in areas that add strategic value across the $102 billion golf industry, supporting organizations that seek to improve coaching, education and training; health, wellness and performance science; hospitality and facility management; retail; and agriculture. Selected investors in EP Golf Ventures Fund I include Topgolf Callaway Brands (NYSE: MODG) the unrivaled tech-enabled modern golf and active lifestyle company with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, Jack Wolfskin, and World Golf Tour (“WGT”); Gametime Capital, the family office of Richard Fairbank; and several other institutions, individuals and investors across the sports, technology and media ecosystem. 

Both Elysian Park Ventures and the PGA of America have directly committed capital to the Fund. EP Golf Ventures expects to complete a second close of the Fund later this year. 

“EP Golf Ventures has a strong investment thesis that is strategically aligned with our mission to drive innovation, new personality, trends and attitudes in golf,” commented Chip Brewer, President & Chief Executive Officer of Topgolf Callaway Brands. “Elysian Park’s institutional knowledge and network combined with the PGA of America’s golf industry expertise offers an unparalleled platform to identify promising entrepreneurs and organizations that will capture the market opportunity in this rapidly changing and growing sport, and usher in the next generation for the game we all love.” 

EP Golf Ventures has already made four investments in technologies that are poised to change the golf industry – Sportsbox AI, an AI-powered technology company that develops coaching applications through markerless 3D motion capture; Dryvebox, an organization working to increase golf access to all through a mobile golf simulator that offers lessons, practice sessions, virtual golf and private events; Sensible Weather, a climate technology company helping consumers understand climate and de-risk adventures against the weather; and Repurpose, a plant-based compostable tableware company. EP Golf Ventures expects to build a portfolio of approximately 15 companies over time.

“Golf is one of the world’s fastest growing sports, and there is an enormous opportunity to drive innovation across all facets of the game,” said Jay Adya, Managing Partner of Elysian Park Ventures. “We started EP Golf Ventures with the PGA of America to partner with standout entrepreneurs that have the ability to create real change within the golf industry and beyond. Completing this first close further validates our approach, and we look forward to growing our portfolio with support from our new investors and partners.”

“The PGA of America is committed to growing the game and advancing the industry through the PGA Professional,” said Arjun Chowdri, Chief Innovation Officer at the PGA of America. “With the backing of our new partners, along with our continued partnership with Elysian Park Ventures, we look forward to supporting businesses that have the vision to drive innovation in the golf industry and create opportunities for the PGA Professional.”

About EP Golf Ventures
EP Golf Ventures is a strategic investment partnership between the PGA of America and Elysian Park Ventures designed to support innovation in the golf industry and create opportunities for the PGA Professional. EP Golf Ventures invests in businesses and entrepreneurs focused on coaching and training; health, wellness and performance science; hospitality; facility management; retail and agriculture. 

About Elysian Park Ventures
Elysian Park is a global investment platform dedicated to building the future of sports. Created by the ownership of the Los Angeles Dodgers, Elysian Park invests at the intersection of sports, health, culture, commerce, and technology. Elysian Park works with companies across stages from seed to growth to provide perspective, relationships, capital and exclusive strategic resources including the Trailblazer Venture Studio, Global Sports Venture Studio, Robin, Fitt Insider, and EP Golf Ventures in partnership with PGA of America, among others. Learn more at elysianpark.ventures.

About the PGA of America
PGA of America is one of the world’s largest sports organizations, composed of more than 28,000 PGA Professionals who work daily to grow interest and inclusion in the game of golf. For more information about the PGA of America, visit PGA.com and follow us on Twitter, Instagram and Facebook.

SOURCE EP Golf Ventures

COPENHAGEN, Denmark, Aug. 31, 2023 — BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, today announces that eight new companies have entered its Venture Lab acceleration program for early-stage companies. The cohort is strategically aligned with BII’s focus on supporting innovative early-stage start-ups within human and planetary health. 

