INDIANAPOLIS, Sept. 8, 2023 — Orthodontic Details today announced the ordering platform has been adopted by more than 100 orthodontic practices, representing 160 offices across the United States and Canada. These practices ordered from 158 different suppliers in August alone, showing impressive reach by the new platform.

Details, the ordering platform built specifically for orthodontics, gives practices one place to order from any supplier. Aimed at helping practices focus on patients rather than procurement, the company has struck a chord with orthodontists and their staff.

“Details is an invaluable partner,” shared Anu Nellissery, DMD, MS. “What has truly exceeded my expectations is the exceptional customer service. They go the extra mile, which has allowed my clinical staff to focus on patient care rather than ordering. I wholeheartedly recommend them.”

Sought-after speaker and Host of The Digital Orthodontist Podcast Kyle Fagala, DDS, MDS added: “I love seeing tech and innovation like this in our profession. Details is clearly making a positive impact in our practice.”

This week, the company launched “Insights”, which gives practices a real-time view of their supply spend, across suppliers. Practices can see their spend broken down by month, supplier, and category, all in one place.

“What really makes Insights valuable is what we as orthodontists can do with the data,” shared Details Co-Founder and CEO Jeff Biggs, DDS, MS. “I’ve always wanted better visibility into our practice’s supply spend. But that data is spread across suppliers, and a pain to try and reconcile in Quickbooks. With Details, that spending data is centralized, automatically, unlocking amazing insights.”

Details has been quietly piloting “Insights” through the summer, which the company shared is more than just a way to track spend. “We’ve been experimenting with Artificial Intelligence (and Large Learning Models in particular) since long before ChatGPT launched,” shared Details CTO Tom Pritchard. “We know our customers don’t just want to see data, but want help making connections that can save them time and money. That’s where AI comes in, and Insights is just the beginning.”

Practices are seeing the impact features like Insights bring, with Lance Christensen, Office Manager for Christensen Family Orthodontics sharing: “Details makes it easy to quickly order products from multiple vendors, compare prices, and track our spending, which not only saves us time, but allows for better decision making when it comes to purchasing.”

Alongside practice growth, Details has seen a rapid increase in usage of the platform. “Practices submitted more orders to suppliers in the first half of Q2 than all of Q4 last year combined.” shared Details Vice President of Practice Success Carrianne Garrison Ford. “This shows that customers are deeply integrating us into their business, and trust us as they make purchasing decisions.”

Details’ growth and deep integration with customers has helped the company continue to secure supplier partners, since announcing partnerships with 3M Oral Care, G&H Orthodontics, Dynaflex, Reliance, and others in April of 2023.

Most recently, the company added Komet USA, Great Lakes Dental Technologies, Dental City, PUL Technologies, and Second Story Promotions, with practices ordering from more than 158 unique suppliers in August alone. “Working with these partners has been amazing,” Garrison Ford shared. “They care about the best possible outcomes for our mutual customers, and we feel honored to work with them!”

The release of Insights kicks off what Details Co-Founder and President Nick Wangler describes as an “ambitious” second half of 2023, with multiple announcements coming soon. “As a technology company, we’re constantly working on new stuff based on feedback from our customers. Our current pipeline includes some of the coolest projects I’ve been a part of in my 15 years in tech. I can’t wait to show our customers what’s next!”

Media Contact:
Nick Wangler
815-252-4159
[email protected]

SOURCE Orthodontic Details

Founding CEO Tom McAlpin to retire as CEO and transition to Chairman of the Board of Directors. President and CXO Nirmal Saverimuttu named CEO.

MIAMI, Sept. 8, 2023 — Virgin Voyages (the “Company”), the multi, award-winning cruise brand from Richard Branson’s Virgin Group, today announced it has closed on a $550 million capital raise to accelerate its growth plans. The funding round was led by funds managed by the Private Equity Group of Ares Management (“Ares”), a leading global alternative investment manager, and also includes additional capital from existing investors includingVirgin Group and Bain Capital. The new funding raise will enable Virgin Voyages to strengthen its financial position while supporting the brand’s rapid expansion into international markets, with a relentless focus on creating an outstanding and innovative customer experience.

