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3 Stocks to Play the Growth in Cloud-Based Services

Benzinga

The concept of cloud computing has been around for over a decade. However, the industry has rapidly evolved since its origins, which can be traced back to the 1963 DARPA initiative (Defense Advanced Research Projects Agency). Cloud computing, as we know it today, is a delivery medium that can provide services, such as data storage, analytics, networking, software solutions, and more, over the internet. Before the rise of the cloud, companies were held to the old hardware approach, which would require a hefty investment in new computing technologies to achieve scale and the desired outputs. Cloud computing offers a more streamlined approach, which allows customers to only pay for the services that they need, with the option to upgrade as the client’s needs change. This allows companies to lower their operating costs, streamline their infrastructure and achieve scale when it is needed. The COVID pandemic has only accelerated the growth of cloud-based solutions, as society witnessed the rise of the work-from-home phenomenon and the continued demand from consumers for e-commerce capabilities. According to Fortune Business Insights, the global cloud computing market was valued at $405.65 billion in 2021. The industry is projected to grow to $480.04 billion in 2022 and surge to a massive $1.71 trillion by the end of 2029. This represents an enticing compound annual growth rate (CAGR) of 19.9% for the period between 2022 and 2029. With the growth of cloud computing still seemingly in the early stages, here are three companies that stand to benefit from the underlying industry growth: Asure Software, Inc. (NASDAQ: ASUR) Asure Software is an Austin, Texas-based company that offers cloud-based human capital management solutions across the United States. Serving small and medium-sized businesses across many different industries, Asure’s suite of services gives companies complete control of every aspect of human capital management, from payroll & taxes to HR decision making, employee attendance, and even 401(k) & benefits integrations. In August 2022, Asure made two big announcements regarding the expansion of its 401(k) and HR services. First, Asure announced an agreement to integrate its FlexTax payroll tax filing engine with PrismHR’s payroll system, which is currently used by over 80,000 organizations. This also gives PrismHR users access to Asure’s Payroll Tax Management Services. In short, the integration with PrismHR vastly expanded Asure’s payroll & tax services business. In a separate announcement, Asure announced further integration of its payroll systems to directly connect with over 80 401(k) providers. The traditional route for employers to offer and manage sponsored 401(k) plans is extremely work-intensive and has been a major hurdle for smaller businesses to offer employer-sponsored plans to their workers. Asure’s direct integration with 401(k) providers removes that barrier by streamlining retirement plan options for companies that may otherwise not have the resources to offer such benefits. As workers continue to expect greater benefits and retirement planning options, Asure’s integration gives small businesses an edge in being able to compete for top talent. Turning to fundamental analysis, Asure looks appealing in its current state. The company trades at nearly a 25% discount to its book value, as seen with a price-to-book value of 0.76. Asure Software is a serious cash flow generator, which can be determined with a price-to-free-cash-flow ratio of 11.07. Furthermore, the company has very minimal debt and continues to hold a cumulative analyst rating of “strong buy.” Snowflake, Inc. (NYSE: SNOW) Snowflake offers cloud-based data analytics solutions through its platform. The company's Data Cloud offering allows customers to consolidate their data into a single source to help streamline business decision-making. The Data Cloud allows companies to collaborate data on a local and global scale. Rather than having several different programs or applications