Category: MENA

Posted on

MADISON REALTY CAPITAL AND NEWBOND HOLDINGS LAUNCH HOSPITALITY LENDING PLATFORM WITH INVESTING CAPACITY OF $500M

Strategic Partnership to Originate and Purchase Hospitality Loans Across All Major US Markets as Madison Newbond

NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, and Newbond Holdings (Newbond), a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, today announced the launch of Madison Newbond, an institutional lending platform that will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide.  The partnership launched with approximately $500 million of initial lending capacity and will add scale in line with the opportunity.

Madison Newbond will build on Madison Realty Capital’s institutional lending platform and deep relationships as well as Newbond’s hospitality industry expertise and strong operational knowledge. The partnership will offer unique financing programs to new and existing borrowers across the hospitality spectrum from limited-service hotels to ultra-luxury resorts and will target opportunities including transitional lending and ground up developments across major metropolitan markets.

“The hospitality industry has experienced significant disruption throughout the pandemic and there is a clear need for creative and flexible lending solutions for hotel owners as they continue to recover from the changes to their business plans,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are enthusiastic about joining forces with Newbond to expand our product offering tailored to meet the evolving needs of hospitality real estate owners and operators.”

“We are excited to launch this partnership with Madison Realty Capital, a firm with a world-class lending platform, and a team that we are deeply familiar with, to provide a wide range of lending options to the hospitality market,” said Neil Luthra, Founding Partner at Newbond. “Madison’s substantial resources coupled with Newbond’s extensive hotel underwriting capabilities will best position the platform to identify and capitalize on exciting opportunities in the hospitality space.”

Madison Realty Capital and the principals of Newbond have significant experience lending and investing in the hospitality sector.  The principals of Newbond have completed over $15 billion of debt and equity investments.  Notable recent Madison Realty Capital transactions include a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami and a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

For any financing inquiries or to request additional information about the Madison Newbond platform, please contact Andrew Fichte, a partner at Newbond, at [email protected] and Josh Zegen, at [email protected].

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6.7 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $16 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings 

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms.  The partners at Newbond have completed over $15 billion of debt and equity transactions.  As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Attachments

For Madison Realty Capital: Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
[email protected]

For Newbond: Eric Waters
Great Ink Communications, Ltd.
212-741-2977
[email protected]

Tom Nolan
Great Ink Communications, Ltd.
212-741-2977
[email protected]
Posted on

At 2021 Grand Challenges Annual Meeting, Bill & Melinda Gates Foundation Announces Initiatives to Support Cutting-Edge Science in Low- and Middle-Income Countries and Help End the COVID Crisis

The foundation commits initial $50 million towards a new 10-year program and awards science leadership fellowships to 14 African scientists

SEATTLE, Nov. 8, 2021 /PRNewswire/ — Today at the 17th Grand Challenges Annual Meeting, the Bill & Melinda Gates Foundation announced an initial commitment of $50 million to support science and innovation in low- and middle-income countries. The Grand Challenges Global Call to Action is a 10-year initiative that will prioritize grants to scientists from low- and middle-income countries and support a balanced representation of women principal investigators.

This long-term initiative is designed to ensure scientists and institutions in low- and middle-income countries play a central role in shaping the global R&D agenda and developing solutions that can better meet the needs of their communities. Initial focus areas will include data science, such as mathematical modeling to inform national malaria control programs; digital health services for pregnant women; and innovations to close gaps identified by current programs for eliminating neglected tropical diseases.

“We need the ideas and leadership of the people who are closest to the global health challenges we’re working to address,” said Mark Suzman, CEO of the Bill & Melinda Gates Foundation. “The Grand Challenges Global Call to Action represents our commitment to advance innovation and equity while strengthening local partners in a sustainable way.”

At the annual meeting, which takes place November 8-11, the foundation will also launch the Global Immunology and Immune Sequencing for Epidemic Response (GIISER) program, which works to ensure scientists have the capacity to rapidly detect if new SARS-CoV-2 variants in their communities show signs of evading immune response. This will allow national and regional stakeholders to respond appropriately and develop products that meet the specific needs of their geographies. GIISER will operate as a decentralized network of autonomous and geographically distinct hubs that are able to connect local pathogen sequencing data and clinical epidemiology with local immunological understanding and tools. As part of this program, the foundation will provide $7 million over two years to investigative teams in eight countries (South Africa, Senegal, Nigeria, Ghana, Kenya, Uganda, Brazil, and India) to expand their existing immunological capacity.

