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NHIT Hosts Health Equity Series and Announces New Board Members at @ ViVE 2023

by DailyBriefers March 29, 2023
written by DailyBriefers

Advancing Health Equity Together: Public Sector Leadership

“NHIT is proud to include the leadership and commitment of these outstanding industry professionals to it’s board. As we celebrate our 15th anniversary this year, their support will be essential to further advance our efforts to address the needs of marginalized communities.” Luis Belen, CEO of NHIT

WASHINGTON (PRWEB) March 29, 2023

The National Health IT Collaborative for the Underserved (NHIT), the first and oldest national non-profit focused on equitable access to health technology for underserved communities and communities of color, announced its new board of directors today at the ViVE 2023 conference in Nashville, TN.

NHIT hosted a Health Equity Series @ ViVE which brought together global tech leaders, clinicians, elected officials, policymakers, and key partners to deliver this dynamic track of action-oriented programming designed exclusively to support and sustain health equity and economic viability — based on NHIT’s five strategic pillars: Workforce, Innovation, Policy, Research, and Community.

NHIT welcomes the following highly respected experts in the fields of healthcare and technology to its board:

  • Fadesola Adetosoye, Expert Associate Partner, McKinsey & Company
  • Elizabeth Phillips Boudreau, International Head of Healthcare Workforce Development, AWS
  • Donna Christensen, MD, Former Congresswoman, US Virgin Islands
  • Adam Glasofer, MD, Global Head of Healthcare & Public Sector Venture Capital and Startups, AWS
  • Michael Jackson, VP, Industry Strategy & Solutions, DocuSign
  • Mark Johnson, MD Professor & Chair, Howard University College of Medicine
  • Meera Kanhouwa, MD, MHA, FACEP, Director, Global Healthcare and Life Sciences, ProServe AWS
  • April Mims, Senior Vice President of Public Policy, Hims & Hers
  • Fatima Paruk, MD, MPH, Chief Medical Officer, SalesForce
  • Elizabeth “Liz” Simonhoff Perez, Senior Director, TracFone

“NHIT is proud to include the leadership and commitment of these outstanding industry professionals to its board. As we celebrate our 15th anniversary this year, their support will be essential to further advance our efforts to address the needs of marginalized communities. We urge our national network of industry leaders and experts to embrace a collaborative approach driven by community voices. NHIT will continue to bring underserved communities, industry, and policymakers together to share ideas, resources, and human capital to empower and uplift both underserved communities and the community-driven organizations that represent them,” stated Luis Belen, CEO of NHIT.

He added, “COVID proved at scale that telehealth and precision medicine are both viable and sorely needed in our communities. Our focus now is to work quickly and collaboratively to maintain and expand those programs. We are honored to be the trusted organization for our allies working at the intersection of health IT, infrastructure development, workforce development, and health equity. I am excited about the prospects of our organization and our life saving work. The future is bright.”

In addition, Dr. Chris Gibbons will step in as Interim Executive Director of NHIT effective immediately while Mr. Belen takes a more limited role for the next six months to address health issues.

Gibbons is Founder and CEO of The Greystone Group, Inc and was involved in the creation of NHIT in 2008. He is intimately familiar with the organization and its key stakeholders. NHIT’s activities and events will continue uninterrupted during Mr. Belen’s absence.

NHIT will commemorate its 15th anniversary with exciting initiatives highlighting their work with the Biden-Harris White House, the United States Congress, and the private and nonprofit sectors.

“Luis has been a dedicated and stalwart leader who has taken NHIT to sustainable success over the years,” stated Dr. Chris Gibbons, NHIT Interim Executive Director.

He continued, “I am committed to continuing Luis’ great work until he returns soon with the same zeal and dedication he has always demonstrated. Under Luis’ leadership, NHIT has established new partnerships, programs, and recruited new board members and institutional partners. With the help of its partners, NHIT has built the premier platform for Social Determinants of Health (SDoH) data and analytics available today. The Data Fusion Center is a valuable resource that can enhance the value of any organization’s work to improve the health of underserved populations. NHIT is on solid ground for success and to help others be successful in the future.”

