NEW YORK, 6 augustus 2025 — Stavtar Solutions, een toonaangevende leverancier van SaaS voor bedrijfsuitgavenbeheer en onkostentoewijzing voor complexe bedrijven zoals alternatieve vermogensbeheerders, maakte vandaag een Serie A-investering van $55 miljoen van Elephant bekend. Deze minderheidsinvestering zal de volgende uitbreidingsfase van het platform voeden, dat een revolutie heeft teweeggebracht in de manier waarop complexe bedrijven hun bedrijfsuitgaven, onkostentoewijzingen, leveranciers, contracten, budgetten, betalingen en dergelijke meer beheren. Het zal de voortdurende productinnovatie en uitbreiding van geïntegreerde betalingsmogelijkheden binnen StavPay, het vlaggenschipproduct van het bedrijf, stimuleren, evenals het aanwerven van nieuwe medewerkers om aan de snel toenemende vraag te voldoen.

Stavtar werd gezamenlijk door Steven Petersen en Avtar Batth opgericht, respectievelijk voormalig CFO en CTO, om een probleem op te lossen dat zij zelf hebben ervaren: de overweldigende afhankelijkheid van handmatige processen en spreadsheets om bedrijfsuitgaven en onkostentoewijzingen in alternatief vermogensbeheer te beheren. Na jarenlang schipperen tussen operationele knelpunten en gefragmenteerde systemen, stelden ze zich tot doel een modern, aanpasbaar platform aangestuurd door gegevens tot stand te brengen dat specifiek ontworpen is voor de behoeften van financiële en operationele teams bij hedgefondsen, private equity, family offices en andere complexe bedrijven. De afgelopen drie jaar is Stavtar met meer dan 1300% gegroeid en is nu het favoriete platform van meer dan 100 alternatieve vermogensbeheerders met een beheerd vermogen van $ 2,4 miljard. Het StavPay-platform maakt geautomatiseerde workflows mogelijk voor het beheer van leveranciers, contracten en facturen, de toewijzing van onkosten, betalingen aan derden, budgetten, belastingaangiften, aangepaste rapportering en nog veel meer. Het verandert het hele proces van hun klanten in goedkeuren of afwijzen, terwijl het hen in realtime inzicht geeft in hun activiteiten, iets wat voordien ondenkbaar was.

“We hebben Stavtar gebouwd als oplossing voor iets wat we niet konden negeren: voorbijgestreefde, handmatige, losgekoppelde financiële workflows die goed presterende teams stokken in de wielen staken,” verklaart Steven Petersen, medeoprichter van Stavtar. “Ons partnerschap met Elephant stelt ons in staat om ons te richten op wat het belangrijkst is: onze klanten innovatieve oplossingen van bedrijfsniveau aanbieden. We zijn enthousiast om sneller te groeien, verder te gaan en de grenzen te blijven verleggen van wat in software voor complexe bedrijven mogelijk is.”

“We hebben Stavtar ontwikkeld om de echte pijnpunten van complexe bedrijven aan te pakken,” aldus Avtar Batth, medeoprichter van Stavtar. “Deze investering stelt ons in staat om de ontwikkeling te versnellen van een schaalbaar, intelligent systeem dat specifiek is ontworpen voor de financiële en operationele realiteit van alternatieve vermogensbeheerders en andere geavanceerde ondernemingen.”

Dankzij deze mijlpaal kan Stavtar voortaan:

• Innovatie stimuleren in de hele portfolio van oplossingen.
• De engineering-, implementatie-, klantensucces- en verkoopteams uitbreiden. 
• Het geïntegreerde betalingsplatform verder ontwikkelen, met inbegrip van mogelijkheden voor betalingen met virtuele kaarten en betalingen aan leveranciers.
• AI en mobiele capaciteiten verdiepen om controle over bedrijfsuitgaven en inzichten rechtstreeks in handen te leggen van CEO’s, CFO’s en financiële teams. 
• De aanwezigheid uitbreiden naar sectoren die grenzen aan alternatief vermogensbeheer en andere vergelijkbare complexe activiteiten.