To further support scientists who are developing the innovations needed to end the pandemic and address urgent global health priorities, the foundation will announce the first cohort of the Calestous Juma Science Leadership Fellowship program on the second day of the meeting (November 9). Named after the late Calestous Juma, one of the world’s foremost visionaries in African-led science, the fellowship was launched at last year’s annual meeting to support the next generation of scientific leaders in Africa. The inaugural cohort includes 14 fellows from eight African countries—eight women and six men—who are leading projects that range from computational drug discovery to molecular epidemiology. Each fellow will receive up to $1 million over five years.

The Grand Challenges Annual Meeting is a global forum for researchers around the world to share their work, learn about cutting-edge advances in the field, and collaborate with other investigators and organizations. As the COVID-19 pandemic continues to drive inequity across the globe, this year’s meeting will focus on strengthening scientific collaborations to end the pandemic everywhere and promoting an inclusive recovery.

The 2021 fully virtual meeting is hosted by Global Grand Challenges partners and co-sponsored by Grand Challenges Canada, the United States Agency for International Development (USAID), Wellcome, the Bill & Melinda Gates Medical Research Institute (Gates MRI), and the Bill & Melinda Gates Foundation. Speakers at this year’s meeting include:

  • Anthony Fauci, Director, National Institute of Allergy and Infectious Diseases
  • Jason S. McLellan, Professor and Robert A. Welch Chair in Chemistry, University of Texas at Austin
  • Matshidiso Moeti, Regional Director for Africa, World Health Organization
  • John Nkengasong, Director, Africa Centres for Disease Control and Prevention
  • Melanie Saville, Director of Vaccine Research and Development, Coalition for Epidemic Preparedness Innovations

The event will feature dozens of leaders from across the global health innovation landscape, as well as Gates Foundation leadership, including Bill Gates (Co-Chair & Trustee); Melinda French Gates (Co-Chair & Trustee); Mark Suzman (Chief Executive Officer); and Trevor Mundel (President, Global Health Division). The sessions will be posted shortly after the meeting at grandchallenges.org/annual-meeting.

About Grand Challenges

The Bill & Melinda Gates Foundation recognizes that solving the most pressing challenges in global health and development requires more of the world’s brightest minds working on them. The Grand Challenges family of initiatives seeks to engage innovators from around the world to solve these challenges. Grand Challenges initiatives are united by their focus on fostering innovation, directing research to where it will have the most impact, and serving those most in need. To learn more, please visit grandchallenges.org.

About the Bill & Melinda Gates Foundation

Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Bill Gates and Melinda French Gates.

Media contact: [email protected]

Posted on

The ALDO Group pursues its commitment towards climate action

The Canadian company is currently participating in the World Climate Summit and has recently renewed its climate neutral certification for the fourth year running.

MONTREAL, Nov. 08, 2021 (GLOBE NEWSWIRE) — Climate issues are more crucial than ever, and the ALDO Group is dedicated to maintaining its commitment to building a low-carbon future. In addition to announcing the renewal of its climate neutral certification for a fourth consecutive year, the company is currently participating in the 11th World Climate Summit in Glasgow, Scotland. A few weeks ago, the Canadian fashion footwear company also joined We Mean Business, an international coalition of more than 600 companies calling upon the leaders of the world’s largest economies to reinforce their climate action objectives during the G20 and COP26 discussions.

“Inspired by the COP21 in Paris 6 years ago, we made a decision in 2018 to become the first climate neutral fashion footwear company. This year’s COP will be a critical meeting – there is massive worldwide support for bold action on climate change. We hope that our participation will contribute in a small way to a very big global challenge,” said David Bensadoun, CEO of the ALDO Group.

World Climate Summit: Rallying the Fashion Industry’s Stakeholders

On November 8 at 10 a.m. (GMT), Jonathan Frankel, Senior Vice-President of APS at the ALDO Group, will join the panel Lead by Example – Harnessing Innovation Towards a Carbon Neutral Fashion & Textile Industry to discuss how the fashion industry can work towards reducing its environmental footprint and how collaboration between manufacturers, designers and consumers is key to reach carbon neutrality.

“The long-term sustainability of the global fashion industry requires systemic change that goes beyond the capabilities of any one company. We cannot fight this problem alone. We strongly believe in collaboration, and that is why we wanted to take part in this unifying event,” said Jonathan Frankel.