For any day-to-day business questions, contact Dr. Gibbons (CGibbons@NHIT.org). For community or stakeholder engagement questions, contact Javier Cuebas (JCuebas@NHIT.org). For any media inquiries, contact Danny Vargas (PR@varcom.com).

About NHIT:
NHIT is a 501(c)3 non-profit organization on a mission to provide equitable access to health technologies and to make sure that these technologies address the needs of underserved communities and communities of color. Since its founding in 2008, NHIT has worked to advance health equity and economic viability on issues such as broadband access, electronic health records, precision medicine, consumer health applications and disaster resiliency. NHIT has collaborated with Amazon Web Services (AWS), and Tyler Technologies to launch the NHIT Data Fusion Center, to tackle and translate social determinants of health (SDoH) data into actionable insights. For more information, visit NHIT.org.

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SARTORIUS AG: Alexandra Gatzemeyer joins Executive Board of Sartorius to lead the Lab Products & Services division

by DailyBriefers March 29, 2023
written by DailyBriefers

Alexandra Gatzemeyer joins Executive Board of Sartorius to lead the Lab Products & Services division

At today’s meeting, the Supervisory Board of Sartorius AG appointed Alexandra Gatzemeyer, Ph.D., as Member of the Executive Board, effective May 1, 2023. From June 16, 2023, Alexandra Gatzemeyer will succeed Gerry Mackay, Board Member and Head of the Lab Products & Services division, who will hand over duties in the course of May and June to ensure a smooth transition at the helm of this division. After stepping down as Executive Board member as of June 16, 2023, Gerry Mackay will continue to support Sartorius in various cross-divisional tasks and initiatives.

Alexandra Gatzemeyer currently leads the LPS Sales & Services organization at Sartorius . During her more than 18 years tenure with the company, she served in various senior leadership roles including Product Management, Human Resources Management, and as Managing Director of a country organization. Alexandra holds a Ph.D. in pharmaceutical chemistry and pharmacology from the St. Petersburg State Chemical and Pharmaceutical University.

Dr. Lothar Kappich, Chairman of the Supervisory Board of Sartorius AG, thanked Gerry Mackay and welcomed Alexandra Gatzemeyer on behalf of the Board. „Our lab business has evolved tremendously under Gerry Mackay’s leadership. During the past four years he has executed the strategic repositioning of the division towards the life science market, integrated more than a handful of acquisitions, substantially advanced its sales and marketing capabilities while boosting profitability. When extending his contract in 2021, Gerry had already signaled to be available for two more years only,” said Lothar Kappich. “At the same time, we would like to warmly welcome Alexandra, an internationally experienced and successful manager from our own ranks, to join the Executive Board. Backed by her passion for customers and people Alexandra will further push the division’s strategic and operational path towards becoming a leading partner for innovative solutions for life science research.“

From June 16, 2023, the Sartorius Executive Board will thus consist of the four following members:
Dr. Joachim Kreuzburg, Chairman and CEO; Dr. René Fáber, Head of Bioprocess Solutions; Alexandra Gatzemeyer, Head of Lab Products & Services; and Rainer Lehmann, Chief Financial Officer.

This press release contains forward-looking statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language release. Sartorius shall not assume any liability for the correctness of this translation. The original German release is the legally binding version.

A profile of Sartorius
The Sartorius Group is a leading international partner of life sciences research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group’s Lab Products & Services division focuses on laboratories performing research and quality control at pharmaceutical and biopharmaceutical companies as well as academic research institutes. The Bioprocess Solutions division, with its broad product portfolio focusing on single-use solutions, helps customers manufacture biotech medications and vaccines safely, rapidly and economically. The company based in Goettingen, Germany, has a strong global reach with around 60 production and sales sites worldwide. Sartorius delivers significant organic growth and regularly expands its portfolio through the acquisition of complementary technologies. In fiscal 2022, the company generated sales revenue of around 4.2 billion euros. At the end of 2022, around 16,000 employees were working for customers around the globe.

Contact
Petra Kirchhoff
Head of Corporate Communications & Investor Relations
+49 (0)551 308 1686
petra.kirchhoff@sartorius.com

Follow Sartorius on Twitter and LinkedIn.