to manage various cloud functions, Snowflake wants to help cut through the clutter to integrate all areas of the cloud into a single platform. On August 24, 2022, Snowflake released fiscal second-quarter 2023 earnings, which showed impressive growth amid the current economic uncertainty. Product revenue surged 83% y/y to $466 million and achieved non-GAAP product gross margins greater than 75%. In addition, Snowflake added 12 new Global 2000 customers during the fiscal Q2 2023 period. On a guidance basis, Snowflake's management estimates third-quarter product revenue to come in between $500 million and $505 million, which would represent a year-over-year growth range between 60% and 62%. The strong quarterly results prompted analysts covering Snowflake to increase their bullishness on the company. Needham analyst, Mike Cios, initiated coverage of Snowflake with a "buy" rating. The strong recovery in customer growth during fiscal Q2 helped alleviate any concerns from fiscal Q1 regarding the potential for a growth slowdown as the economy weakens. In the note, Mr. Cios said “data is the new oil,” which means Snowflake could be on the way to continued growth over the coming years. On a fundamental analysis basis, Snowflake is very well capitalized. The company has no debt and cash per share of $12.38, giving the data analytics company a very solid current ratio of 3.20. Unfortunately, the company does appear to be trading at a lofty premium when looking at its price-to-sales of 33.90, price-to-free-cash-flow of 170.36, and a forward price-to-earnings ratio of 405. CrowdStrike Holdings, Inc. (NASDAQ: CRWD) CrowdStrike is focused on cybersecurity cloud-based solutions. In a world that is increasingly becoming more digitally connected, the need for proper security has become a major point of emphasis. The company offers a wide range of cybersecurity services, which include Zero Trust identity protection, log management, threat intelligence, IT operations management, and more. Like traditional computing, the cloud can be vulnerable to hackers and criminals who seek to steal sensitive information. CrowdStrike's Cloud Security solutions provide continuous management and breach protection for any cloud in the industry's one and only Cloud Native Application Protection Platform. The platform is powered by holistic intelligence and end-to-end protection, which gives managers greater visibility and capability to act against digital threats. During the second quarter of the fiscal year 2023, CrowdStrike reported total revenue growth of 58% y/y to $535.2 million. The cybersecurity company reported a record net new ARR of $218 million, which represents year-over-year growth of 45%. Ending ARR grew to an impressive $2.14 billion, an increase of 59% y/y. This demonstrated not only CrowdStrike's ability to retain customers but to also continue to add new clients as well. The company added 1,700 new customers during the quarter. Looking at the fundamentals, CrowdStrike trades at a considerable premium to several metrics, despite being down over 18% so far in 2022. The company's cash position is stable, but CrowdStrike does have a long-term debt-to-equity ratio of 0.60, which weighs on its current ratio of 1.80. The company does trade at a 69x multiple when looking at the price-to-free-cash-flow ratio. Price-to-sales is lofty at 21.40 and forward price-to-earnings comes in at a steep 89.49. However, the company is a growth stock and thus relies more on revenue growth than it does on some of the more value-focused metrics. Bottom line, as long as CrowdStrike can continue its dominant growth, investors will likely continue to maintain a long-term bullish stance on the company. The post “ 3 Stocks to Play the Growth in Cloud-Based Services ” first appeared on Spotlight Growth. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five thousand dollars cash for the creation and dissemination of this content by Asure Software.This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions. Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/ Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