Well aware that the fashion industry has an impact on global warming, the ALDO Group intensified its climate actions in recent years. The organization is also a member of multi-stakeholder associations that promote partnerships for concerted industry-wide actions, such as the Sustainable Apparel Coalition (SAC), the Fashion Pact and the United Nations Fashion Industry Charter for Climate Action (UNFCCC).

The ALDO Group’s Journey Towards Reducing Its Carbon Footprint

In 2018, the ALDO Group became the first fashion footwear and accessories company in the world to be certified climate neutral for its corporate stores, offices and distribution centres. The organization then reinforced its environmental commitment by also having eCommerce shipments and product transportation certified climate neutral.

In 2020, the company reduced carbon emissions from its operations by 74% compared to 2013. This year, it carried forward its sustainability journey by continuing to reduce its net emissions and compensating the unavoidable ones through a combination of nature-based forest conservation and clean energy projects. And for the fourth consecutive year, the ALDO Group has received its climate neutral company certification from the South Pole Group – a leading provider of global sustainability solutions and services with a transparent and rigorous certification process.

“It’s very exciting to see the ALDO Group continuing to make progress on climate action. The company has demonstrated industry leadership and we congratulate them on their commitments and ever-increasing ambition,” said Renat Heuberger, CEO and co-founder of South Pole.

Having achieved significant reductions for its operations’ emissions, the ALDO Group has been addressing other important issues: from waste management to its positive impact on local communities, from teaming up with partners to improve their social and environmental footprint to promoting diversity and inclusion. In terms of products, the company aims to continue introducing more innovative low impact materials in its collections and to increase its use of recycled materials, such as polyester. The company is also working to decarbonize it supply chain by working closely with its suppliers.

It is also important to remember that in 2019, the ALDO Group joined the Science Based Targets Initiative (SBTi). Its GHG reduction targets are therefore in line with climate science.

Member of the We Mean Business Coalition

Recognizing the need for collective climate action, the ALDO Group signed the We Mean Business coalition’s open letter earlier this month. Ahead of the crucial G20 and COP 26 summits, more than 600 companies from around the world called on the leaders of the world’s largest economies to do their utmost to limit global temperature rise to 1.5 °C and to reinforce their objectives. The signatories represent sectors ranging from energy and transportation to fashion and construction.

To read the letter and consult the list of companies who signed it, please visit https://www.wemeanbusinesscoalition.org/g20-2021/#letter-block.

For more information about the ALDO Group’s commitment to sustainability, please visit https://responsibility.aldogroup.com/.

About the ALDO Group
The ALDO Group is a world-leading creator and operator of desirable footwear and accessory brands. With a presence in over 100 countries around the world, the organization operates under two signature brands, ALDO and Call It Spring, and a multi-brand retail concept, GLOBO. The ALDO Group is also an industry-recognized wholesale distributor and third party sourcing provider of fashion footwear, handbags and accessories. In addition to its head office in Montreal, the ALDO Group has international offices in Europe and in Asia. Guided on a daily basis by its purpose A journey to create a world of love, confidence, and belonging, the ALDO Group is simply unique. For more information, visit www.aldogroup.com.

Media Contact:
[email protected]

Posted on

Melissa Hammerle Appointed President of Intelex Technologies

Hammerle will be responsible for the formation and execution of Intelex’s strategy as it delivers safer, cleaner and more efficient operations for our customers.

Toronto, Canada, Nov. 05, 2021 (GLOBE NEWSWIRE) — Intelex Technologies, ULC, a leading global provider of cloud-based Environmental, Health, Safety and Quality (EHSQ) management software, today announced the appointment of Melissa Hammerle to the role of president of the organization.

“I’m excited to bring Melissa’s deep continuous improvement experience and leadership to the Intelex team. Melissa will be a key driver as we work to help customers drive EHS and ESG performance to levels previously unimaginable,” said Justin McElhattan, Group President of EHS businesses for Intelex parent company Fortive.

Hammerle brings experience driving growth, customer retention and innovation through leadership roles in general management, product, marketing, sales, customer success and the Fortive Business System (FBS). She has led teams to co-create cultures with high engagement, ownership and customer centricity across a range of businesses, from startups to large scale enterprises.