March 29, 2023 4 comments
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Women making case in tourney for own March Madness TV deal

by DailyBriefers March 29, 2023
written by DailyBriefers
DOUG FEINBERG
Associated Press

Women’s basketball seems to have found a winner with its new Sweet 16 format in March Madness and the timing couldn’t be better with looming TV contract negotiations on the horizon.

There were record-setting attendance at the two sites — Greenville, South Carolina and Seattle — along with record numbers for TV ratings. It fueled the momentum heading into a star-packed Final Four lineup in Dallas.

NCAA selection committee chair Lisa Peterson expects the format success to help in upcoming contract negotiations. The current NCAA TV deal ends next summer.

“It has to,” she said. “I’m very much looking forward to seeing those conversations. It only can be good for the game. People are talking about it.”

TV ratings for games on Friday and Saturday averaged 1.2 million viewers, a 73% increase over last year. Saturday afternoon’s Ohio State and UConn matchup on ABC was the most watched women’s Sweet 16 game on record with an average of 2.4 million.

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Ratings were also up for the games Sunday and Monday on ESPN — up 43% gain and averaged 2.2 million. Sunday night’s Iowa-Louisville contest which featured dynamic guard Caitlin Clark led the way at 2.5 million, making it the most watched Elite Eight game on record.

Tag Garson, Wasserman’s senior vice president of properties, said this year’s ratings will be one of many pieces that factor into what path the NCAA will take.

“When you’re looking at how ratings are performing as you’re preparing for a negotiation you don’t just look at one year,” he said. “You’re looking at the historical value while projecting out the future value.”

The NCAA is expected to decide by this fall whether to separate the women’s tournament or keep it as part of the championships TV package that includes at least 24 sports.

Peterson and her group will have a lot to review.

Arenas in Greenville and Seattle were mostly full which created an entertaining atmosphere. While attendance was expected to be high in Greenville with the undefeated Gamecocks there. the closest team to Seattle was Colorado — 1,300 miles away.

The distance didn’t stop fans from flocking to Seattle, with strong support from basketball fans around the city thanks in part to the success of the WNBA’s Storm over the last two decades. In the end, the Seattle region outdrew its South Carolina counterpart by a few thousand. Overall 82,275 fans took in the Sweet 16 and Elite Eight games, including 43,556 in Seattle.

“It really was a great atmosphere to play in. You love to play in these kind of atmospheres with this kind of crowd and play in a great building like this,” said UConn coach Geno Auriemma whose team played in Seattle.

The NCAA also hopes the success leads to more cities bidding to host the regional games and eventually the Final Four.

“The number of cities that had bid (in the past), we didn’t have that many more options,” Peterson said. “With the success we’ve had hopefully it opens up new doors so we don’t keep going to the same cities.”

The local organizing committee in Seattle said that they expected the tournament to generate more than $8.3 million to the city.

“When we host events like this there’s no playbook to say it’s a guaranteed success,” Seattle Mayor Bruce Harrell told The Associated Press. “You don’t know how the fans are going to come out, but what has been proven time and time again, particularly around women’s sports is that they come from all over the state even come from Canada. … The revenue is incredible for our tax base.”

Harrell threw Seattle’s hat in the ring for a future women’s Final Four, saying he would love it if his city got that opportunity.

One of the next steps the NCAA is planning for upcoming two regional sites is to turn them into “mini Final Fours.”

Many fans seemed to enjoy the new format going to more than just their team’s games. Dave Lichliter, who is from Pennsylvania, went to games both Friday and Saturday and enjoyed the expanded field.

“You get to see more teams,” said Lichliter, who was wearing an LSU championship football shirt from 2019. “Next year is Albany (New York) and Portland (Oregon), so we’ll see how that goes.”

So will the NCAA.

The two-city format will be in place at least another three years. The next bid cycle starts in July where regional hosting will be decided from 2027-31.

“We’re doing this for three years. It’s not a permanent deal,” Peterson said. “As always we’ll evaluate it. If we feel it doesn’t work, we’ll see what we need to do to change it. Whether it’s changing formats, or if that’s adding a day, Whatever that looks like, we’ll keep looking at it.”

