CLARKSBURG, Md., Sept. 10, 2024 — Forterra, a leading self-driving technology company, today announced its $75 million Series B fundraise that was more than 2.5x oversubscribed. The round was led by Moore Strategic Ventures, XYZ Venture Capital, and Hedosophia, with participation from Standard Investments and existing investors, including Enlightenment Capital, Crescent Cove Advisors, and Four More Capital. The new funding will enable Forterra to accelerate and scale the deployment of their autonomous driving system (ADS), AutoDrive®, with defense and industrial customers.

“Forterra has proven that self-driving technology can be deployed today to solve real-world challenges in demanding environments,” said Josh Araujo Forterra CEO. “We are committed to improving the lives and safety of soldiers, Marines, and industrial workers, by taking people out of harm’s way with AutoDrive. This funding allows us to further develop, test, and deploy self-driving platforms with ever-increasing capabilities for both defense and industrial applications.”

“We can’t imagine a team better suited to take on these challenges — of everyone in the market, they have the right to win given their firsthand experience on the battlefield and interacting with government buyers,” says Ross Fubini, Managing Partner of XYZ Venture Capital, which co-led this round. “They know exactly what these machines need to be capable of doing and have the acumen and connections to move fast and build the best solutions. We see a lot of defense tech at XYZ, and Forterra is uniquely set up for product-market fit.”

Logan Ashcraft, Principal at Standard Investments, said “We believe in the potential for autonomous technology to disrupt many high-cost, low-margin business models. In its approach to both industrial and off-road autonomy, Forterra is setting a new standard for excellence across logistics, industry, and defense. We’re excited to partner with the company in its next stage of growth.”

The funding follows a series of significant milestones for Forterra over the past 12 months, including:

• The first successful deployment of autonomous driving systems (ADS) on the first production program in the Department of Defense (DoD) – The Remotely Operated Ground Unit for Expeditionary (ROGUE) Fires
• A strategic partnership with Kalmar for production of self-driving yard trucks for global distribution

Forterra is actively delivering capabilities on these DoD ground autonomy programs, including:

• The Robotic Combat Vehicle (RCV)
• The Ground Expeditionary Autonomous Retrofit System (GEARS)
• The Small Multi-purpose Equipment Transport (SMET) with operational units

These efforts enable the DoD to scale logistics capabilities and firepower without adding people to combat units. The Forterra team is committed to continuing to build innovative self-driving systems that prioritize safety, efficiency and scale, and we are excited to continue this mission.

Media Contact:
[email protected]
For more information about Forterra, please visit www.forterra.com

SOURCE Forterra

GOTHENBURG, Sweden, Sept. 10, 2024 — Volvo Group Venture Capital AB invests in the U.S.-based company aifleet, a trucking company leveraging its unique AI-technology to reshape the future of trucking focusing on truck utilization and driver satisfaction.

“aifleet is addressing inefficiencies in the trucking industry in a differentiated manner, building technology and proving out its capabilities through their own fleet operations,” said Joe Darcy, Investor at Volvo Group Venture Capital. “Not only are they increasing the utilization of the trucks on the road but also making sure drivers have an optimized working environment.”

Founded in 2020, aifleet operates in the U.S. full-truckload (FTL) segment of the trucking industry, where a truck’s full capacity is bought to ship larger freight between set destinations. The segment is currently fragmented and challenged by low driver utilization, and facing inefficiencies like empty miles in the supply chain.

“The U.S. full-truckload (FTL) market size is $400 billion, but it’s a massively inefficient and fragmented market with half a million carriers, where even the biggest has less than 1% of the market. As truck utilization has trended downward since 2018, aifleet has developed technology to mitigate the utilization problem to radically improve trucking efficiencies, while bringing real humanity back to the driver experience,” said Marc El Khoury, co-founder and CEO of aifleet. “We are excited about Volvo’s investment and we are looking forward to continuing to leverage our technology to create a more sustainable fleet and industry.”

Powered by its proprietary AI-technology, aifleet is building a trucking fleet focused on increased driver satisfaction that boost truck utilization with better planning tools and smarter algorithms. By optimizing route planning and scheduling, and building end-to-end automation, aifleet’s own operation generate over 40% higher driver utilization than industry average.