As Virgin Voyages looks ahead to its next phase of growth, the Company further announced that founding Chief Executive Officer, Tom McAlpin, is retiring as CEO and transitioning to the role of Chairman of the Board of Directors. He will continue to support the brand and team at an executive and industry level. Nirmal Saverimuttu, who currently serves as President and Chief Experience Officer, has been appointed the new Chief Executive Officer.

“It is hard to express just how proud I am of all that the Virgin Voyages Crew has created and the strong endorsement we are receiving from Ares. We have won numerous industry awards and received many five-star reviews because of our passion for this brand,” said McAlpin. “While I will miss the day-to-day, I believe it is the right time to step aside as CEO. Nirmal is a great friend and experienced leader who lives and breathes the Virgin Voyages culture. I know he will help take this amazing brand and Crew to new heights, and I look forward to continuing to support the leadership team as Chairman.”

Virgin Voyages officially launched in August 2021 and currently operates three ships, servicing the Caribbean, the Mediterranean, and by the end of the year, Australia and New Zealand. The brand is already making waves, including being named No. 1 in the mega-ship category in the 2023 Travel + Leisure’s World’s Best Awards and a recent clean-sweep of the five cruise categories in the 2023 Cruise Critic Cruisers’ Choice Awards.

“With this new investment alongside our partners at Virgin Group and Bain Capital, we believe the Company is on strong footing to capitalize on its differentiated product and value proposition in the growing cruise industry,” said Aaron Rosen, Partner and Co-Portfolio Manager of Special Opportunities in the Ares Private Equity Group. “We believe that Virgin Voyages continues to be at the forefront of industry growth, and we look forward to working with Tom, Nirmal and the entire management team on this next chapter,” added Jordan Smith, Partner in the Ares Private Equity Group.

“The success of this capital raise shows how much Virgin Voyages has achieved and how much further it can go. We are very proud of the experience that Virgin Voyages has created and continues to deliver every day across its fleet,” said Josh Bayliss, CEO of the Virgin Group. “At Virgin, we have always aimed to create extraordinary experiences and challenge the status quo while putting purpose at the core of everything we do. With Tom at the helm, Virgin Voyages has established itself as a company that can do that consistently. We are so grateful for his and the team’s leadership in creating a truly brilliant business and look forward to this next phase of the Company’s growth.”

Saverimuttu was a founding leader of Virgin Voyages and joined the business as Chief Commercial Officer in 2014 from the Virgin Group after successfully closing the first investment round. In early 2021, he took on the expanded role of President and Chief Experience Officer.

“I want to send our deepest thanks, on behalf of all our Crew and the Board, to Tom for his leadership and passion for the business. We are so grateful for all he has done and are thrilled to continue to partner with him as our Chairman,” said Saverimuttu. “Virgin Voyages is a beloved brand because of our Crew’s dedication and passion for delivering epic experiences for our guests. I am looking forward to working with the Ares team and our existing investors to deliver on our growth and expansion plans as we look ahead to our very bright future.”

Goldman Sachs & Co. LLC served as exclusive financial advisor and sole placement agent to Virgin Voyages. Kirkland & Ellis LLP served as legal counsel to Virgin Voyages. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Ares.