The 12-month Venture Lab program is designed to support start-up companies with business acceleration, scientific, and team development, and provides a founder-friendly convertible loan of EUR 500,000 (approximately 4M DKK) plus access to labs and offices at the BII in Copenhagen. In becoming a part of the Venture Lab program, the early-stage companies also get an exclusive opportunity to apply for EUR 1.3M in follow-up funding through BII’s Venture House program.

Bobby Soni, Chief Business Officer at BioInnovation Institute, said: “These eight early-stage companies are a fantastic addition to BII’s Venture Lab. The start-ups have been selected as they demonstrate great potential to drive the innovation of solutions to current challenges in human and planetary health. We once again look forward to supporting these start-ups by providing our knowledge, network, funding, and infrastructure to build successful companies.”

Each start-up will be supported in undertaking the necessary steps to reach initial proof-of-concept, to make a business plan and to set up a team. Assisted by a dedicated scientific advisor, a leadership coach and a BII business development expert, the new ventures will be guided in developing a detailed milestone plan and will be assisted in overcoming the challenges of growing a business allowing them to progress rapidly towards the market.

The new companies BII has accepted into the Venture Lab acceleration program are:

• Loma Therapeutics is developing targeted immunotherapy for efficient and safe treatment of patients with HPV infection, dysplasia, and cancer.
• metaLead is developing revolutionary therapies to treat metal-related diseases, currently focused on Wilson disease, lead poisoning, and neurodegeneration with brain iron accumulation.
• Leopard Biosciences is democratizing diagnostics by bringing the power of molecular testing to where it’s needed most: in the hands of doctors and patients at the point of care.
• Novozymes’ Venture (Corporate Sponsored Project) is exploring how to play a key role to develop and produce at scale cell culture media ingredients for the cultivated meat industry.
• Amalus Therapeutics is on a mission to profoundly reshape the lives of people affected by cancer and fibrotic diseases.
• BioHalo is revolutionizing the halogenated chemicals industry by starting with the production of more sustainable and bio-based fluorinated polymers and high-performance materials.
• Visibuilt is developing an innovative solution for road construction that replaces fossil ingredients in asphalt and reduces energy consumption during production.
• Rapidemic is developing a molecular point-of-care test for fast and accurate diagnosis of sexually transmitted infections.

Since its inception in 2018, BII has supported 87 start-ups and projects with EUR 77 million alongside the venture capital, industry and business expertise it provides to help them accelerate to the next level.  In total, BII’s start-ups have raised over EUR 424 million in external funding from both local and international investors.  Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.

Read more about the Venture Lab program 

About the BioInnovation Institute Foundation:
At BioInnovation Institute (BII), we accelerate world-class life science start-up innovation for the benefit of people and society. As a non-profit institute, BII operates the company creation programs, Bio Studio, Venture Lab and Venture House, to support life science start-ups with knowledge, network, infrastructure and funding of up to 3M EUR per projects and 1,8 M EUR per start-up. With our expertise, network, funding, and infrastructure, we empower startups to succeed and believe in the transformative power of life science innovation. Read more on www.bioinnovationinstitute.com 

SOURCE BioInnovation Institute

Funding Sets Stage to Build Industry-Leading Sorting and Processing Facilities Across North America to Serve the $10 Billion Mixed Aluminum Scrap Market

MARKLE, Ind., Aug. 30, 2023 — Sortera Technologies, Inc., an innovative material sorting company with a recycling platform powered by artificial intelligence, data analytics, and advanced sensors, today announced the close of a $30.5 million Series C funding round led by RA Capital Management-Planetary Health with participation from certain funds and accounts advised by T. Rowe Price Associates, Inc., the Mineral Resources Group, which is a part of Mitsubishi Corporation’s Business Incubation Unit, and Macquarie GIG Energy Transition Solutions (“MGETS”). Additional existing investors include Assembly Ventures, Breakthrough Energy Ventures, and Chrysalix. This funding will fuel Sortera’s growth as a major player in the domestic upcycling space. Additionally, it will help to affirm the company’s commitment to solutions that create new upcycling streams, enable a circular economy, and contribute to a more sustainable future.