“We’re excited about the opportunity to collaborate with aifleet,” said Stephen Roy, Chairman of Volvo Group North America and President of Mack Trucks.  “The Volvo Group is committed to driving innovation and more sustainable transportation solutions, and it’s clear that aifleet, leveraging their unique technology, shares our ambition.”

Volvo Group Venture Capital was founded in 1997 and invests globally in venture companies. The aim is to drive transformation by facilitating the creation of new services and solutions and to support collaborations between start-ups and the Volvo Group. The market trends shaping the future of transportation and infrastructure solutions and the strategic priorities of the Volvo Group define the investment focus areas: Logistics Services, Site Solutions, Electrification, and Sustainability.

The transaction has no significant impact on the Volvo Group’s earnings or financial position.

Journalists wanting further information, please contact:
Claes Eliasson, Head of Media Relations
+46 76 553 7229
[email protected]

For more information, please visit volvogroup.com 
For frequent updates, follow us on X: @volvogroup

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/ab-volvo/r/volvo-group-venture-capital-invests-in-aifleet–an-ai-driven-trucking-company,c4035386

The following files are available for download:

SOURCE AB Volvo

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This celebration of Massachusetts’ Tough Tech leadership is organized by The Engine 

CAMBRIDGE, Mass., Sept. 10, 2024 — This October, you’ll find hundreds of leaders gathered on both sides of the Charles River, working to solve the world’s toughest challenges while building community, resources, and momentum. Organized by The Engine with presenting sponsor J.P. Morgan, Tough Tech Week cements Massachusetts as the premier hub for Tough Tech innovation. Participants will get to know the city’s thriving ecosystem of science and engineering-backed venture activity, supported by our research institutions and deep bench of talent. The week is anchored around the seventh annual Tough Tech Summit, produced in partnership with Engine Ventures.

Tough Tech Week will showcase climate, biotech, pharma, robotics, AI, quantum computing, advanced systems, and other transformative technology being developed and commercialized right here in the Commonwealth. The week is a collaboration across our vibrant ecosystem and brought to you by the collective efforts of partner organizations, universities, and companies. Community-based events will convene Tough Tech researchers, startups, investors, corporate leaders, government, and other ecosystem members across all of Boston and Cambridge. Attendees will have the opportunity to participate in panels, pitch sessions and demo days, founder discussions, workshops, live podcast events, and industry-specific gatherings.

Get Involved
Whether you’re a founder, investor, researcher, enthusiast, or another member of this ecosystem, there’s a place for you at Tough Tech Week. Join us in driving the next wave of technological breakthroughs and building a resilient future. Visit toughtechweek.xyz to RSVP to posted events and submit your own event to the growing list of activities.

Highlights include:

• (Monday, Oct 7) Tough Tech Week Kickoff with GE Vernova: Join GE Vernova leadership and Yvonne Hao, Massachusetts’ Secretary of the Executive Office of Economic Development, for a Tough Tech Week Kickoff Event at GE Vernova’s Cambridge world-headquarters.
• (Monday, Oct 7) Investing in Tough Tech with ven^x: An event featuring a diverse set of perspectives on the nuances of Tough Tech investing, hosted by Boston’s first collaborative deep tech VC hub.
• (Monday, Oct 7) Financing First-of-a-Kind Tough Tech Projects: A panel of experts from The Engine and HSBC Innovation Banking discussing best practices in financing innovative technologies and de-risking the process of getting ideas out of a lab, into a factory, and into the world
• (Tuesday, Oct 8) Breakthrough Energy Fellows Investor Breakfast: An invite-only gathering of Breakthrough Energy Fellows and key climate tech investors, this event will provide an opportunity to connect, share insights, and explore opportunities within the tough tech ecosystem. Space and coordination generously supported by J.P. Morgan and Cambridge Consultants.
• (Tuesday & Wednesday, Oct 8-9) Tough Tech Summit: A gathering of thought leaders, investors, entrepreneurs, and researchers for a two-day summit co-hosted by Engine Ventures and The Engine.
• (Tuesday, Oct 8) Climate Tech Cocktails Party at The Grand: Convening the climate tech community and our supporting ecosystem to accelerate momentum in Boston.
• (Thursday, Oct 10) Activate Demo Day & Tech Showcase: Activate Demo Day in Boston is an in-person, hands-on investor expo where Activate Fellows present their cutting-edge innovations to investors, industry leaders, and key stakeholders, marking their transition from groundbreaking research to impactful market-ready technologies.