Peter Fallon, Partner van Elephant, zal tot de raad van bestuur van Stavtar toetreden. “Steve en Avtar hebben een toonaangevend platform gebouwd dat een oplossing biedt voor de complexe, hoogwaardige uitdagingen waarmee enkele van de meest veeleisende financiële bedrijven worden geconfronteerd,” aldus Fallon. “We vinden het geweldig om de visie van Stavtar te steunen en te helpen hun impact te vergroten door verdere marktgroei.”

Met kantoren in New York, Dallas, Londen, Mumbai en Bengaluru komt Stavtar doelgericht op schaal en geeft het financiële teams de tools die ze nodig hebben om handmatig werk te elimineren, operationele risico’s te verminderen, de productiviteit te vergroten en sneller te werken.

Over Stavtar

Stavtar is de belangrijkste leverancier van SaaS-oplossingen voor bedrijfsuitgavenbeheer en onkostentoewijzing, speciaal ontwikkeld voor het kantoor van de CFO in complexe bedrijfsactiviteiten zoals alternatief vermogensbeheer. Het hoofdkantoor van Stavtar is in New York gevestigd. Het bedrijf is wereldwijd actief in Dallas, Londen, Mumbai en Bengaluru. Stavtar is door doorwinterde professionals uit de alternatieve vermogensbeheersector opgericht.

Ons vlaggenschipplatform voor bedrijfsuitgavenbeheer en onkostentoewijzing, StavPay, staat ten dienste van meer dan 100 toonaangevende alternatieve vermogensbeheerders, die samen meer dan $2,4 biljoen aan AUM beheren. 

Meer informatie: www.stavtar.com. 

Over Elephant 

Elephant is een durfkapitaalbedrijf dat zich richt op bedrijfssoftware, internet voor consumenten en mobiele markten.

Logo – https://mma.prnewswire.com/media/2736907/Stavtar_2025_Logo_PNG_Logo.jpg 

Spurs Investment in Communities Across Country

WASHINGTON, Aug. 6, 2025 — The Community Development Bankers Association (CDBA) and National Bankers Association (NBA) today announced that the Advancing Communities Together^® (ACT^®) Deposit Program has reached $100 million. This innovative initiative, launched by both groups in summer 2024, channels vital funding to banks serving low-income and minority communities while also making all deposits eligible for FDIC insurance at network banks.

The two national associations also released the program’s first annual report, which illustrates the broad, transformative impact the ACT Deposit Program is making in communities from California to Mississippi to New York.

“The ACT Deposit Program allows us to expand access to capital for historically underserved individuals and small businesses—fueling economic growth where it’s needed most,” said Todd O. McDonald, NBA’s chairman and the president of Liberty Bank and Trust. “This program is a powerful example of how corporate deposits can be both mission aligned and market smart. We encourage other corporations to join us in meaningful, community-focused investment.”

“Deposits are an essential source of funding for mission-focused banks like ours, and often the communities where we are looking to make an impact lack them,” said Carlos Naudon, CDBA’s chairman and the chief executive officer of Ponce Bank. “The ACT Deposit Program is part of the solution to that imbalance and helps us support the affordable-housing development and small business lending that are transforming our communities.”

The program, launched with significant investments from four major financial firms, continues to draw broad support from the banking industry and has significantly expanded its depositor base, attracting funds from businesses and nonprofits.

Key Benefits of the Program

The ACT Deposit Program simplifies how large depositors place funds at a community development financial institution (CDFI) or minority depository institution (MDI). Deposits made through the program can be placed with more than 80 participating CDFIs and MDIs, extending the reach of each deposit to communities across the country.

Participating depositors can choose a CDFI or MDI as their relationship bank, with part of the deposit being allocated to the other banks participating in the program. This ensures benefits are shared across all banks in the program and all deposits are eligible for FDIC insurance.