About Virgin Voyages
Promising to Create an Epic Sea Change for All, Virgin Voyages is the award-winning, exclusively adult cruise line founded by Sir Richard Branson. Delivering unforgettable, relaxing vacations at sea, Virgin Voyages launched at the end of 2021. Inspired by superyacht design, its fleet of “Lady Ships” exemplify an elevated, boutique hotel at sea with contemporary spaces that strike the perfect balance of nautical chic and glamour. Currently departing from the sun-soaked cities of Miami, Barcelona and Athens – and soon to include Melbourne – the fleet offers more than 60 unique itineraries, sailing to 100 incredible ports of call. On-board, 20+ eateries feature culinary experiences from Michelin-star chefs, stylish workout spaces and group fitness classes are offered daily, and a festival-like line-up of intimate and larger-than-life shows are on the agenda. Paired with modern, tech-savvy cabins, designer suites fit for a rockstar and a mermaid-inspired spa and thermal suite, the brand is taking the industry by storm. In 2023, Virgin Voyages won Travel + Leisure’s highly coveted World’s Best Award for the best mega-ship ocean cruise line and swept the Cruise Critic Cruisers’ Choice Awards – the first time a brand has won in all five categories.

Media Contact:
[email protected]

About Ares Management Corporation
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2023, Ares Management Corporation’s global platform had approximately $378 billion of assets under management, with over 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Media Contact:
Brittany Cash, +1 212-301-0347
[email protected]

SOURCE Virgin Voyages

SHANGHAI, Sept. 8, 2023 — On September 8, 2023, Grit Biotechnology announced the completion of a Series B financing round, raising over 60 million USD. The investment was led by CICC with participation from Qianhai Ark, Liando Group, Yuanhe Capital, HeFangTian Venture Partnership and existing investors Sherpa Healthcare Partners, Decheng Capital and Matrix Partners China.

The financing will support Grit Biotechnology’s Tumor-Infiltrating Lymphocyte (TIL) pipeline development, including the pivotal Phase II trial for GT101 and the advancement of next-gen gene-edited TIL products. Founded in 2019, Grit Biotechnology is a pioneering cell therapy company focused on delivering transformative cancer treatments. GT101 is currently the fastest-developing TIL therapy in China and will enter a Phase II trial by the end of 2023.

Grit Bio has four core technology platforms central to its TIL development: StemTexp^®, StaViral^®, KOReTIL^® and ImmuT Finder^®, a genome-wide CRISPR/Cas9 screening platform. These platforms have enabled the development of next-generation gene-edited TIL products.

GT201, a genetically engineered TIL product by Grit Biotechnology, boosts T cell survival and function by expressing a vital membrane-bound cytokine. It surpasses traditional TIL therapies in proliferation, tumor-killing and persistence with reduced reliance on IL-2. GT201 IND is approved by CFDA and entered Phase I clinical trials.

GT316, Grit Biotechnology’s next-gen TIL product, enhances TIL performance through knock-out of immunoregulatory targets identified via ImmuT Finder^® CRISPR/Cas9 screening. In PDX mouse models, GT316 effectively eliminates tumors supported by low-dose IL-2 support with minimal toxicity. It offers substantial clinical benefits compared to conventional TIL products and is currently in IIT clinical trials in China.

With 100+ experienced professionals and a 10,000 sqm GMP-level cell therapy manufacturing facility in Suzhou, China, Grit Bio is a leading player in cell therapy field in China aimed at expediting the development of GT101 and next-generation TIL pipelines and addressing the unmet medical needs of solid tumor patients.

About CICC Capital

CICC Capital is the flagship platform of China International Capital Corporation Limited (CICC) for its global private equity businesses and has become a leading internationally influential comprehensive alternative investment brand in China. Currently, CICC Capital runs various categories of RMB private equity funds, including real estate and infrastructure, fund of funds and USD private equity funds.

About Qianhai Ark

Qianhai Ark Asset Management Co., Ltd. is one of the leading and top-tier fund managers in China, jointly founded by Mr. Jin Haitao, a representative figure in China’s venture capital industry who currently serves as the Vice Chairman of the Asset Management Association of China, and Shenzhen Capital Group (SCGC) along with leaders from the financial investment industry. The company is headquartered in Shenzhen, with branch offices in Beijing, Shanghai, Zhengzhou, Qingdao, and other cities. Qianhai Ark currently manages its funds portfolio includes FOFs, regional funds and specialized funds and manages nearly CNY 70 billion in assets. Qianhai Ark covers various sectors such as information technology, life sciences, and advanced manufacturing. Qianhai Ark possesses a vast industrial resource pool, facilitating industrial synergy, and providing substantial support to its portfolio companies.