Join Us in Boston
Experience the dynamic Tough Tech ecosystem firsthand. For startup founders, investors, researchers, and the Tough Tech curious, Tough Tech Week offers a platform to engage with the forefront of technology and innovation. Visit ToughTechWeek.xyz to learn more about events, RSVP, and get updates as the agenda evolves; and follow the action on LinkedIn.

Special thanks to our presenting sponsor, J.P. Morgan, as well as The Engine’s partners and Tough Tech Week event hosts:

Activate | Arrow Electronics | Breakthrough Energy Fellows | BXP | Cambridge Consultants | Climate Tech Cocktails | Commonwealth of Massachusetts | CSC Leasing | Dacon Corporation | The Engine Ventures | Eppendorf | GE Vernova | Greentown Labs | Hilti | HSBC Innovation Banking | Kendall Square Association | LabCentral | Marsh McLennan Agency | MassINC | MilliporeSigma | Mintz | MIT Museum | MIT Open Space Programming | Museum of Science | New England Network Solutions | Thermo Fisher | Triumvirate Environmental | ven^x

About The Engine

The Engine was built by MIT to support and accelerate any and all Tough Tech companies solving the world’s most challenging problems, as they move from research breakthroughs to commercial impact. The Engine provides the critical infrastructure, programs and ecosystem early-stage Tough Tech companies need to thrive. Learn more at www.engine.xyz. 

Media Contact:
Jacqui Miller
+1 (978) 314-3146
[email protected]

SOURCE The Engine

Funding will support the company’s open, secure software and hardware ecosystem for the Uncrewed Aircraft Systems (UAS) Community

SAN ANTONIO, Sept. 10, 2024 — Darkhive, Inc., a defense tech startup focused on open architecture Uncrewed Aircraft Systems (UAS) integrated with a secure software delivery system, closed its Series A investment round led by Ten Eleven Ventures.

Darkhive’s mission is to create an accessible situational awareness system for all US-allied military and public safety personnel. The company is developing lightweight, short- and mid-range reconnaissance drones supported by a proprietary software continuous delivery platform. The company’s software platform is designed to build, scan, test, and securely deploy Department of Defense (DoD) accredited software to UAS including secure updates, and will ultimately enable comprehensive fleet and device management in the field.

Ten Eleven Ventures General Partner Mark Hatfield noted: “Ten Eleven’s investment in Darkhive is part of our commitment to cybersecurity-focused companies supporting national security initiatives. We believe Darkhive’s platform offers the most compelling way to integrate vital secure code delivery and asset management for UAS fleets and, ultimately, other IoT devices used within US and US-allied military units.”

The Series A investment will help the company develop its product portfolio, expand its resources to support secured DoD contracts, and pursue new business opportunities. The funding will also enable the company to distribute its life-saving ecosystem to more teams in the field, ensuring they obtain the equipment needed to properly support their crews.

“The US and our allies around the world require secure, adaptive, and cost-effective autonomous drones to enable unified, rapid response to global security threats. The current UAS landscape is full of hurdles that leave users in the field at an extreme disadvantage; Chinese offerings are intuitive to use and affordable, but have known cyber security vulnerabilities. While American-made products are secure, they’re expensive and difficult to use effectively. We owe it to the men and women on the front line to provide a complete solution that is secure, affordable, reliable, and can be used by anyone in the field,” said John Goodson, CEO of Darkhive.

“We were excited to lead Darkhive’s seed round in 2023,” shared Matt Bigge, Crosslink Capital Partner and Darkhive Board Member, “and everything we’ve seen since that partnership has reinforced our belief in the team, their growth, and the impact they are set to make on the UAS industry and the future of US National Security.”

Additional investors in this round included Crosslink Capital, RTX Ventures, and Stellar Ventures. Last year, the company closed a $4M Seed round led by Crosslink Capital and joined by Stellar Ventures, MVP Ventures, and Capital Factory. Darkhive has previously been awarded an SBIR Phase III IDIQ with AFWERX Autonomy Prime, three SBIR Phase IIs, an STTR Phase II with the University of Alaska, an RDT&E contract with the OUSD RE, and an OTA contract with DIU NSIC.