The program is powered by IntraFi through its ICS service, which is used by thousands of banks nationwide. The service offers depositors access to millions of dollars in aggregate FDIC insurance across IntraFi network banks.

For more information about the ACT Deposit Program, and a list of its participating banks, please visit the program’s website.

IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Deposit placement in the ACT Deposit Program within ICS is subject to the terms, conditions, and disclosures in the applicable agreements, including the ACT Addendum to the Deposit Placement Agreement. A portion of a deposit placed in the Program may be allocated to IntraFi network banks that are not community development financial institutions or minority depository institutions.

About CDBA

For over two decades, the Community Development Bankers Association has led the community development banking movement, advocating for financial inclusion, racial equity, and economic opportunities in the nation’s most economically distressed areas. The CDBA and its member banks are located in 26 states and Washington, DC, and are unwavering in their commitment to making banking a force for good. For more information on the CDBA’s mission and initiatives, please visit www.cdbanks.org.

About NBA
Founded in 1927, the National Bankers Association champions minority depository institutions, advocating for mission-driven banks that serve underserved and low- to-moderate-income communities. Representing community banks across 43 states and territories, NBA promotes economic empowerment, capital access, and financial inclusion. Learn more at www.nationalbankers.org.

About IntraFi
IntraFi was founded more than two decades ago to serve and support banks of all sizes. Composed of nearly 70% of the nation’s banks, IntraFi’s network is the largest of its kind and enables institutions across the United States to better serve their customers, fund more loans, and seamlessly manage their liquidity needs. IntraFi invented reciprocal deposits and is the #1 provider of deposit placement solutions, offering network participants the highest per-depositor and per-bank capacity and the peace of mind of being able to make large-dollar placements. To learn more, visit www.intrafi.com.

SOURCE Community Development Bankers Association (CDBA) and National Bankers Association (NBA)

QED Investors leads round, joined by Blackbird, Square Peg, Airtree and founders of Airwallex and Canva, as Lorikeet sees 10x growth and a product performance that sets it apart from competitors

SYDNEY, Aug. 6, 2025 — Lorikeet, the company that helps businesses create universal AI concierges for their customers, today announced it has raised $35 million USD in Series A funding to accelerate product development and go-to-market efforts. The round was led by QED Investors, the world’s leading fintech VC fund, with participation from Blackbird, Square Peg, Skip Capital, Capital49, Operator Partners, Airtree, and Athletic Ventures.

Since its public launch in October, Lorikeet has grown revenue 10x, solving exponentially more customer conversations month over month. The company already counts several unicorns among its customers across the United States, Europe, and Australia, including Airwallex, Linktree, Flex, Eucalyptus, and more. Lorikeet has now raised over $50 million in funding to date.

At the core of Lorikeet’s growth is its breakthrough product strategy: building true customer concierges that go far beyond traditional support bots. Unlike legacy chatbots or so-called “AI agents” from Silicon Valley darlings like Decagon, Sierra, and Intercom, Lorikeet’s concierges don’t just answer questions—they make judgment calls and take action to solve problems across chat, email, and voice.

“Even if they’re wrapped up in ‘AI agent’ buzzwords, chatbots that recite self-serve FAQ steps are fundamentally unable to solve the types of issues customers have in the real world,” said Steve Hind, co-founder and CEO of Lorikeet. “Customers don’t want to be told how to fix their problems. They want a concierge that actually solves them. That’s what we’ve focused on from day one.”

While competitors focused on chatbots that pick the low-hanging fruit, one of Lorikeet’s first deployments was end-to-end handling of lost, stolen, and missing debit cards—with its AI concierge determining eligibility, updating the customer’s address, and dispatching a replacement card without human intervention.

That ability to actually do it hinges on Lorikeet’s unique approach to AI safety and operational guardrails. Rather than giving the AI open access to risky actions like canceling customer accounts, Lorikeet uses granular permissions and dynamic gating to enforce safe, auditable execution.