In just two and a half years of operations, Sortera has demonstrated that its technology platform can accurately and rapidly handle complex sorting of pre-production aluminum and end-of-life mixed metals. Sortera’s first full-scale facility, located in Markle, Indiana, is currently being commissioned to sort up to 220 million pounds of mixed metals per year. By sorting mixed metals into single alloy streams, Sortera enables greater use of recycled material in manufacturing, lowers the costs of metals production, increases the availability of metals for domestic manufacturers, and reduces pollution and greenhouse gas emissions associated with virgin metals production. The resulting high-quality upcycled materials from Sortera’s operation will be put back into the U.S. market, representing a significant contribution to the circular economy movement and to the security of domestic resources. The Series C funds will be used to expand Sortera’s operations in North America and accelerate the company’s growth in the more than $1 trillion metals and recycling markets.

Sortera recently established an R&D facility in Austin, Texas, to focus on advancing its already robust sorting platform that uses advanced sensors and artificial intelligence. The company aims to transform the recycling industry by driving innovation and focusing on sustainability in the upcycling sector to build a network of world-class sorting and processing facilities. Sortera’s technology allows it to capitalize on domestic feedstocks that have traditionally been sent overseas to be recycled into lower-grade materials. Sortera will continue to expand its capabilities in metals and other recyclable materials that are critical to future growth of the economy.

“To have secured interest and commitments from globally recognized high caliber investors such as RA Capital Management, T. Rowe Price, Mitsubishi Corporation, and MGETS, along with our existing investors Assembly Ventures, Breakthrough Energy Ventures, and Chrysalix, who understood the level of sophistication, effectiveness, and potential of our technology platform from the earliest stages, not only validates the importance of our technology for the domestic U.S. recycling market but its potential on a global scale,” said Michael Siemer, CEO, Sortera Technologies. “This funding round affirms our contributions towards global sustainable efforts and will be used to scale our operations to commercialization, grow our team, and, most importantly, continue to provide high-quality upcycled metal materials to our customer base.”  

By using the latest advancements in artificial intelligence, Sortera is bringing lightning-speed changes to a centuries old industry and is creating a sustainable, efficient, and automated recycling process.

“Sortera’s technology advances the goals of a healthy environment and a healthy economy, and does so in a critically important sector,” said Kyle Teamey, managing partner, Planetary Health at RA Capital Management. “Non-ferrous metals, such as aluminum and copper, are essential to the ongoing massive growth in renewable energy and electric vehicles that are at the core of the energy transition. Sortera enables the transition to a cleaner, more productive economy while also providing an economic boon to metal producers.”

Mr. Siemer concluded, “We are perfectly situated to seize the momentum and success of our technology platform and talented research team to expand our recycling capabilities into additional key materials and industrial applications. This will both expand Sortera’s reach as a key player in the mixed alloy industry, as well as establish our leadership role in the global circular economy movement. Perhaps equally as important is showcasing the sophistication, innovation, world-class execution, and dedicated focus of sustainability solutions that are coming out of the nation’s heartland.”

The company’s Markle, Indiana plant is expected to be fully operational in 2023. Once up and running, the Markle facility will increase Sortera’s overall processing capacity to 220 million lbs. of mixed aluminum scrap annually, which would otherwise be sent overseas along with an estimated 4 billion lbs. of scrap aluminum that has been traditionally shipped abroad annually for processing. Sortera is focused on advancing the recyclability of a variety of other materials, which will contribute to the reduction of overall CO₂ emissions and advance customers’ sustainability goals. Sortera is committed to leading the charge in revolutionizing the recycling industry and creating a more sustainable future for all. Recently, the Company changed its name from Sortera Alloys to Sortera Technologies to reflect its intentions to work with upcyclable materials beyond just metal alloys.