“I’m thrilled to join the Intelex team,” said Hammerle. “We have a profoundly impactful mission and a once-in-a-lifetime growth opportunity as investors, business leaders and customers raise the bar on the practices of EHSQ and help our customers achieve their Environment, Social and Governance (ESG) goals.”

Hammerle joins Intelex from Accruent, where, as the Commercial President, she and her team built new sales and marketing growth engines to sustainably deliver software bookings. Previously, she led the team that created Fluke’s first Internet of Things business to serve customer maintenance workflows, accelerated strategic initiatives across Fortive as the FBS Director of Growth, and delivered strong revenue and employee engagement as the VP & GM of Fluke Calibration.

Prior to joining Fortive, Hammerle served as a Captain in the U.S. Army, where she led a company in Iraq.

She earned an MBA from Harvard University and an BA in Economics from Dartmouth College.

About Intelex Technologies, ULC
Intelex Technologies, ULC is a global leader in environmental, health, safety and quality (EHSQ) management software. Since 1992, Intelex employees across the globe have been committed to innovating and enabling organizations to send their employees home safely every day, leaving behind a more sustainable world to the generations that follow, and manage quality so that only the safest and highest quality products make it to market. Intelex’s scalable, web-based platform and applications have helped clients across all industries improve business performance, mitigate organization-wide risk, and ensure sustained compliance with internationally accepted standards (e.g. ISO 9001, ISO 14001, ISO 45001, and OSHAS 18001) and regulatory requirements. Almost 1,400 customers in 195 countries trust Intelex to power their EHSQ initiatives. Headquartered in Toronto with regional offices and employees around the world, Intelex became an Industrial Scientific company in 2019. In 2020, Intelex acquired ehsAI, provider of a SaaS-based next-wave compliance automation solution that leverages artificial intelligence and machine learning algorithms. For more information about Intelex, visit www.intelex.com.

Attachment

Sandy Smith, Head of Global Content Marketing
Intelex Technologies, ULC
+1 216-375-0484
[email protected]

Posted on

LONGi issues its first White Paper on Climate Action at COP26 summit

XI’AN, China, Nov. 5, 2021 /PRNewswire/ — LONGi founder and president Li Zhenguo has participated in a special company activity at COP26 in Glasgow via online video, outlining LONGi’s “Commitment and Action to Address Climate Change” and releasing the company’s first White Paper on Climate Action at the China Corporate Pavilion.

LONGi founder and president Li Zhenguo has participated in a special company activity at COP26 in Glasgow via online video, outlining LONGi’s “Commitment and Action to Address Climate Change” and releasing the company’s first White Paper on Climate Action at the China Corporate Pavilion.

In 2020, LONGi joined the RE100, EV100 and EP100 in succession, becoming the first Chinese company to join all three initiatives of the Climate Group at the same time. LONGi also joined the Science Based Target initiative (SBTi) in the same year in response to a CDP climate change questionnaire, which opened the way for the company’s involvement in Climate Action.

According to its white paper, LONGi is actively fulfilling its commitments and promoting the implementation of the four international initiatives. The company has completed the accounting and verification of greenhouse gas emissions across its entire value chain for the first time, with the proportion of renewable electricity used in 2020 reaching 41.83%, the equivalent of reducing carbon dioxide emissions by 1.35 million tons.

LONGi’s five manufacturing plants in Yunnan Province have in the meantime achieved 100% use of renewable electricity. In accordance with SBTi standards, the company has also submitted its own emission reduction targets for the first time – based on 2020 figures, greenhouse gas emissions within the scope of operation in 2030 will be reduced by 60% and carbon emission intensity per ton of silicon material, per watt of cell and per ton of glass will be reduced by 20%.

LONGi Solar Logo (PRNewsfoto/LONGi Solar)

“LONGi’s philosophy on Climate Action corresponds to the four initiatives, which every company must follow, and the advanced presentation of this can be a demonstration and example for the entire renewable energy industry. In the future, the overall thinking behind LONGi’s Climate Action will be to refer to the SBTi in order to set emission reduction targets and integrate the promotion of the RE100, EP100 and EV100 initiatives.” Li believes that the road to “Net-zero LONGi” will be long and difficult, but the company hopes to use its own actions to show the outside world a successful demonstration of “manufacturing clean energy products using 100% clean energy”. The company also looks forward to working with more partners and stakeholders, especially upstream and downstream organisations in the supply chain, to promote global energy transformation, also working with customers from all walks of life to jointly realize the vision of harmonious coexistence between mankind and nature.