October 05, 2022 01:03 PM Eastern Daylight Time

Minuteman Press Franchise Owner Steve Edman Celebrates 15 Years in Houston

Minuteman Press International Inc

When it comes to operating his Minuteman Press franchise in Houston over the past 15-plus years, Steve Edman keeps it simple and sticks to what has made him successful as a small business owner. He says, “Our success and longevity can be attributed to having fantastic employees, 3 full-time and 1 part-time. I also personally stay proactive with visiting and delivering excellent printed products to our customer base.” Steve adds, “We’ve grown our business by consistently providing quality print and quick turnaround. We provide all things printing such as booklets and manuals, as well as marketing and mailing services. Whatever our customers need, we can provide.” Minuteman Press in Houston/Bellaire is located at 4662 Beechnut Street; Steve describes his business community as “positive and appreciative.” He further shares, “I originally started in the beer business for the largest wholesaler in the world as a Driver Salesman. I retired after 24 years as a Regional Manager, and then decided to buy this business. Thanks to our hard work and building real relationships with our clients, here I am 15 years later and counting.” Steve also credits being part of the Minuteman Press franchise family for supporting him along the way. He says, “Minuteman Press International is very supportive. They give me the toolbox to be successful and I have the choice to pick and choose what will help me succeed in my local market. I appreciate their local and corporate support teams that are always there for me when I need them.” “I’d like to congratulate Steve Edman for his continued dedication to the Bellaire business community and his clients for over 15 years. I look forward to continuing to support Steve and his staff as he continues to build his business,” adds Erick Rios, Minuteman Press International Area Manager, Houston. Ultimately, as he reflects on the past 15-plus years, Steve is happy with his decision to change industries following his career retirement and buy a printing business. He shares, “Printing remains vital today because it puts your products, messaging, and brand directly in the customer’s hands. We love meeting our clients’ needs by providing high quality printed products that help them reach out to and engage with their target audiences.” Steve adds, “I get great satisfaction from making those deliveries and providing the finished products to my clients. I am also very gratified with being able to build my business and reap the rewards.” As for what advice he would give to other business owners, Steve keeps it simple again and offers some poignant advice: “Hit the streets, hire the right people, and always follow up with the customer so you can learn from them. That is what has always worked for me.” Steve Edman’s Minuteman Press franchise is located in the Bellaire area at 4662 Beechnut St., Houston, Texas 77096. For more information, call 713-490-9500 or visit their website: https://minuteman.com/us/locations/tx/bellaire/ Learn more about #1 rated Minuteman Press franchise opportunities and see Minuteman Press franchise reviews at https://minutemanpressfranchise.com. Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

October 05, 2022 10:00 AM Eastern Daylight Time

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COMCAST OPENS XFINITY STORE IN BEAVERTON, OREGON

Comcast Oregon / SW Washington

Comcast is hosting a Grand Opening celebration on Friday, October 7th for its new Xfinity store in Beaverton, Oregon. The 2,480 square foot store is located at 2597 SW Cedar Hills Blvd, Suite 105, Beaverton. The ribbon-cutting will take place at 2:00 p.m. with the festivities running until 4:00 p.m. The public is welcome to enjoy beverages, snacks, and giveaways. This opening marks the 19 th Xfinity store in the Oregon/SW Washington region aimed at meeting customer growth. With a welcoming and interactive environment that highlights Comcast’s entertainment and technology offerings, customers will be able to buy cell phones, pay bills, return equipment, and demo the company’s latest residential and business product offerings. Xfinity store employees will happily demonstrate the X1 entertainment platform, show how to use xFi tools to manage home internet functions (like shutting it down at dinnertime or bedtime, or ensuring the security of your network), as well as educate customers on the free mobile apps available so you can take your saved TV programs and movies on the go with you wherever you are. Jacob Mitchell, Comcast Oregon/SW Washington’s Vice President of Sales and Marketing is excited about opening the new store. “We are beyond thrilled with our new store in Cedar Hills Crossing.” He went on to say, “Xfinity has such a compelling story to tell with our unbeatable internet, as well as the fastest mobile with the lowest prices. A new, exciting physical location for our customers to come in and hear about our products is the right investment to make.” The new store will employ eight people, and will offer customer-friendly hours, open from 10:00 a.m. to 8:00 p.m. Monday through Saturday and 11:00 a.m. to 6:00 p.m. on Sundays. ABOUT COMCAST CORPORATION:Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 56 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. Contact Details Comcast Amy Keiter +1 503-310-3879 amy_keiter@comcast.com Company Website https://corporate.comcast.com/

October 05, 2022 06:20 AM Pacific Daylight Time

This Company Strives To Save Water As Population Growth Drives Demand For Food Higher