About Darkhive
Darkhive, a defense-tech startup, is dedicated to moving the US drone industry forward by committing to design products that are cost-effective and National Defense Authorization Act compliant with well-documented, fully open interfaces, providing tactical and emergency response teams with life-saving situational awareness products that get the job done.  Driven by an obsession to deliver value at scale to tactical users conducting missions around the world , Darkhive has developed a close working relationship with the Department of Defense (DoD), securing a Phase III Small Business Innovation Research (SBIR) $100 MM AFWERX (United States Air Force innovation unit under the Air Force Research Lab) contract for small unmanned aerial systems (UAS), software development, and integration for autonomy infrastructures and platforms.  Darkhive was previously awarded four SBIR Phase IIs, an STTR Phase II with the University of Alaska, and Research, Development, Test & Evaluation contract with the Office of the Under Secretary of Defense for Research & Engineering and an OTA contract with the Defense Innovation Unit National Security Innovation Capital.. To learn more, visit www.darkhive.com or follow us on LinkedIn.

About Ten Eleven Ventures
Ten Eleven Ventures is the original cybersecurity-focused, global-stage agnostic investment firm. The firm finds, invests, and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network, and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US 1 billion and made over 50 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance, and Ping Identity. For more information, please visit 1011vc.com.

Darkhive Press Contact:
Amanda Johnson
Director of Events & Marketing, Darkhive
[email protected]
+1 (719) 368-0199

Ten Eleven Ventures Press Contact:
Monsy Carlo
[email protected]
+1 (407) 690-9071

SOURCE Ten Eleven Ventures

Funds will advance the clinical testing of Discure’s breakthrough device for degenerative disc disease 

PETACH-TIKVA, Israel, Sept. 10, 2024 — Discure Technologies Ltd., developer of the Discure System, a bioelectronic implantable device for the treatment of degenerative disc disease (DDD), announced today that the Company has secured $11 million in an oversubscribed Series A financing round, following a SAFE (Simple Agreement for Future Equity) raise of $5 million, bringing the total equity financing raised to $16 million. The Series A round was led by BOLD Capital Partners, Supernova Invest and Sanara Capital, with participation from multiple US hospital networks, leading orthopedic surgeons, veteran medtech industry investors, and existing investors, underscoring their collective confidence in Discure’s vision, strategy, innovative solution and the significant market opportunity.

“We welcome our new partners and investors to our existing investor group. The SAFE allowed us to complete development of the Discure System, as well as successfully complete our comprehensive pre-clinical program, adding studies in large animals and human cadaveric discs, thereby setting the stage for this successful Series A round. This latest investment will accelerate our growth, allowing us to make key hires and fully fund our First-in-Human clinical study in Canada and Italy,” said Yuval Mandelbaum, CEO, Discure Technologies. “The investment validates the Company’s novel, minimally invasive approach to reverse disc degeneration, shifting the paradigm from symptom management to addressing the problem by regenerating the disc.”

“We are excited to invest in Discure’s Series A financing,” said Neal Bhadkamkar of BOLD Capital Partners in California, USA. “We focus on companies using cutting edge technology to solve problems that impact people’s lives. DDD and its accompanying back pain are a natural result of aging. It is bad for the person suffering from it and it is bad for the economy in terms of lost workdays. Discure is the first company we have seen with an approach that has the potential to not only alleviate the pain but also reverse the underlying disc damage causing the pain. Just as important, we were impressed by the expertise, focus and dedication of the Discure team and are honored to back them in this journey.”

“Discure is the only medical device company that has demonstrated a clear focus on addressing the underlying cause of DDD. We firmly believe that the technology’s capacity to treat patients at an earlier stage, thereby avoiding the necessity for aggressive surgical procedures, will make a tangible impact. We are delighted to be joining the existing shareholders in supporting this excellent company and team” added Pascal-André Chenal, Investment Director at Supernova Invest, France.