About Sortera Technologies, Inc.
Sortera Technologies, Inc. brings state-of-the-art artificial intelligence data analytics to the recycling industry. This disruptive technology drives new paradigms by generating new upcycled products through advanced sortation methods. Creating novel recycled metal fractions from existing scrap recycling streams enables the domestic production of metals for manufacturing, boosting the strength of the circular economy. Sortera is led by a team of seasoned innovators in the fields of advanced materials, electronic instrumentation, and equipment development. For more information visit: www.sorteratech.com.

About RA Capital Management
RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing. The flexibility of its strategy allows RA Capital Management to provide seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, both facilitating the crossover process and allowing management teams to drive value creation from inception through commercialization. Planetary Health focuses on creating and funding companies that develop and commercialize cost-effective solutions to reduce emissions, increase resource availability, and restore environmental quality. 

Media Contact
Chris Allieri
[email protected] 

SOURCE Sortera Technologies, Inc.

Capital being directed to the advance and scale up of proprietary technologies in battery metals recovery from spent batteries, lithium battery fire mitigation products and the manufacture of battery storage systems from spent lithium batteries

SYDNEY, Aug. 30, 2023 — It has been a busy past few months for Australian battery recycling technology startup Battery Pollution Technologies.

Today the following positive advances are announced:

Pre Seed Capital Raising Closed
A heavily oversubscribed pre seed capital raising has been closed which has brought in a select number of senior industry executives as shareholders of the Company. The new shareholders bring relevant business networks to the Battery Pollution Technologies corporate mission – including with deep connections to heavy industry, the mining & infrastructure, energy transition and foreign markets – in particular Indonesia.

The capital is being dedicated directly to the advancing of the Company’s proprietary technologies including in the areas of black mass separation & metals recovery, communications smart transportation units and fire event suppressants aimed at mitigating the impact and risk of Lithium Battery fires.

The work with the University of Newcastle continues to progress smoothly and satisfactorily in these areas with the suppressant and risk mitigation products now being developed under the X-Li™ brand – an acronym for extinguish Lithium and the cobalt/lithium/nickel/graphite recovery process under a proprietary approach which is referred to as LiRxR™ technology.

Scale up of senior resource has also commenced with a senior commercial role having been filled and to be announced in the next few days. No fees or other professional costs were incurred in executing the capital raising.

2nd Life Battery Brand Revealed
The Company’s ambitions and strategy in the development of 2^nd life battery storage systems from spent batteries continues to advance. This initiative will be developed under the Daintree Batteries™ brand family.

The Daintree Rainforest in North Queensland is an inspirational case study in nature’s circular economy. All organic matter is efficiently recycled and repurposed. Daintree Batteries™ is driven not only to maximise the opportunity of spent lithium cell reuse, but also to incorporate recycled materials in the battery production process – in particular waste PET bottles and other plastic pollutants.

Company Name Evolved
We have also reflected on the progress of initiatives and the core mission of the Company. More than a standard recycling operation the focus remains on both the development of recycling sector technologies and the mechanical recycling process. To this end the Company’s name has been slightly modified with the inclusion of the word Technologies.

Our mission on finding unique, commercially affordable technologies which minimises the impact of battery related pollution on the planet continues.

Association for the Battery Recycling Industry Appointment
The Company is also pleased to announce that its Founder & CEO, Nicholas Assef, has been appointed President of the Association for The Battery Recycling Industry.

To learn more on the Association visit: www.batteryrecycling.org.au

Daintree Life Support
Battery Pollution Technologies is also pleased to announce that it has signed on as a Silver Sponsor of the Daintree Life charitable initiative which is a boutique initiative aimed at replanting areas of the Daintree Rainforest.

Our Silver Sponsorship will mean that over 150 new trees will be planted in land within the wider Daintree Rainforest region in the first year of our support. All key staff and stakeholders of Battery Pollution Technologies have also signed on as individual members of Daintree Life – having a tree planted in each of their names as a result.

Daintree Life’s mission statement reads:

Promoting positive outcomes in the heart of the Daintree Rainforest via education and a goal of planting 500,000 trees globally by 2030.

Whilst Battery Pollution Technologies is in its early stages of development it is still important that we align with charitable initiatives that are pure to our cause.