“While others were picking the low-hanging fruit, we built a ladder,” Hind explained. “We decided from the start that we didn’t want to focus on FAQ summaries. We focused on working with companies in highly regulated sectors like financial services, healthcare, and energy in order to challenge ourselves to build a system able to take high-consequence actions in the toughest environments.”

The funding marks a milestone for the Australian startup ecosystem. Lorikeet is the first company since Canva to receive early-stage backing from all three of Australia’s top VCs—Blackbird, Square Peg, and Airtree—alongside an international syndicate led by QED Investors.

“As fintech specialists for more than a decade, we are keenly aware of the unique challenges fintechs and financial services companies face in customer experience,” said Victoria Zuo, Principal at QED Investors. “Complex industries need unique solutions, and the AI revolution continues to reduce costs and improve customer experience. While others are building chatbots that push customers toward self-service, Lorikeet has cracked the code on AI that actually resolves issues end to end. Their approach to safe, controlled automation in financial services and other complex industries is exactly what the market needs, and their early traction with leading fintechs validates the massive opportunity ahead.

“With new capital in hand and a clear product advantage, Lorikeet plans to double down on R&D and global go-to-market efforts in the second half of 2025.

About Lorikeet
Lorikeet builds AI-powered customer concierges that solve real problems, not just answer questions. Designed for companies that want to move beyond scripts and self-serve flows, Lorikeet’s omnichannel concierges can make decisions, take actions, and resolve complex customer issues across chat, email, and voice. Founded in Australia and backed by top global investors including QED Investors, Blackbird, Square Peg, and Airtree, Lorikeet is redefining what’s possible in customer support. Learn more at lorikeetcx.ai.

SOURCE Lorikeet

Airline’s corporate venture capital fund – United Airlines Ventures (UAV) – facilitates new relationship that leverages Dfinitiv’s proprietary technology for potential MileagePlus and Kinective Media applications

CHICAGO, Aug. 6, 2025 — United Airlines Ventures (UAV), United Airlines’ corporate venture capital fund dedicated to the future of air travel, today announced a strategic relationship with Dfinitiv Inc., an innovative technology company developing next-generation infrastructure for loyalty commerce and media integration. 

The airline is exploring potential use cases for Dfinitiv’s technology across its MileagePlus and Kinective Media platforms. 

Dfinitiv’s SmartCXP™ is an innovative Commerce Experience Platform that combines customer-focused personalization, intelligent loyalty offers and content aggregation, and SmartLink™ — a proprietary deep-linking engine that connects user context and intent to optimized in-app, web, and on-screen experiences. SmartCXP™ enables brands to provide personalized, shoppable content and offers throughout the customer journey, empowering loyalty members to engage in everyday commerce and seamlessly earn and redeem loyalty points. 

“We’re proud to support United Airlines and United Airlines Ventures as they explore new technologies to elevate customer engagement — not just in travel, but across the broader loyalty ecosystem,” said Joseph Fitzgerald, CEO and co-founder of Dfinitiv. “SmartCXP™ is built to deliver the personalization, flexibility, and scale needed to turn loyalty into a connected, everyday engagement platform.” 

“United Airlines Ventures values innovative companies that can enhance the customer travel experience and help airlines unlock new opportunities for growth,” said Andrew Chang, Head of United Airlines Ventures. “We look for differentiated technologies, thoughtful user experience design, and strong management teams that can scale. We believe Dfinitiv checks every box — and the versatility of their platform across multiple industries, including loyalty programs like MileagePlus, financial services, connected media platforms like Kinective Media, and travel only enhances potential revenue streams.” 

Dfinitiv’s technology is built for cross-industry applicability — enabling travel companies, financial institutions, hospitality brands, credit card issuers, and other non-retail enterprises to better engage their large loyalty audiences and unlock customer touchpoints. United Airlines Ventures recognizes Dfinitiv’s broad potential in sectors where commerce media networks are emerging as a powerful new digital revenue model. 