There were a few logistical bumps with the two sites.

With eight schools at one venue required some adjustments by teams and arena staffs. Practice time on the court was cut from 90 minutes to 60 to allow all eight time on the court. It also required a little more coordination when it came to the locker rooms with teams having to double up.

But none of it seem to bother the players. Some said it felt like an AAU tournament from their younger days with so many teams in the same place.

“I think it’s fun. I think it’s cool,” said Clark, before he Hawkeyes guard added: “Obviously we’re not going to be coming to all the games, that’s just not really how it works, but I think I like the two regional sites.”

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Tyra Biosciences to Participate in Upcoming Investor Conferences

by DailyBriefers March 29, 2023
written by DailyBriefers

CARLSBAD, Calif., March 29, 2023 /PRNewswire/ — Tyra Biosciences, Inc. (Nasdaq: TYRA), a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology, today announced that management will present and participate in the following investor conferences:

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Scivita Medical Enters into Strategic Agreement with Boston Scientific in China

by DailyBriefers March 29, 2023
written by DailyBriefers

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29.03.2023 – 20:43

Scivita Medical

SUZHOU, CHINA, March 29, 2023 (Reuters) /PRNewswire/

The medical technology company Scivita Medical Technology Co., Ltd. (“Medical Citizenship”) and Boston Scientific (NYSE: BSX), one of the world‘s leading medical technology companies, officially have one Strategic agreement signed for Scivita’s single-use percutaneous choledochoscope. As part of this business collaboration and distribution agreement, Scivita Medical and Boston Scientific plan to establish a long-term partnership to commercialize, market and promote Scivita’s disposable percutaneous choledochoscope in China.

This collaboration further advances market penetration of the single-use percutaneous choledochoscope as part of Scivita Medical’s comprehensive product offering of reusable endoscopes, single-use videoscopes and related systems and equipment. Through the strong alliance with Boston Scientific, the penetration rate of the disposable percutaneous choledochoscope in China is expected to increase, thereby benefiting more hospitals and patients.

Scivita Medical stated, “Thank you to Boston Scientific for recognizing Scivita Medical. This is another important initiative for Scivita Medical in realizing its vision of becoming a global company and another milestone following the strategic collaboration with Fujifilm for the European market. I believe this strategic collaboration with some of the world‘s leading medical technology companies and our company will accelerate the process of bringing China‘s medical innovations to the world.”

The global market for single-use videoscopes is also growing rapidly as a result of growing demands to mitigate the risks of cross-contamination and hospital-acquired diseases, especially amid the outbreak of the COVID-19 pandemic. According to Frost & Sullivan, the global market value of disposable videoscopes was $0.5 billion in 2020 and is estimated to grow to $9.2 billion by 2030. Scivita Medical’s disposable videoscopes are used in various clinical departments where there is a high risk of cross-infection, such as: B. in gynaecology, respiratory medicine, urological surgery and hepatobiliary surgery. Many of the company’s products have already been approved in China, the United States, the European Union (EU), Japan and other countries and regions.

The collaboration can be seen as a strong sign of Scivita Medical’s comprehensive product line of reusable endoscopes, single-use videoscopes and related systems and equipment, further accelerating their commercialization and market penetration in the single-use videoscope space. Going forward, Scivita Medical will continue to innovate, improve market penetration by offering unique products, and strive to become the brand of choice for physicians and patients worldwide.

About Scivita Medical

Founded in 2016, Scivita Medical is a medical technology company that provides minimally invasive diagnostic and treatment solutions and focuses on the research, development and commercialization of medical endoscopes and related products. Scivita Medical has made “globalization” its core strategy and established R&D centers in China and Japan. With solid in-house R&D capabilities, Scivita Medical has established a unique technology platform built on five synergistic core technologies and a comprehensive portfolio of endoscope products and therapeutic products for all types of endoscopy procedures performed by different clinical departments to meet different medical needs.Scivita Medical adheres to the values ​​of “Clinical Focus”, “Shared Innovation”, “People-Focused”, “Excellence and efficiency” and will continuously improve its core technologies, increase market penetration with excellent products and strive to be the preferred brand trusted by doctors and patients around the world.