About Low Back Pain and Degenerative Disc Disease

Low back pain is the leading cause of disability globally, the second most common reason for physician visits in the U.S., and accounts for economic losses in excess of $100 billion annually in the U.S. alone. Degenerative disc disease (DDD) is associated with over 35 percent of all low back pain cases. Current treatments for DDD include opioids, injections and invasive surgery, and are only symptom-modifying with limited long-term relief.

About Discure Technologies

Discure Technologies, founded by Rainbow Medical, is developing a minimally invasive, implantable bioelectronic device designed to treat and reverse degenerative disc disease (DDD) by actively controlling the reintroduction of fluid, oxygen, and nutrients into the degenerated disc. Unlike existing symptom-focused treatments, the Discure System has the potential to be the first disease-modifying solution for DDD, designed to reduce the use of opioids and the need for invasive back surgery.

The Company received Breakthrough Device Designation from the U.S. Food and Drug Administration in 2021 and was named “Best New Technology in Spine Care” by a distinguished panel of US orthopedic surgeons. The Company is conducting a First-in-Human clinical trial in Canada and Italy. Investors in the company include Bold Capital Partners, Supernova Invest, Sanara Capital, JJDC, UVM Health Network Ventures and VTC Ventures. To learn more about Discure, visit www.discuretechnologies.com  

About Bold Capital Partners

Bold Capital Partners invests in emerging science and technology companies seeking to disrupt and democratize massive markets, creating innovative solutions to humanity’s greatest challenges. It has offices in Santa Monica, California and Cambridge, Massachusetts. www.boldcapitalpartners.com

About Supernova Invest

Supernova Invest is a leading deep tech Venture Capital firm in Europe, managing €800+ million in assets. The current portfolio includes 80+ innovative and impact-driven companies that develop products and services leveraging breakthrough technologies in 4 transition-centric sectors: Cleantech, Digital, Industrial Technologies and Healthcare. www.supernovainvest.com

About Sanara Capital

Sanara Capital is a Health-Tech fund specializing in Digital Health, Bio-Convergence, and Medical Devices, with a focus on A & B financing rounds of Israeli related startups that are dedicated to improving patient outcomes and revolutionizing the healthcare industry. Sanara Capital is a follow-on fund of Sanara Ventures, a seed-stage investment platform, established in 2015, and backed by industry leaders Philips and Teva, with nearly 20 active portfolio companies. www.sanaracapital.com

Media Contact: 

Tsipi Haitovsky
Global Media Liaison
+972-525-989892
[email protected]

Logo – https://mma.prnewswire.com/media/2501411/Discure_Technologies_Logo.jpg

SOURCE Discure Technologies

Company brings over a decade of experience in the formulation and commercialization of natural, biological pest control products for plant, home and public health

VANCOUVER, BC, Sept. 10, 2024 — Catalera BioSolutions (“Catalera”), a pioneering innovator in biological pest control solutions, today announced the initial close of its Series A funding round. Launched mid-May, Catalera is an independent company spun out from Terramera, an ag-tech company based in Vancouver.

The launch of Catalera is made possible through a US$8M investment round led by S2G Ventures (“S2G”), with follow-up investment from Farm Credit Canada (FCC) Capital, and a second and final close expected in Q4 of 2024.

Catalera creates innovative biological products using a purpose-built toolkit of patented technologies to overcome the core challenges that have so far prevented the broad based adoption of biological products. Building on a solid foundation from existing commercial products including: RANGO® for specialty crops, SOCORO® for row crops, Vaporpad® for professional bed bug treatment and the recent registration of TRIFECTO® in Mexico, the company is well positioned to deploy several new biological products over the next few years and substantially grow its portfolio.

The $70 billion synthetic chemistry industry for agriculture and consumer pest control is facing significant challenges stemming from nearly a century of overreliance on synthetic chemicals. This has created far-reaching impacts in the world including food security risks, soil and water damage, and negative effects on human health.

“Consumers, government, and industry, including the world’s largest agriculture companies, are wanting to move to biologicals. But natural solutions need a helping hand to meet the needs of industry, growers, and consumers. As an experienced and agile company, Catalera holds the keys to unlocking the potential of biologicals and making a major impact in agriculture and beyond,” said Matthew Dahabieh, CEO of Catalera. “Our team has been developing safe, effective, and cost-competitive biological products for over a decade. We have launched numerous products with leading partners, and have an exciting pipeline of new products in development, which this new funding will help us get to market.”