About Liando Group

Liando Group was founded in 1991, focusing on industrial services and park operations. It has developed into an industrial conglomerate with nationwide influence. Its core enterprise, Liando U Valley, currently invests and operates 432 industrial parks in 83 cities across the country, providing services to over 16,000 emerging manufacturing and technology-oriented companies. Liando Group strategically directs its equity funds through direct investment and venture capital to key emerging industrial areas such as life sciences, intelligent manufacturing, and digital technology.

About Yuanhe Capital

Yantai Yuanhe Capital (hereinafter referred to as “Yuanhe Capital”) was established in 2019 as the equity management institution for external investments of Yantai Financial Development Group Co., Ltd. (hereinafter referred to as “Yantai Financial Group”). As of 2023, Yuanhe Capital has successfully launched 17 funds, managing a total fund size exceeding 3.6 billion yuan and engaging in over 154 investment projects. Yuanhe Capital specializes in providing comprehensive entrepreneurial support and investment opportunities in various sectors, including semiconductors, biopharmaceuticals, and advanced manufacturing. As a dedicated value investor, Yuanhe Capital upholds the core principles of “trust, value, sharing, and cooperation.” The firm’s primary goal is to invest in and assist visionary and creative entrepreneurs in realizing their entrepreneurial aspirations with success.

SOURCE Grit Biotechnology

SAN FRANCISCO, Sept. 7, 2023 — Flickr, in joint partnership with SmugMug, announced today a new grant with the Black Women Photographers collective (BWP) to celebrate the community’s three-year anniversary.

This transformative grant includes a fund of $2,500, dedicated to advancing the recipient’s photography practice, coupled with a two-year Flickr Pro membership and a one-year SmugMug Pro subscription. Additionally, ten deserving recipients will receive a one-year Flickr Pro membership and a one-year SmugMug Pro subscription.

Scott Kinzie, VP of Marketing at Awesome, parent company of Flickr and SmugMug, expressed his enthusiasm for this partnership, stating, “We are thrilled once again to support Black Women Photographers. Their mission to provide a platform for Black women and non-binary photographers aligns with our core values, and we believe it’s essential to ensure those stories and perspectives are shared with the world. We’re honored to support them in ways that will help enhance their reach, amplify their impact, and further their mission.”

A panel of judges for the grant has been assembled, featuring notable figures such as Polly Irungu, the founder of BWP; Edwina Hay, an esteemed member of both BWP and Flickr since 2004; MacKenzie Joslin from the Flickr Community team; Alastair Jolly, SmugMug’s Senior Global Brand Manager & Head of Ambassador Relations; and Frederick Van Johnson from This Week in Photo.

“Community is core to the work and identity of BWP, so I’m honored to partner with a brand that has been fostering that from day one,” says Irungu. “Flickr has poured back into their community countless times, and I am excited for them to pour into the BWP community with this grant opportunity.”

How To Apply 

To be eligible for the grant, applicants must meet the following criteria:

Applications for this grant will close on October 6th, 2023. We urge all eligible individuals to apply and share this incredible opportunity within their networks before the deadline.

About Black Women Photographers

Founded by Polly Irungu and launched in July of 2020, Black Women Photographers (BWP) is a global community, directory, and hub of over 1,500 Black women and non-binary identifying photographers, spanning over 60 countries and 35+ U.S. states. Black Women Photographers is a home for Black women to receive proper recognition and, most importantly, get hired. BWP supports its members through promoting their work in an active database distributed to photo editors, directors, curators, and art buyers.