About United Airlines Ventures  
United Airlines Ventures (UAV) was established in 2021 to invest in early-stage start-up companies focused on innovative technologies with the potential to shape the future of aviation and travel. To date, UAV has made more than 30 investments in companies developing technologies across aerospace, technology, energy transition, and more. 

About Dfinitiv 
Dfinitiv is a commerce technology company purpose-built to power loyalty-led commerce media networks. Its SmartCXP™ platform unifies affiliate offers, curated content, branded experiences, and customer-focused personalization across mobile and digital channels. Headquartered in Englewood, NJ, Dfinitiv empowers leading loyalty, travel, and financial services organizations to unlock new engagement models and revenue streams. Learn more at www.dfinitiv.io. 

Forward-Looking Statements and Other Important Information 
UAV is a wholly owned subsidiary of United Airlines, Inc., whose parent company, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol “UAL”. This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, plans and projections regarding the benefits of the strategic relationship. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations, estimates, forecasts and projections, which involve inherent risks, assumptions and uncertainties that are difficult to predict, may be beyond our control and could cause our future financial results, plans, objectives, goals, targets, commitments, strategies, initiatives and intentions to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, any delay or inability of United or UAV to realize the expected benefits of the strategic relationship, including from a delay or failure of any project or technology to be fully developed or serve the purpose for which it was designed; unexpected costs, charges or expenses resulting from the strategic relationship; and the other risks and uncertainties identified in UAL’s Annual Report on Form 10-K for the year ended December 31, 2024 as well as UAL’s other filings with the Securities and Exchange Commission.  United and UAV undertake no obligation to update any statement included in this press release, except as otherwise required by applicable law or regulation. 

Media Contacts: 
United Airlines Ventures 
[email protected] | (872) 825-8640 
Dfinitiv Media Relations 
[email protected] 

SOURCE United Airlines Ventures

HONG KONG, Aug. 6, 2025 — Bayes Labs team announces that Bayes Market, the prediction platform launched in July pioneering the next wave of decentralized information infrastructure, has secured $2 million strategic investment from a group of investors. The investors include institutional participation from Singapore’s GreenVision Fund, Jkapital Ltd., and Bearcat, alongside a prominent U.S. public company chairman. This diverse investor group shares a unified conviction: prediction markets represent a transformational shift in how society generates, exchanges, and values information.

These funds will accelerate Bayes Market’s product development, regional expansion, and user growth—particularly across Asia, where social and cultural dynamics align naturally with prediction markets. According to the CEO of GreenVision, “Prediction markets are not just a trend—they are the future of how societies find a shared-reality in complex world. Bayes team has the right vision to scale this movement.”

Mass Adoption Underway

The year 2025 marks a turning point for the prediction market industry. Polymarket’s integration with X and Kalshi’s $2B valuation signal that the industry is moving towards the mainstream. As trust in centralized narratives erode, prediction markets offer a credible, participatory alternative—surfacing diverse viewpoints and aligning incentives for individual expression.

Prediction markets were never by nature solely for crypto-native users. Human beings are inherently driven to predict. Whether guessing the outcome of a reality show or speculating on political developments, people engage in informal forecasting daily. Prediction markets formalize this instinct, offering structure, visibility, and rewards. They are not tools for speculators alone—they are an evolution of how people interact with real-world uncertainty.

Bayes Market distinguishes itself by focusing on intuitive design, culturally relevant markets across Asia and a strong emphasis on user empowerment. These features enable a familiar, social, and gamified experience—they are social signals embedded in daily life. 

A New Intelligence Infrastructure for a Decentralized Future

As demand grows for open, transparent, and decentralized systems, prediction markets are poised to become a core infrastructure of the information economy. Bayes Market is not just building a product—it is building a public good: a participatory framework for decentralized intelligence. 