“We are at a pivotal moment in the biologicals market. The convergence of global events leading to severe supply chain disruptions, as well as growing concerns around the impacts of fertilizer use, are causing many farmers to reevaluate their approach,” said Sanjeev Krishnan, managing partner at S2G. “We believe Catalera’s distinctive platform capabilities for unlocking biological formulation and cutting-edge product portfolio signals a promising future for the industry. We look forward to supporting them in their mission.”

This is FCC Capital’s first investment by the newly created arm at the Canadian lender that is proud to be 100% invested in Canadian agriculture and food.

“FCC is thrilled to announce our first co-investment in Catalera BioSolutions alongside S2G, which has a decade of experience investing in the global food and agtech space. This transaction aligns with FCC’s commitment to build a capital solutions platform which delivers impactful financing for innovative companies with the potential to advance the Canadian food and agriculture industry,” said Justine Hendricks, FCC president and CEO. “We are excited to support Catalera BioSolutions and leverage our expertise, data, and relationships to help them grow and succeed.”

More information and images are available here.

About Catalera BioSolutions:
Catalera BioSolutions Inc. is a leading developer of biological solutions for plant, home, and public health. Based out of Vancouver, Canada, the company has over a decade of experience innovating formulation technology to create efficacious biological pesticides for the consumer, professional, and agricultural markets. Inspired by the question, “What if synthetic chemistry was never invented?”, Catalera is on a mission to unlock the power of biologicals in our lives and accelerate the transition to a more beneficial future! For more information visit catalera.com.

About S2G Ventures:
S2G is a multi-stage investment firm focused on venture and growth-stage businesses across food and agriculture, oceans and energy. The firm provides capital and value-added resources to entrepreneurs and leadership teams pursuing innovative market-based solutions that S2G believes are cheaper, faster or better than traditional alternatives. With a commitment to creating long-term, measurable outcomes, S2G structures flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2gventures.com or connect with us on LinkedIn.

About FCC:
FCC is proud to be 100% invested in Canadian agriculture and food. Our employees are committed to the long-standing success of those who produce and process Canadian food. FCC provides flexible financing and capital solutions, while creating value through data, knowledge, relationships and expertise. FCC offers a complement of financial and non-financial products and services designed to support the complex and evolving needs of the industry. As a commercial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it serves. For more information, visit fcc.ca.

Media Contacts:
Catalera: Kim Haakstad – [email protected]
S2G: Ally Dunne – [email protected]
FCC: Jill McAlister – [email protected]

SOURCE Catalera BioSolutions

New investments secured for Infinium and company’s Project Roadrunner production plant to accelerate availability of sustainable aviation fuel

SACRAMENTO, Calif., Sept. 10, 2024 — Infinium, the world’s first producer of commercially available ultra-low carbon eFuels, and Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”) today announced a strategic funding partnership to accelerate the growth of Infinium’s eFuels platform. Infinium eFuels—which includes eSAF, a next generation sustainable aviation fuel—can reduce lifecycle greenhouse gas emissions by approximately 90% or more compared to today’s conventional fuels.

Under the terms of the deal, Brookfield has committed to invest more than $200 million in Infinium and Infinium’s Project Roadrunner that is under development in West Texas and up to an additional $850 million for deployment of other Infinium eFuels projects globally, all subject to pre-agreed metrics. The investment will be made by the first vintage of the Brookfield Global Transition Fund (“BGTF I”) and marks Brookfield’s first direct investment in sustainable aviation fuel. Brookfield will also serve as lead in Infinium’s Series C Preferred Stock offering.

“Brookfield is a tremendous partner, and we are thrilled to secure this additional capital as we scale eSAF production to meet the overwhelming demand from the aviation industry,” stated Infinium CEO Robert Schuetzle. “Our Project Pathfinder site was the first to bring commercial volumes of eFuels to market, and Project Roadrunner brings additional volumes of eFuels to scale global supplies. As our airline partners continue to push for more SAF and decarbonization options, Infinium remains committed to accelerating production to help meet those demands.”