Daintree Life is a catalyst for the preservation of our precious rainforests and we would encourage the wider community to both learn more on their mission and to support their work. More can be learned at : www.daintreelife.com.au

Nicholas Assef, Battery Pollution Technologies Founder & CEO commented on the positive developments: “Things are progressing smoothly and quietly with the Company’s operational focus on all initiatives remaining the highest priority. The potential for commercial success is incredible but we need to continue with our sense of urgency to deliver relevant cost-effective commercial technology”.

Contact:
Public Relations
***@batterypollution.com

Photo(s):
https://www.prlog.org/12981696

Press release distributed by PRLog

SOURCE Battery Pollution Technologies

jbrds reimagines kid’s footwear with stylish, physician-designed shoes engineered for their feet.

BALTIMORE, Md., Aug. 30, 2023 — jbrds, a new children’s footwear brand anatomically designed to support foot structure and activity requirements at four distinct stages of a child’s physical development, successfully subscribed a modest seed round establishing a $5,000,000 valuation.

The successfully completed seed funding round comes on the heels of launching its first product line of Stand2Walk shoes for sale in July of 2022. Bringing a first-of-its-kind model to the market, jbrds offers a kid’s shoe designed for a kid’s foot that seamlessly blends function and style to match parents’ active lifestyles.

Co-founded by leading podiatrist and foot and ankle surgeon Dr. Jay LeBow; former sports industry veteran at Mizuno and Adidas Mike Gugat; and top sporting goods merchant David Hirshfeld, jbrds reimagines children’s footwear for children and babies.

Its Stand2Walk patent-pending design uniquely supports the young wearer’s lateral column and developing cuboid bone while stabilizing the heel. This combination of support and stability promotes the healthy development of a child’s foot.

“After reviewing hundreds of X-rays and evaluating the current offering of generic kids’ footwear, it was clear there was a need in the footwear industry jbrds could fill,” said Co-Founder and Chief Product Officer Dr. Jay LeBow. “Now, every child can start on the right foot with shoes designed for their developmental needs and crafted with clinical expertise.”

jbrds’ created Stand2Walk anatomically designed footwear for children with the following features that make it easier for babies to stand, balance and walk:

• Injection-molded support cage — a patent pending design to promote the healthy development of feet.
• Velcro strap — easy for parents to slip on, hard for baby to take off.
• Sock-like upper — instant comfort, socks optional
• Suede outsole — just enough grip so baby won’t trip.
• 0-drop outsole — promotes the development of healthy tendons to limit future foot and ankle problems

“We’re here to finally put an end to outfitting babies and young children with adult shoes shrunk down to fit kids’ feet,” said CEO and co-founder Mike Gugat. “Our mission is to start kids off on the right foot, and jbrds is leaving the ‘one-size-fits-all’ approach to children’s footwear behind. We’re meeting kids’ needs from cradle to eight years old to avoid possible problems later in life from wearing ill-fitting, or simply the wrong shoes as a child.“

Customers can purchase jbrds’ Stand2Walk shoes with free two-day shipping directly from www.jbrds.com.

Access photos, video and the full press kit here.

About jbrds:
jbrds is a Baltimore-based footwear startup for infants, toddlers and kids. Its mission is to start kids off on the right foot for a life filled with physical activity. jbrds is creating innovative footwear with its introductory shoe, the Stand2Walk, designed to uniquely support the lateral column and developing cuboid bone while stabilizing a child’s heel. Following its first product line, Stand2Walk (ages 9-18 months), the company will introduce ranges for all developmental phases of kids’ lives — Walk2Run (ages 18 months to 3 years), Run2Play (ages 3-5 years) and GoPlay (ages 5-8 years). Purchase jbrds at www.jbrds.com.

Contact:
Brian Principato, PR Consultant for jbrds
e-mail: [email protected]

SOURCE jbrds

Parker’s appointment is a significant milestone as Kanarys strives to help organizations integrate their DEIB efforts into sustainable, impactful business practices. 