About Flickr

Flick, founded in 2004, is the world’s largest photography community, committed to elevating the memories, artistry, and impact of all your photos. Fueled by passionate photographers for nearly 20 years, Flickr provides users with the safest and most inclusive platform for sharing and connecting through photos and videos. Since its acquisition by SmugMug in 2018, these united brands have created the most influential photography-focused community globally. Both brands are dedicated to continually thrilling their customers and delivering awesome as part of their evergreen mission as a company.

SOURCE Flickr

AI-based testing company Testaify, Inc. secures $650k in pre-seed funding,
positioned for a breakthrough in the software testing process.

MIAMI, Sept. 7, 2023 — Testaify, Inc., an innovative AI-driven software testing platform, is proud to announce the successful closure of its pre-seed funding round, surpassing its initial goal by 30%. The company has raised an impressive $650,000 in investments, marking a significant milestone on its journey to transform software testing forever.

Led by a team of seasoned technology leaders with decades of experience managing significant development and testing teams, Testaify’s mission is to enable software companies to develop high-quality software by solving the fundamental issue with software testing: poorly designed tests. “AI gives us the power to model the product, design test cases, generate test scripts, and execute tests in a fraction of the time, freeing developers to build features,” says founder Rafael E. Santos. He explains, “Because our AI offering intrinsically understands all of the testing methodologies, companies will achieve their quality testing goals while releasing better software more quickly.”

The company’s recent funding success coincides with its establishment in Miami, Florida, a tech hub known for innovation and technological advancements. The raised capital enables strategic hires in marketing and AI/machine learning.

Mr. Santos says, “Our pre-seed round achievement is a testament to our investors’ enthusiasm and commitment to Testaify’s potential to disrupt the software testing landscape. As technology leaders, we want more than incremental software quality improvement as the ROI for significant investment in tools and people. The status quo hires more testers who need expensive tools to be productive. Testaify sells testing, not people, and requires no additional tooling.” He adds, “We are thrilled, humbled, and grateful to have secured this funding which will drive the development of our product and bring us one step closer to realizing our vision.”

Testaify is poised to make a significant impact in the software development industry. The company’s innovative approach, combined with its successful pre-seed funding round and strategic positioning, underscores Testaify’s potential to reshape the future of software testing. Interested parties may join the Testaify waitlist by visiting www.testaify.com/contact.

About Testaify, Inc.: Testaify is an AI-based testing platform that delivers faster, more accurate, less labor-intensive comprehensive testing – no additional tools or documentation required! Led by seasoned technology leaders, Testaify enables software development companies to measurably improve product quality. With a strategic presence in Miami, Florida, and an expert team of AI professionals, Testaify is at the forefront of software testing innovation. Our mission is to fix testing forever because end users deserve high-quality software. Learn more at www.testaify.com.

For media inquiries or further information, please contact:
Lisa Fatolitis, Director of Marketing, [email protected], 727-698-8770

SOURCE Testaify, Inc.

NEW YORK , Sept. 7, 2023 — Younite-AI, a frontrunner in AI and XR software solutions, is thrilled to announce the successful completion of a substantial round of private equity financing from Bocap. This collaboration sets the stage for accelerated growth and the development of state-of-the-art AI and XR technologies, solidifying Younite-AI’s standing at the AI and XR forefront.

This infusion of capital is a reflection of Younite-AI’s track record of successful initiatives and an essential leap towards their ambition: reshaping industries like automotive, among others, by tapping into the transformative power of AI and XR. Their sophisticated software offerings furnish businesses with intelligent experiences that amplify decision-making, boost efficiency, and revolutionize operational methodologies.

Afa Heikkinen, CEO of Younite-AI, expressed appreciation for Bocap’s support. “We are thrilled to welcome Bocap as our strategic partner. Their deep expertise and dedication to innovation resonate strongly with our future vision. This investment will significantly help to fuel positive momentum behind a unique offering and boost our growth, particularly in our primary market, the United States.”

Julianna Borsos, Founding partner and Chair of Bocap, echoed their enthusiasm, “Younite-AI is at the forefront of the AI and XR revolution, and we are thrilled to be a part of their growth story. We believe in their potential to transform industries through innovative technologies, and we’re eager to back their ongoing expansion and drive for market dominance.”