Infinium eSAF is the newest generation of sustainable aviation fuel and is produced through a proprietary process that combines water, waste CO₂ and renewable energy to produce ultra-low carbon fuels including eSAF, eDiesel and eNaphtha. eFuels are “drop-in” replacements for today’s fossil-based fuels and can be used without changes to engines or infrastructure in planes, ships, trucks and manufacturing processes.  

Infinium recently announced a strategic deal with American Airlines, in which American will purchase commercial volumes of Infinium eSAF starting in 2026 produced by Project Roadrunner. The agreement helps secure offtake for Project Roadrunner and fuel for American to help decarbonize its airplane fleet while meeting its aggressive sustainability goals.

The Project Roadrunner site will also produce eNaphtha, which can be used in plastics manufacturing, and eDiesel, which can be used in long-haul trucking and maritime applications—sectors which are harder to electrify. Infinium is progressing a number of offtake contracts for the remainder of the plant’s capacity that it expects to announce in due course.

“We are very excited to be partnering with Infinium, a leader in the development and production of ultra-low carbon intensity drop in fuel alternatives. Our investment is structured to provide the capital Infinium needs to accelerate the production of sustainable aviation fuels to meet the growing demand from corporate customers while generating attractive risk-adjusted returns for Brookfield,” said Jehangir Vevaina, Managing Partner at Brookfield. “In addition to Roadrunner, Infinium has a large pipeline of well positioned projects to help meet the demand for the structurally short eFuels market, and we are looking forward to the opportunity to participate in the development of further eFuels projects through follow-on investments.” 

Brookfield joins existing Roadrunner backer Breakthrough Energy Catalyst, who previously made a $75 million conditional commitment to Infinium’s Project Roadrunner. The Breakthrough team has served as a driving force in supporting Roadrunner’s progress and provided expertise to Infinium as they created an investable project structure.

“Our investors continue to demonstrate their confidence in Infinium and the huge potential for eFuels in the marketplace,” added Schuetzle. “The global supply chain is in desperate need of decarbonization, and solutions like eSAF are the answer.”

About Infinium

Infinium is an electrofuels provider on a mission to decarbonize the world. Electrofuels, also known as eFuels, are a new class of synthetic fuels created using renewable power and waste carbon dioxide, not petroleum or resources that compete with food. Infinium eFuels such as eSAF jet fuel and eDiesel can be dropped into existing planes, trucks and ships, significantly reducing harmful carbon dioxide emissions compared to fossil-based fuels. In addition to helping the transport industry meet carbon reduction goals, Infinium eNaphtha is a lower carbon alternative for chemical processing, including plastics production. Learn why Amazon, American Airlines, Citi and other leading cleantech innovators have chosen Infinium at www.infiniumco.com.

About Brookfield

Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately $1 trillion of assets under management. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield operates Brookfield Renewable Partners (NYSE: BEP, TSX: BEP), one of the world’s largest publicly platforms for renewable power and sustainable solutions. Our renewable power portfolio totals over 34,000 megawatts and our development pipeline stands at approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling.

Logo – https://mma.prnewswire.com/media/1982520/Infinium_Logo.jpg 

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Selected as a Constituent Stock of the Hang Seng Corporate Sustainability Benchmark Index for Five Consecutive Years

HONG KONG, Sept. 9, 2024 — Hang Seng Indexes Company recently announced its latest Sustainability Ratings of listed companies. Fosun International Limited (HKEX stock code: 00656, “Fosun International”) with its outstanding sustainability performance, has received its rating of AA- for two consecutive years, reflecting the high recognition of Fosun International’s performance in the ESG (Environmental, Social, and Governance) field by the market.

The Hang Seng Sustainability Rating utilizes the sustainability rating framework of the independent professional assessment body, the Hong Kong Quality Assurance Agency (HKQAA) and selects outstanding companies in the field of sustainability by evaluating listed companies on seven core indicators, including corporate governance, environment, and fair operating practices.

Leveraging on years of continuous cultivation and efforts in the ESG field, Fosun International has received its rating of AA- for two consecutive years, boasting scores that outperformed 90% of global enterprises in four core areas: Corporate Governance, Environment, Consumer Issues, and Community Involvement and Development. Fosun International has also been selected as a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for five consecutive years.