In an age defined by uncertainty, Bayes Market innovates prediction markets holding the belief that they are not an anomaly of crypto—they are the natural evolution of how society as a whole engages with the future.

SOURCE Bayes Labs

NEW YORK, Aug. 6, 2025 — Stavtar Solutions, a leading provider of business spend management and expense allocation SaaS for complex businesses such as alternative asset managers, today announced a Series A investment of $55 million from Elephant. The minority investment will fuel the next phase of expansion for the platform that has revolutionized how complex businesses are managing their business spend, expense allocations, vendors, contracts, budgets, payments, and more. It will drive continued product innovation, expansion of integrated payment capabilities within its flagship product StavPay, as well as hiring to meet rapidly increasing demand.

Co-founded by Steven Petersen and Avtar Batth, a former CFO and CTO respectively, Stavtar was created to solve a problem they lived firsthand: the overwhelming reliance on manual processes and spreadsheets to manage business spend and expense allocations within alternative asset management. With years of navigating operational bottlenecks and fragmented systems, they set out to build a modern, customizable, data-driven platform designed specifically for the needs of finance and operations teams at hedge funds, private equity, family offices, and other complex businesses. Stavtar has grown over 1300% in the past three years and is now the platform of choice for more than 100 alternative asset managers overseeing $2.4 Trillion in AUM. The StavPay platform powers automated workflows for vendor, contract and invoice management, expense allocations, third party payments, budgets, tax filings, custom reporting, and more. It turns their clients’ entire process into approve or reject, while giving them insights into their business like never before, in real time.

“We built Stavtar to fix what we could not ignore – outdated, manual, disconnected financial workflows holding back high-performing teams,” said Steven Petersen, Co-Founder of Stavtar. “Our partnership with Elephant empowers us to focus on what matters most – delivering innovative, enterprise-grade solutions to our clients. We are excited to grow faster, go further, and continue pushing the boundaries of what is possible in software for complex businesses.”

“We engineered Stavtar to address the real pain points faced by complex businesses,” said Avtar Batth, Co-Founder of Stavtar. “This investment enables us to accelerate the development of a scalable, intelligent system designed specifically for the financial and operational realities of alternative asset managers and other sophisticated enterprises.”

This milestone empowers Stavtar to:

• Drive innovation across its portfolio of solutions.
• Grow the engineering, implementation, customer success, and sales teams. 
• Advance its integrated payments platform, including virtual card and vendor payment capabilities.
• Deepen AI and mobile capabilities to put business spend control and insights directly in the hands of CEOs, CFOs, and finance teams. 
• Expand footprint into verticals adjacent to alternative asset management and other similarly complex businesses.

Peter Fallon, Partner at Elephant, will join Stavtar’s board of directors. “Steve and Avtar have built a category-defining platform that solves the complex, high-value challenges confronting some of the most discerning firms in finance,” said Fallon. “We are thrilled to support Stavtar’s vision and help scale its impact through continued market growth.”

With offices in New York, Dallas, London, Mumbai, and Bengaluru, Stavtar is scaling with focus, giving finance teams the tools they need to eliminate manual work, reduce operational risk, increase productivity, and move faster.

About Stavtar

Stavtar is the premier provider of business spend management and expense allocation SaaS solutions built for the Office of the CFO in complex businesses like alternative asset management. Headquartered in New York, with a global footprint spanning Dallas, London, Mumbai, and Bengaluru, Stavtar was founded by seasoned professionals from the alternative asset management industry.

Our flagship business spend management and expense allocation platform, StavPay, empowers over 100 leading alternative asset managers, collectively overseeing more than $2.4 trillion in AUM. 

To learn more, visit www.stavtar.com. 

About Elephant

Elephant is a venture capital firm focused on the enterprise software, consumer internet, and mobile markets.