Younite-AI is a creative technology company focused on building the next generation of AI & XR-based digital products and systems. Our talented team combines expertise in design, development, AI, 3D technologies and creative thinking to solve business problems, crafting solutions that generate immediate, and ever-increasing ROI. With offices in New York and Helsinki, our track record of success and unwavering commitment to quality make us a trusted global partner for businesses seeking transformative software solutions that save costs, drive growth, and enhance the digital experiences of our clients and their customers.

Website: https://younite-ai.com/
Locations: New York, Helsinki, Oulu

SOURCE Younite-AI

NEW YORK, Sept. 7, 2023 — Today, Ampla, a leading provider of financial solutions for consumer brands, announced the raise of a $258m credit warehouse with Goldman Sachs and Atalaya Capital Management. The new debt facility provides incremental financing to power Ampla’s Growth Capital products and allows the company to continue building the all-in-one platform for Consumer Brands.

“The landscape for consumer brands has changed dramatically over the last several years, and Ampla has evolved in tandem to continue to meet these customers’ unique needs,” said Anthony Santomo, CEO and co-founder of Ampla. “Despite macro challenges, modern consumer brands have proved their resilience by leveraging technology to adjust quickly and Ampla has been alongside them every step of the way,”

“Our platform today marries flexible capital terms with best-in-class digital banking and corporate card products that make us the preeminent solution for consumer brands looking to free up cash flow, make their money work harder for them, and fuel growth.”

The deal comes at a time when Ampla is evolving its product offering to encompass a full suite of financial tools, including Growth Capital, Digital Banking, Insights, and its new Visa Corporate Card. Ampla recently reached major milestones, surpassing over $1.5B in originations, and processing a run-rate of $6.0B in transactions through its platform.

“Atalaya is excited to help Ampla in their mission to bring a full-suite, customer-focused experience to Consumer Brands seeking capital, banking, and card solutions for their day-to-day needs. This new capital will allow Ampla to further enhance its position as a market leader across the Consumer Brand ecosystem and we are proud to add our unique structuring expertise,” said Brian Moore, a Principal at Atalaya.

The company plans to continue launching complimentary products that will streamline operations for consumer brands. By introducing new products at strategic stages of a business’s life cycle, Ampla is improving the likelihood of success for consumer brands. Hundreds of rapidly growing brands including Carbone Fine Foods, CUTS, and Serenity Kids use Ampla’s platform to power their business.

About Ampla:
Ampla powers commerce across the consumer brand ecosystem. Ampla’s all-in-one financial platform built for omnichannel consumer brands offers embedded banking, bill pay, analytics, growth capital, and corporate card solutions. Founded in 2019, Ampla is based in NYC and backed by leading investors such as VMG, Forerunner, M13, Infinity Ventures, and Core Innovation Capital. Ampla raised a $60 million series A round in December 2021.

About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered, alternative asset manager. Atalaya primarily focuses on making private credit and special situation investments in three principal asset classes—specialty finance, real estate, and corporate. Founded in 2006, Atalaya is headquartered in New York City and has more than $10 billion in assets under management, and has deployed over $17 billion across 600+ investments.

SOURCE Ampla

Vaulted Deep launches with a major carbon removal purchase facilitated by leading advanced market commitment Frontier.

HOUSTON, Sept. 7, 2023 — Advantek Waste Management Services, a pioneer in the science of deep injection wells, announced today the launch of Vaulted Deep (“Vaulted”), a stand-alone biomass carbon removal and storage (BiCRs) carbon removal (CDR) company. Carbon removal is an essential part of managing global emissions and reaching net zero targets. With the market finally evolving for carbon removal and demand increasing for proven and measurable CDR solutions, Vaulted Deep will provide high-quality, lower-cost carbon removal for entities participating in the voluntary carbon market to offset their unavoidable emissions.