The COP26 summit is the first meeting of the parties since the Paris agreement entered the implementation stage.

“In the face of an imminent climate crisis, the Paris agreement pointed out the actions necessary for a global green and low-carbon transition, and these are still our guidelines for protecting the earth,” Li added.

Over the past 10 years, China’s photovoltaic industry has made significant progress, enabling people to use renewable energy at a cheaper price, with the “Photovoltaic + Energy Storage + Green Hydrogen” model gradually becoming a powerful weapon against climate change.

Glasgow is the third consecutive COP at which LONGi has participated. At COP24 in 2018, LONGi released its “Solar for Solar” sustainable development concept of manufacturing photovoltaic products driven by photovoltaic power generation, with COP25 in 2019 seeing the release of the company’s “China PV Outlook 2050” report.

LONGi’s ‘special activity’ at COP26 saw guests invited from the Climate Department of the Ministry of Ecology and Environment of China, the British Energy Transition Commission (ETC), the British Embassy in China, the All-China Federation of Industry and Commerce, Vanke Foundation and the Tencent Company, for in-depth discussion on the actions required of corporate entities to actively respond to climate change.

Find out more about the white paper: https://en.longi.com/uploadfile/3/2021/Climate-Actions-of-LONGi-2021.pdf

Photo – https://mma.prnewswire.com/media/1679600/LONGi_founder_president_Li_Zhenguo_participated_a_special_company_activity.jpg
Logo – https://mma.prnewswire.com/media/781516/LONGi_Solar_Logo.jpg

Posted on

Synchronoss Personal Cloud Solution Selected by Telkomsel to Bolster Digital Services Offering

New partnership will allow Indonesian mobile operator to bring personal cloud services to a market of more than 170 million subscribers

BRIDGEWATER, N.J., Nov. 04, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, today announced it would supply its personal cloud solution to Telkomsel, Indonesia’s largest mobile operator. The addition of the Synchronoss Personal Cloud solution will give Telkomsel’s subscribers the ability to back up and manage their valuable digital content, including photos and videos, from any device.

The white-label Synchronoss Personal Cloud solution—branded “Floudrive” and managed by Telkomsigma—will be made available to Telkomsel’s 170 million subscribers as a premium feature. Subscribers will be able to choose between two different storage tiers and enjoy an initial free 30-day period. The solution gives subscribers a reliable and intuitive cloud storage experience, with the ability to backup and sync digital content, while also introducing advanced tagging and search capabilities.

“We are excited to be partnering with Synchronoss to integrate its personal cloud solutions into our consumer channel,” said Tanto Suratno, Director of Business and Sales, Telkomsigma. “Having outgrown our existing personal cloud offering, now is the perfect time to embrace this opportunity and provide our subscribers with an advanced solution that meets their evolving needs. We look forward to enabling our customers to optimize and manage their precious digital content, and to protect and store it safely and securely. As well as benefiting our customers, this partnership also represents the next step as we move towards offering more digital services.”

The solution will be delivered through Synchronoss’ agreement with Telkomsigma, the IT Services and Data Center arm of Telkomsel and Telkomsigma’s parent company, Telkom Indonesia. Unlike other cloud solutions on the market, the Synchronoss-powered personal cloud allows subscriber data to be stored in-country, a critical requirement for Telkomsel to adhere to Indonesian law.

Anthony Socci, President and General Manager, APAC for Synchronoss, said he is delighted to be working with Telkomsel on its new cloud offering. “As a private cloud solution provider, we are always looking for ways to support telecom partners in their mission to deliver more varied and advanced digital services to their subscribers. This cloud solution will be instrumental to Telkomsel as it facilitates a more integrated experience and promotes a safer handling of personal assets,” he said. “This deal builds on the success we have already experienced with Telkomsigma that impressed and inspired Telkomsel to deliver similar offerings to their mobile subscribers. It will also create greater synergies between the two organizations within the group.”

To learn more about Synchronoss cloud solutions, visit synchronoss.com/solutions/cloud.

About Synchronoss
Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.

Media Contacts

For Synchronoss:
Anais Merlin,
CCgroup,
E: [email protected]

Investor Contact
For Synchronoss: Todd Kehrli/Joo-Hun Kim, MKR Investor Relations, Inc., E: [email protected]