For more information, visit: scivitamedical.com/#/

Photo – https://mma.prnewswire.com/media/2043103/Signing_ceremony.jpg

Photo – https://mma.prnewswire.com/media/2043104/Single_Use_Percutaneous_Choledochoscope.jpg

Photo – https://mma.prnewswire.com/media/2043105/1.jpg

View original content: https://www.prnewswire.com/news-releases/scivita-medical-schlieWt-strategische-vereinbarung-mit-boston-scientific-in-china-ab-301785064.html

Press contact:

Ting Wang,
[email protected],
+86-512-8187 7788

Original content from: Scivita Medical, transmitted by news aktuell

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March 29, 2023 0 comment
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Boehringer’s profit up as Jardiance gains offset higher costs

by DailyBriefers March 29, 2023
written by DailyBriefers

FRANKFURT (Reuters) -German unlisted drugmaker Boehringer Ingelheim said on Wednesday its operating income rose 1.4% in 2022, as more prescriptions of diabetes drug Jardiance trumped higher energy and development costs.

Family-owned Boehringer said in its annual report that full-year operating income came in at 4.77 billion euros ($5.17 billion), up from 4.71 billion a year earlier.

The Jardiance group of products, managed in a partnership with Eli Lilly, made 5.8 billion euros in sales, a currency-adjusted surge of 39.1%.

The diabetes treatment is increasingly used to cut the risk of cardiovascular disease in diabetic patients and it also won approval as a treatment for heart failure early in 2022.

Apart from higher material and energy costs, earnings growth was tempered by expenses for large clinical trials and write-downs on development projects.

“The strong business results are laying the foundation for the funding of our late-stage pipeline, of mid-term growth opportunities and of further investment in new technologies,” said the group’s finance chief Michael Schmelmer.

Boehringer and Lilly said last November that Jardiance was shown to also slow the progression of chronic kidney disease, as the partners seek to catch up with market segment leader AstraZeneca with its kidney drug Farxiga.

Sales of pulmonary fibrosis drug Ofev rose a currency-adjusted 20.6% to 3.2 billion euros, Boehringer said.

For 2023, Boehringer predicted a slight increase in operating income.

($1 = 0.9232 euros)

(Reporting by Ludwig Burger and Patricia WeissEditing by Louise Heavens and Mark Potter)

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East West Bancorp, Inc. Earns #1 Spot in S&P Global Market Intelligence Ranking

by DailyBriefers March 29, 2023
written by DailyBriefers

East West Bancorp, Inc. Earns #1 Spot in S&P Global Market Intelligence Ranking

S&P Global Market Intelligence Ranks East West Bancorp Inc. Best Performing U.S. Public Bank in 2022

PASADENA, Calif.–(BUSINESS WIRE)–
East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, announced it has earned the number one spot in the 2022 Ranking of U.S. Public Banks by Financial Performance. This annual analysis by S&P Global Market Intelligence assesses the financial performance of publicly held banks with more than $10 billion in assets across the nation.

S&P Global Market Intelligence first launched the annual rankings list in 2011 to assess the performance of banks based on returns, growth and efficiency, and places a premium on the strength and risk profile of balance sheets. East West secured the top spot in 2022, outperforming the industry on the combined metrics.

“We are honored to be named the top public bank in the United States by S&P Global Market Intelligence,” said East West Bancorp Inc. Chairman and CEO Dominic Ng. “As the bank celebrates its 50th anniversary in 2023, this achievement serves as a reminder of our continued legacy of remaining steadfast amid volatile market conditions. I remain grateful to our over 500,000 customers who continue to put their trust in us.”

East West’s conservatively managed balance sheet, strong capital and liquidity levels form a solid and stable foundation. These strengths, along with our diversified customer base and business model, allow us to have industry-leading profitability and high-quality earnings year after year. We look beyond our fifty years of history with the commitment to helping our customers build new bridges of opportunity and reach further. For more information or to set up a press interview, please contact [email protected].