Vaulted intercepts sludgy organic wastes – like biosolids, agricultural & livestock waste, paper sludge, and others– before they are dumped in a landfill or waterway or are left on land to decompose and pollute the air or water. Carbon sequestration from this wide range of organic wastes provides substantial co-benefits: it eliminates significant methane emissions (which Vaulted does not include in its credit accounting); it reduces water-borne illness and prevents pollution that disproportionately affects marginalized communities.

A recent study from Louisiana State University estimated organic waste produces five gigatons of carbon dioxide per year, or roughly half of the tonnage required to meet global net zero emissions. Vaulted’s exclusive use of Advantek’s patented deep well slurry injection technology, initially developed to remediate legacy waste deposits from oil and gas developments, will sequester the tons of carbon trapped in these organic wastes deep in the earth.

“Across the market, there has been a ‘flight to quality’ as buyers increasingly value real, measurable carbon credits,” said Vaulted CEO Julia Reichelstein. “By leveraging a decades-proven technology that can permanently store carbon, Vaulted’s CDR can serve as the Net in Net Zero.”

Increasingly, emissions avoidance and reduction credits, which currently comprise 95 percent of the market, are coming under scrutiny for their low quality. The Science Based Targets Initiative (SBTI) has declared that only carbon removal (not avoidance or reduction) is valid for companies to utilize as offsets to achieve their Net Zero or other climate goals.

Catalyzed by $8 million in seed funding, led by major carbon removal fund Lowercarbon Capital, Vaulted is launching with a significant amount of its 2023 capacity going to pre-purchases facilitated by Frontier, an advance market commitment for carbon removal.

“Vaulted is literally cleaning up the planet, scaling field-proven injection terminology to safely dispose of harmful wastes like biosolids while permanently storing away millions of tons of CO2,” said Ryan Orbuch, Partner at Lowercarbon Capital.

While injection sequestration sites often take years to permit and become operational, Vaulted is emerging with two operational, permitted injection sites.

Unlike its competitors, Vaulted’s ability to take a range of wastes with minimal upstream processing reduces overall long-term costs for carbon removal, unlocking a dramatically lower cost point. Other high-quality, permanent carbon removal available on the market today cost over $500 per ton. Vaulted offers carbon removal for $300 per ton and expects price to come down significantly before 2030. 

Advantek founder Omar Abou-Sayed will transition from CEO to Chairman of Advantek and will lead Vaulted as Executive Chairman, with CEO Julia Reichelstein, former investor at climate tech venture capital fund Piva Capital.

Abou-Sayed said the new company will be able to remove much more carbon dioxide than its contemporaries. “Unlike many carbon removal technologies still in R&D, Vaulted’s technology and sites can safely and permanently store carbon underground, at scale, today. The early removals we will deliver are pivotal to keeping the window open to hold our planet’s warming below 1.5 degrees Celsius.”

About Vaulted Deep
Vaulted Deep is a biomass carbon removal and storage (BiCRs) carbon removal company dedicated to the geologic sequestration of organic wastes. Vaulted Deep’s mission is to utilize the proven and patented geologic slurry injection technology for permanent carbon dioxide removal (CDR) through the sequestration of organic wastes, thereby accelerating the earth’s natural process and contributing significantly to the global fight against climate change. Vaulted Deep is backed by Advantek and Lowercarbon Capital, Earthshot Ventures, and others. To learn more, go to www.vaulteddeep.com. 

About Advantek Waste Management Services
Advantek Waste Management Services (Advantek) is an industrial waste management company, building a cleaner more sustainable world by using injection wells to minimize the impacts from human activities on our land, air, water, and climate through better management of complex and liquid wastes. Advantek and its predecessor entities have made pioneering advancements in the field of slurry injection. Advantek operates globally and is headquartered in Houston, Texas. For more information: www.advantekwms.com. 