Since its establishment, Fosun remains steadfast in upholding its core values of “Self-improvement, Teamwork, Performance and Contribution to Society”, continually bolsters its ESG framework and investment. Fosun has established a sound ESG governance structure and management system and integrated the principles of sustainable development into every facet of its operations. Fosun actively responded to national strategies, ensured information security, promoted technology innovation, participated in public welfare, protected the rights and interests of employees to promote sustainable management and value creation. Additionally, Fosun has committed to society – “strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050” and released the Climate Information Disclosures Report for two consecutive years, underscoring its commitment to climate action and rallying global cooperation towards carbon neutrality.

In recent years, Fosun has shown outstanding performance in various aspects of ESG. Presently, Fosun International is the only conglomerate in Greater China rated AA by MSCI ESG Ratings. Fosun International outperformed 94% of its global peers in the S&P Global Corporate Sustainability Assessment, and was included in the Sustainability Yearbook 2024 by S&P Global. Fosun International was also ranked top 1% in S&P Global’s Sustainability Yearbook 2024 (China Edition) and recognized as an “Industry Mover”. Furthermore, Fosun International’s FTSE Russell ESG score was consistently higher than the global industry average and it has been continuously selected as a constituent stock of the FTSE4Good Index Series.

In the future, Fosun will continue to deepen its businesses, strengthen innovation and globalization, and continue to drive long-term and sustainable business development, thereby creating long-term value for all stakeholders and fulfilling its mission of “Creating Happier Lives for Families Worldwide”.

SOURCE Fosun

Fund III addresses a significant need in the venture capital industry by allowing early-stage investors to maximize returns on their best deals.

NEW YORK, Sept. 9, 2024 — Alpha Partners, a leading growth equity firm that invests in top-tier growth equity rounds led by the world’s best investors, today announced the final close of its oversubscribed third fund, Alpha Partners Fund III (“Fund III”) with $153 million in commitment. Alpha will continue the mission it pioneered in 2013, of investing in the best growth stage opportunities by partnering with over 1,000 early-stage venture firms who have insider access to their own top-returning portfolio companies. These early-stage funds often have the access to the best opportunities, but 5-10 years after their initial seed or early stage investment, lack existing fund capital to fund these companies’ de-risked later rounds. Alpha estimates that the size of this emerging investment opportunity amounts to tens of billions annually.

Alpha Fund III investors include returning investors and a diverse group of new backers, including prominent U.S. and international institutions, family offices, and registered investment advisors. This interest has propelled Alpha Fund III to become nearly three times larger than its previous fund, growing their assets under management to over $300 million.

“We are grateful that nearly all of our limited partners renewed their commitment with us,” said Steve Brotman, Managing Partner at Alpha Partners. “We’re excited to add a number of institutions from around the world as new limited partners.”

With Fund III, Alpha Partners will continue to focus on the proven investment strategy that it pioneered in 2013. Alpha helps early-stage investment firms access fresh reserve capital to maximize their ownership in their best-performing companies. Alpha’s collaborative approach enables it to invest with little competition into companies that attract over-subscribed rounds from the world’s best investment firms.

Recent investments include Pearl, an FDA approved AI platform that allows dental professionals to review dental x-rays more efficiently; Second Front, a software company that enables commercial software vendors to sell their products to the US government in a secure, cost-effective, and rapid manner; Shield AI, a developer of autonomous drone systems and AI piloting software; Rad AI, an AI platform for radiologists that streamlines their workflows; and Chainguard, a software supply chain cybersecurity firm that’s protecting the integrity of open source code.

Alpha’s portfolio company exits by IPO include Coupang, Coursera, Rover, Udemy, Vroom, and Wish, as well as exits by acquisitions including HPE’s acquisition of Cloud Technology Partners and by Uber’s acquisition of Careem. 

About Alpha Partners

Alpha Partners is investing out of its third fund, a $153 million growth fund, that invests $3 million to $15 million into primary financing rounds. The Alpha pioneering investment model is to partner with companies’ early investors, versus competing with them, and help them continue to invest in their winning portfolio companies.  Alpha selects the best growth stage investments from a deep network of more than 1,000 venture capital firms, and has deployed nearly $200 million into 30 companies to date. Learn more at alphapartners.com.

SOURCE Alpha Partners