About East West

East West Bancorp, Inc. is a public company with total assets of $64.1 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, operating over 120 locations in the United States and in Asia. The Company’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington. For more information on East West, visit the Company’s website at www.eastwestbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005862/en/

Janie Beaman

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Banking Asset Management Professional Services Finance

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Westinghouse Reinforces its Commitment to Energy Security in Czech Republic

by DailyBriefers March 29, 2023
written by DailyBriefers
March 29, 2023
by WebSupport@BusinessWire.com

PRAGUE–(BUSINESS WIRE)–Westinghouse Electric Company and CEZ signed an agreement to supply VVER-440 fuel assemblies at the Dukovany Power Plants. Westinghouse will deliver fuel beginning in 2024, replacing the current supplier, with an anticipated term of seven years.


This important contract builds on the long-standing partnership between the two companies and a recent agreement to provide modified Robust Westinghouse Fuel Assemblies (RWFA) for the Temelin nuclear power plant.

“Our focus is not only the safety of our nuclear power plants, but also the energy safety of the entire Czech Republic. That´s why the contract with Westinghouse is very important. Thanks to the widening of the number of possible suppliers, we are strengthening our energy independence and the certainty of further operation of our sources,” said Bohdan Zronek, a member of the Board of Directors at CEZ and Director of the Nuclear Energy Division.

“We are grateful for CEZ Group’s confidence in Westinghouse and remain fully committed to supporting its policy of supply diversification,” said Tarik Choho, President, Westinghouse Nuclear Fuel. “Westinghouse is delivering a true alternative with a proven fuel design for the VVER plants, and we look forward to reinforcing our long-term collaboration with CEZ.”

Westinghouse is deeply committed to helping the Czech Republic and other countries achieve the goal of a cleaner, more secure energy future. The company has been working for more than a decade to supply VVER-type reactors.

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world’s operating nuclear plants. Over 135 years of innovation make Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn, and Twitter.

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Energy Efficiency Leader Scott Avirett Joins Budderfly as Chief Operating Officer

by DailyBriefers March 29, 2023
written by DailyBriefers

Avirett brings 20 years of energy efficiency expertise to Budderfly as Chief Operating Officer

SHELTON, Conn.–(BUSINESS WIRE)– Budderfly, the premier sustainability partner for businesses with repeatable footprints, recently announced that energy services leader Scott Avirett has joined the company as Chief Operating Officer (COO). Avirett will lead the development and implementation of an integrated customer experience and delivery strategy to ensure operational excellence and meet rapidly growing demand for Budderfly’s sustainability services across North America.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230329005131/en/

Scott Avirett brings 20 years of energy efficiency expertise to Budderfly as Chief Operating Officer (Photo: Business Wire)

Scott Avirett brings 20 years of energy efficiency expertise to Budderfly as Chief Operating Officer (Photo: Business Wire)

Avirett brings two decades of global experience in sustainable energy & infrastructure operations and general management to Budderfly. He previously built and led high-performance teams at Johnson Controls and Energy Systems Group (ESG), a subsidiary of CenterPoint Energy, in delivering breakthrough results in customer satisfaction, sales growth and profitability in all aspects of the energy services market.

“I’m thrilled to join Budderfly’s rapidly growing team and help scale its unique Energy Efficiency as a Service model as a force for mid-market energy transformation and emissions reduction. I look forward to building on the company’s people-first culture and creating exceptional experiences for its customers, by delivering lower energy costs, a reduced carbon footprint, and more reliable operations,” said Avirett.

“Our significant expansion and market leadership position show no signs of slowing. This requires a continual balance of internal knowledge and strengths with external experience and capabilities to increase scale and depth across the entire company,” said Budderfly CEO Al Subbloie. “We’re pleased to have Scott Avirett as our COO to enhance our customer foundation for growth and scale.”

Budderfly’s solutions are provided at zero upfront cost to the customer. Cost savings are generated from the energy efficiency upgrades, as well as from managing, monitoring, and optimizing Budderfly customers’ energy use and demand.