SOURCE Stavtar

The Pre-Series A Funding Marks Transition from Breakthrough Research to Prototyping, Validates LENR as a Scalable Clean Energy Alternative

HYDERABAD, India, Aug. 6, 2025 — HYLENR, a clean energy startup harnessing patented Low Energy Nuclear Reactions (LENR) to develop scalable, carbon-free heat energy systems for industrial heat and power, today announced the successful closure of around USD 3.0 Million strategic Pre-Series A funding round to accelerate product commercialisation.

The round was led by Valour Capital and Chhattisgarh Investments Limited, early-stage investors focused on deep-tech/energy transition technologies. Individual investors Karthik Sundar Iyer and Anant Sarda also participated. PwC served as the company’s advisor on the transaction, while Samvad Partners was their legal advisor.

The fresh capital injection enables HYLENR to fast-track from pilot to market launch, signaling growing investor confidence in LENR as a viable alternative to fossil fuels amid rising interest in its breakthrough heat energy amplification and scalable commercial systems.

Karan Goshar, Partner at Valour Capital, commented, “HYLENR’s LENR technology is disruptive; it represents a leap forward in redefining how the world approaches industrial heat and energy generation. What excites us most is the scalability and safety profile of their systems, coupled with the perfect mix of technological and entrepreneurial expertise within the team, which positions HYLENR to play a key role in the global energy transition. We are thrilled to back a team delivering transformative technology.”

“We believe LENR has the potential to be the safest and most energy-efficient thermal and electrical generation technology of the future,” said Siddhartha Durairajan, Chairman and Managing Director of HYLENR. Adding, “Our recent lab results show unprecedented energy gain ratios, and this round gives us the momentum to focus on our product roadmap. We have begun early proof-of-concept tests, with several government bodies and large corporations showing interest in our LENR systems. The next phase will focus on scaling manufacturing and expanding globally.”

“This round is a vote of confidence in both our technology and our mission,” expressed Ram Ramaseshan, Co-Founder, Executive Director and CEO of HYLENR. “We have moved beyond proof-of-concept into a phase where LENR can begin to address real-world energy challenges. This funding allows us to accelerate product development and market reach, addressing industry needs for clean, high-yield thermal and electrical energy solutions in the US, Europe, India and Japan markets.”

Pilot projects are already underway with leading government institutions and industrial players, aimed at replacing conventional fossil-based systems with sustainable, next-generation alternatives. The company’s product pipeline includes products ranging from 7.2KW for domestic consumption all the way to 1MW for large-scale industrial applications.

With its next fundraising round of USD 25 Million targeted with strategic investors and with Clean Energy focused funds from the U.S. and Europe, HYLENR aims to build on this momentum and expand its R&D, engineering, and international partnerships. The company is seeking mission-aligned investors who recognize LENR as a foundational pillar of the post-carbon energy era.

The inspiration for LENR technology comes from HYLENR’s Chief Innovation Officer, Padma Shri Dr. Prahlada, renowned as the Missile Man of India for his work on the Akash missile, and Dr. Varaprasad, the company’s Chief Scientific Officer.

About HYLENR Technologies

Founded in 2024 and based in Hyderabad, HYLENR Technologies is at the forefront of next-generation energy innovation. The company’s proprietary LENR-based hybrid heat systems aim to revolutionize thermal energy generation across industries such as manufacturing, oil & gas, district heating, and clean water desalination. Their breakthroughs in LENR are now protected by two patents — one for the product architecture, and another for the underlying process innovation. https://www.hylenr.com 

About Valour Capital 

Valour Capital is a venture capital firm backing breakthrough startups with the potential to create global impact. With a portfolio spanning cleantech, AI, biotech, and infrastructure, Valour is committed to investing in technologies that reimagine industries and reshape the future.

Photo: https://mma.prnewswire.com/media/2745106/Team_Hylenr.jpg
Logo: https://mma.prnewswire.com/media/2650615/5447486/Hylenr_Logo.jpg

SOURCE HYLENR

FORT WORTH, Texas, Aug. 5, 2025 — AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions in North America, today announced the successful repricing of AZZ’s currently existing $434.9 Term Loan B due May 13, 2029. The repricing reduces the interest rate margin on Term Loan B by 75 basis points to SOFR + 175 basis points resulting in annual interest savings of approximately $3.3 million per year.