SOURCE Advantek; Vaulted

Strengthens Existing Strategic Learning Partnership with InnoEnergy Skills Institute

ATLANTA, Sept. 7, 2023 — NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] announced that it has made a strategic investment in the private placement round of KIC InnoEnergy, SE (EIT InnoEnergy) – EIT InnoEnergy secures over €140 million in private placement round. With this investment, NIIT MTS joins the cap table as one of the new strategic investors in the private placement round that includes major players from industrial, financial, training, and digital sectors to accelerate the clean energy industrial innovation.

Earlier this year, EIT InnoEnergy had selected NIIT MTS as a strategic partner of the EIT InnoEnergy Skills Institute. The strategic investment reinforces NIIT’s commitment to the strategic learning partnership with the EIT InnoEnergy Skills Institute. The investment bolsters NIIT MTS’ core goal of developing the human capital and skills to enable decarbonization and make a meaningful contribution to the rapid transition to Green Energy.

EIT InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union (EU). EIT InnoEnergy operates at the center of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate the energy transition and progress towards global decarbonization efforts.

EIT InnoEnergy is ranked as Europe’s top impact investor in cleantech in 2022, named in 2023 as a top 10 active deep tech investor by Sifted, and is recognized globally as the most active sustainable energy investor. EIT InnoEnergy backs innovations across a range of areas including energy storage, transport and mobility, renewables and sustainable buildings and cities – leveraging its trusted ecosystem of partners and shareholders.

This partnership capitalizes on NIIT’s global reach and robust infrastructure, enabling the rapid deployment of services and accelerating training initiatives across Europe, Asia, and North America. NIIT will also spearhead the go-to-market program, expanding the offering to a diverse range of industries and companies across the global green energy value chain. Additionally, NIIT will establish and manage a network of local training partners in multiple countries, further expediting adoption and impact.

The transition to net zero presents the century’s most significant opportunity, triggering an unprecedented demand for talent and skills worldwide. To realize this ambitious goal, up to 18 million workers will require retraining globally. For instance, the number of solar PV jobs is projected to quadruple between 2015 and 2030. This strategic investment strengthens the partnership between EIT InnoEnergy and NIIT, providing opportunities for close collaboration in addressing the challenges and seizing the immense potential of decarbonization.

“New strategic players have joined InnoEnergy’s outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our on-going impact”, said Diego Pavia, CEO of InnoEnergy.

InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate €110 billion in revenue and save 2.1G tons of CO2e accumulatively by 2030.

“As the world accelerates decarbonization initiatives, NIIT MTS has a two-fold commitment to the green energy transition as a strategic partner of EIT InnoEnergy. On the one hand, we are excited to be the strategic learning services partner of the InnoEnergy Skills Institute to help rapidly scale and create the highly skilled and certified human capital essential for the rapid transition to Green Energy. On the other, we believe that EIT InnoEnergy is poised to be the green transition thought leader and partner of choice for corporations and governments globally,” said, Sailesh Lalla, Chief Business Officer at NIIT MTS.

“This is why we have strategically invested in EIT InnoEnergy as a shareholder to reinforce our commitment to the partnership. This partnership will also help us make a meaningful contribution to decarbonization while leveraging our core strength of developing the human capital and skills to meet the needs of the fourth industrial revolution globally. We are looking forward to a long and successful collaboration with EIT InnoEnergy and the InnoEnergy Skills Institute,” he added.

About NIIT Learning Systems Limited
NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] offers Managed Training Services to market-leading companies across 30 countries. Trusted by the world’s leading companies, NIIT MTS provides high-impact managed learning solutions that weave together the best of learning theory, technology, operations, and services to enable a thriving workforce. The NIIT MTS comprehensive suite of Managed Training Services includes Custom Content and Curriculum Design, Learning Delivery, Learning Administration, Strategic Sourcing, Learning Technology, and L&D consulting services. With a Net Promoter Score of 9 on 10 and a 100% renewal rate, NIIT MTS helps leading companies transform their learning ecosystems while increasing the business value and impact of learning. www.niitmts.com

SOURCE NIIT