DALLAS, Aug. 30, 2023 — Kanarys, Inc., a leading diversity, equity, inclusion, and belonging (DEIB) technology company focused on providing the tools organizations need to create long-term systemic change around DEIB challenges, announces today the appointment of Melonie D. Parker, chief diversity officer at Google, Inc., to its Board of Directors.

Parker is an award-winning C-suite leader who brings more than three decades of experience delivering measurable impact and equitable outcomes for communities across the globe. As a dedicated advocate for diversity and inclusion in corporate environments, she has been the driver of Google’s commitment to addressing the tech industry’s talent pipeline in its workforce as well as fostering diversity amongst emerging entrepreneurs. Prior to Google, Parker was the first Black woman to serve as the Vice President of Human Resources and Communications at Sandia National Laboratories, and she held a variety of progressive leadership roles over a 17-year period at Lockheed Martin.

“As someone who has dedicated my career to fostering inclusion and empowering workplaces, I look forward to working with Kanarys to drive DEIB impact across industries on a global scale,” said Melonie Parker, chief diversity officer at Google, Inc. and member of the board of directors at Kanarys. “With data being key to sustaining DEIB progress and commitment, Kanarys has set the standard in creating measurable DEIB solutions, by harnessing its data-driven approach to building a more equitable future for all workplaces.”

“At Kanarys, our work is centered around the significance of a data-driven DEIB strategy because it enables organizations to identify and address systemic inequities, foster inclusive workplace environments, and drive meaningful change,” said Mandy Price, co-founder and CEO at Kanarys. “With her expertise in leveraging data to propel Google’s employee engagement strategy within DEIB, Melonie Parker brings invaluable experience and knowledge to our team. Under her expert guidance, we will further Kanarys’ innovative data-driven platform and provide the framework that companies need to deliver comprehensive DEIB strategies that truly cultivate inclusive workplaces.”

In just five years, Kanarys has grown from an idea to a category industry leader in DEIB used by notable companies such as Yum! Brands, Silicon Labs, the Chuck E. Cheese Corporation, 7-Eleven, Neiman Marcus, and several other Fortune 500 companies. The organization has also established strategic partnerships with leading national advocacy groups including INROADS, Prospanica, and the National Urban League. Despite Black women receiving, less than 1% of venture capital funding, Price has raised more than $10.5M in venture capital funding to help companies advance and measure DEIB within their organizations. With their Series A round closing in February 2023, she joined less than 20 Black female founders who have raised more than $10M.

“Kanarys remains at the forefront of providing data-driven DEIB solutions for companies around the world,” stated George Spencer III, senior managing director of Seyen Capital, the lead investor in Kanarys’ Series A financing round. “As companies adapt to increased regulations and reporting standards around environmental, social, and governance (ESG) on a global scale, it’s more critical than ever that companies have the necessary DEIB data to effectively support and retain their employees. With Melonie’s impressive three decades of experience in leading DEIB initiatives, Kanarys is well-positioned to advance their data-driven solutions and provide the data that organizations need to comply with required ESG and DEIB disclosures.”

“Kanarys’ innovative data-driven approach to DEIB has fueled its impressive growth,” said Chuck Stormon, managing partner for StartFast Ventures and Kanarys investor. “Adding Melonie to Kanarys’ Board of Directors will propel the company forward in its mission to create more inclusive and accessible companies where everyone belongs. Her extensive experience and outstanding track record across multiple industries will play a crucial role in providing the necessary guidance to drive Kanarys forward.” 

About Kanarys
Kanarys is a technology company focused on providing the tools organizations need to create long-term systemic change around diversity, equity, inclusion, and belonging (DEIB) challenges. Working alongside mid-size enterprises and Fortune 500 companies, Kanarys transforms DEIB work with data by providing the framework, benchmarking, and data companies need to incorporate best-in-class DEIB into every area of the organization. Like a canary in the coal mine, Kanarys helps organizations ensure healthy work environments by revealing DEIB blindspots before they become a problem. For more information on Kanarys, visit www.kanarys.com.

SOURCE Kanarys, Inc.