Jason Crawford, Chief Financial Officer commented, “We are pleased to announce the successful completion of our Term Loan B refinancing once again. We achieved a 75-basis point reduction on our loan borrowing rate with no change to our leverage, covenants, or maturity date. This is the fourth such reprice AZZ has completed, resulting in interest rate margin savings of 250 basis points in total, following the issuance of the Term Loan B in May 2022. Since acquiring Precoat Metals in May 2022, we have reduced both the principal and interest rate on our Term Loan B as we continue to take a disciplined approach to lowering our overall net debt to EBITDA leverage ratio, which stood at 1.7x as of May 2025.”

About AZZ Inc.

AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “could,” “should,” “expects,” “plans,” “will,” “might,” “would,” “projects,” “currently,” “intends,” “outlook,” “forecasts,” “targets,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process; supply-chain vendor delays; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ’s growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation or changes in the political stability in the United States or Canada; tariffs; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025, and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations and Company Contact:
David Nark, Chief Marketing, Communications, and Investor Relations Officer
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Sandy Martin / Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com

SOURCE AZZ, Inc.

BROOKVILLE, Pa., Aug. 5, 2025 — OCI, LLC (“OCI”), a portfolio company of Grand Valley Holdings and Gemspring Capital and a manufacturer of custom-built foundation drilling components for the infrastructure and construction markets, announced today that it has merged with GMS Piling Products, LLC (“GMS”), a trusted manufacturer of micropiles based in Wilkes-Barre, Pennsylvania. Terms of the transaction were not disclosed.

Founded in 2009, GMS is a full-service provider of steel micropile fabrication, manufacturing, and value-added supply solutions. The company serves a broad range of customers across the United States and is well-regarded for its commitment to quality, reliable delivery, and outstanding customer service.

This strategic partnership represents a key milestone for both organizations, creating an integrated platform with four U.S.-based manufacturing facilities, and enhanced coast-to-coast capabilities. GMS’s deep expertise in micropiles, threaded bar, and related accessories complements OCI’s core competencies, broadening its product portfolio and expanding its national footprint.

“Merging with GMS strengthens OCI’s position as a premier turnkey foundation and drilling partner,” said Tim Lautermilch, CEO of OCI. “This combination enables clients to source micropile systems, precision-machined components, and drilling consumables from a single trusted partner, supported by rapid order fulfillment and expert technical support.”

Gene Swindell, founder of GMS, added, “Joining forces with OCI is a natural evolution for GMS. We are excited to combine our capabilities and further invest in the exceptional quality and service that have long defined our business to best serve our customers.”

About OCI
OCI is a market leader in supplying a wide range of equipment to geotechnical service companies and drilling contractors including micropile casing, drill string, hammers and bits, augers, core barrels, swivels, and other customized products. Founded in 1998, the company is headquartered in Brookville, Pennsylvania. For more information, visit www.ocidivision.com

About GMS Piling
GMS is a full-service supplier of steel deep-foundation products – including micropile casing, pipe piling, drill rods, hammers and bits, and custom fabrications – to geotechnical and deep-foundation contractors nationwide. Founded in 2009 and headquartered in Wilkes-Barre, Pennsylvania, the company operates a 225,000-square-foot manufacturing facility on a 30-acre campus. For more information, visit www.gmspiling.com

About Grand Valley Holdings
Grand Valley Holdings is a Cincinnati-based acquiror of privately-held, family-owned businesses in the Midwestern United States. The Partners of Grand Valley Holdings, Lachlan McLean and Andrew Brennan, bring over 35 years of experience acquiring, developing, and operating private businesses. For more information, visit www.gvhllc.com

About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.8 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2 billion in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com

SOURCE Grand Valley Holdings, LLC