About Budderfly

Budderfly, ranked as one of the fastest-growing Energy Efficiency as a Service (EEaaS) companies in the United States, is the premier sustainability partner for businesses with repeatable footprints, such as restaurant chains, assisted living facilities, retail franchises, and more. Budderfly installs, monitors, and manages a combination of patented technologies, equipment upgrades, and proprietary energy software for its customers at no out-of-pocket cost. Businesses benefit with lower energy bills, a reduced carbon footprint, more reliable operations, and an improved customer and employee experience. Budderfly ranked #2 in energy companies and #10 overall on the 2021 Inc. 5000 America’s Fastest-Growing Private Companies list. For more information visit www.budderfly.com or follow us on Twitter @BudderflyEnergy.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005131/en/

Media

Tori Bentkover

Antenna Group for Budderfly

budderfly@antennagroup.com

Source: Budderfly

March 29, 2023 0 comment
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News

Canada offers C$35 billion green tax credits but still trails generous US incentives

by DailyBriefers March 29, 2023
written by DailyBriefers

OTTAWA, March 29 (Reuters) – Canada’s 2023 budget took a big step toward luring more investment in clean technology to build a low-carbon economy, analysts said on Wednesday, but gaps must still be filled to make the country more competitive with the United States.

Liberal Prime Minister Justin Trudeau’s government unveiled on Tuesday a series of new green investment tax credits worth some C$35 billion ($26 billion) on Tuesday, including almost C$26 billion for producing and transmitting electricity.

“Given the role that electricity is going to play in the decarbonisation of the Canadian economy, this is probably the most important federal budget ever for addressing climate change,” said Francis Bradley, the chief executive of trade association Electricity Canada.

Before the budget, Canada was “in neutral”, Bradley said. “This puts us right up into second gear.”

Trudeau’s government has been under pressure to level the playing field with its largest trading partner since Washington passed massive uncapped incentives for clean energy investments in the Inflation Reduction Act (IRA) last year.

While the budget makes headway on the green transition, it does not put the kind of money on the table the United States has, said Michael Bernstein, executive director of climate think-tank Clean Prosperity. The IRA could offer more than $1 trillion to clean tech investors there.

Canada’s investment tax credits help companies make one-time capital expenditures, but the U.S. is offering ongoing production tax credits that cover operational costs.

“It is going to continue to be difficult to compete with the U.S. without production tax credits,” Bernstein said. For hydrogen, investment tax credits will not be enough “to keep us competitive with the U.S.”

Mark Zacharias, executive director for Clean Energy Canada, agreed.

“Our suggestion for future budgets is we’d like to see production tax credits for electricity, batteries and clean hydrogen,” said Zacharias.

The new tax credits will have broad appeal to investors in new and growing industries, ranging from clean hydrogen, to zero-emissions vehicle manufacturing, to heat pumps.

“The government is mobilizing private investment into new sources of economic growth,” said Dale Beugin, executive vice president of the Canadian Climate Institute.

Industry groups and analysts said Canada still needs to do more to develop contracts for differences, which are meant to encourage major projects in carbon capture or hydrogen production. Contracts for differences guarantee investors in such projects a fixed carbon or hydrogen price over a contract duration, guarding against risks from political and market uncertainty.

The budget detailed how Canada will set up a growth fund, or a public investment vehicle, that a government source said would provide the contracts for projects it finances. Ottawa is still consulting on how to set up a program that would offer the contracts more broadly.

Canada also widened eligibility for previously-announced carbon capture utilization and storage (CCUS) investment tax credits to include cement plants.

That will benefit a proposed C$1.4 billion net-zero cement plant in Edmonton Alberta, being developed by privately-owned Lehigh Cement. Pipeline company Enbridge Inc (ENB.TO) is working with Lehigh to develop the CCUS component.

“From my industry’s perspective, we are very pleased,” said Sarah Petrevan, sustainability director for the Cement Association of Canada. “This budget far exceeded my expectations in how targeted the government was going to be.”

($1 = 1.3584 Canadian dollars)

Reporting by Steve Scherer in Ottawa and Nia Williams; Editing by Denny Thomas and David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

March 29, 2023 0 comment
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