AgriFORCE Growing Systems

Learn More about AgriFORCE by gaining access to the latest research report here With climate change contributing to more droughts and water shortages around the globe, the world is searching for ways to preserve this precious resource. The United Nations reports that drought frequency and duration has increased by nearly a third since 2000, and, according to the Palmer Drought Index, about 27% of the contiguous United States is affected by severe to extreme drought as of the end of August. Without water, fertile soil is turning to dust, and as the land dries up, the world’s food supply is feeling the impact. A growing population and increasing demands from agriculture and industry add to the threat. And with news outlets sounding the alarm daily about the threat climate change poses to this all-important life source, consumers are demanding change in how agriculture and other industries use it. Agriculture sucks up a staggering 70% of the freshwater in North America, and the push is on to find ways to conserve it. Food production must increase by 70% to keep up with a world with a population that is expected to increase to 10 billion people by 2050. With water becoming increasingly scarce, cultivators must adjust how they’re using it while improving productivity. That’s where AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) comes in. The Vancouver, British Columbia-based company says its intellectual property is transforming the future of agriculture through technologies that include automated growing systems and proprietary facility designs, among other agricultural tech. Conserving Water Through Innovation AgriFORCE believes that sustainability and innovation must be at the center of everything it does. The company uses technology to improve crop quality and yield while reducing water and energy consumption. To that end, AgriFORCE says everything it does is focused around intellectual property (IP) that it believes can drive innovation and create value through the entire food system. As an example, AgriFORCE recently announced plans to acquire Dutch agricultural technology (AgTech) consultancy Delphy Groep BV in order to further strengthen its IP pool. The Netherlands is the world’s second-largest exporter of food and is known for controlled-environment agriculture, which is among the solutions being implemented to reduce water consumption. Greenhouses use hydroponic growing methods in which plants are grown in a small zone without soil, which results in more efficient use of water. Hydroponics prevents over-irrigation, and water can be collected and reused. AgriFORCE with its subsidiaries is developing a system that collects the water that plants transpire to transport nutrients and cool themselves. Through active cooling, condensate can be collected and used again for irrigation. Consider the following - while one kilogram of tomatoes produced in a field in Spain consumes about 60 liters of water, that same kilo of tomatoes requires only 22 liters in the average greenhouse. Using advanced technology like dehumidification and recollecting the water can further reduce water consumption to as little as 4 liters per kilo, according to AgriFORCE. That would certainly go quite some way in reducing water consumption by food cultivators. Delphy has developed such technology for the Netherlands and believes it can be adapted to conditions in different regions around the world. AgriFORCE also sees opportunities to reduce water consumption through digitizing crop management to optimize resources. But AgriFORCE’s work towards preserving this precious resource goes beyond the fantastic work Delphy is doing - another recent acquisition set to expand AgriFORCE’s IP portfolio is its planned acquisition of Belgium-based Deroose Plants NV, one of the largest tissue culture propagation companies in the world. This acquisition focuses on plantation crops like rubber and palm oil, which also have a significant impact on the environment. Tissue culture is the replication of plants using cellular material and AgriFORCE says it provides a robust way to breed and change plant characteristics to help advance the broader pursuit of water conservation. Not only does this technology help save water, AgriFORCE says it also helps improve yields significantly - by an impressive 50% for rubber and 117% for palm oil according to the company. Other IP the company plans to deploy includes an IP bank acquired through Manna Nutritional Group, which gives the Canadian company a presence in the healthy snack industry. Other companies in the agriculture industry striving to reduce water consumption include Archer-Daniels Midland Co. (NYSE: ADM) and Danone SA (OTCMKTS: DANOY). AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an agtech company focused on building an integrated agtech platform that combines the best technology, intellectual property and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world. Looking to serve the global market, the Company’s current focus is on North America, Europe and Asia. The AgriFORCE vision is to be a leader in delivering plant-based foods and products through an advanced and sustainable agtech platform that makes positive change in the world—from seed to table. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details TraDigital IR - Malaika Temu malaika@tradigitalir.com Company Website https://agriforcegs.com/

October 05, 2022 09:14 AM Eastern Daylight Time

BT helps customers accelerate towards a circular economy

BT Group

BT today announced a new programme aimed at reducing business customers’ e-waste by recycling end-of-life equipment and helping them achieve their targets for a circular economy. It is the latest step in BT Group’s Manifesto pledge to move to circular products, networks and operations by 2030, and then extend this across its supply chain by 2040. The new programme comes as organisations around the world are transforming their network and IT infrastructure to support the latest multi-cloud deployments. As part of this transformation, BT environmental specialists will work with customers to better understand and map the role of sustainability in a digital world. Replaced or decommissioned electronic equipment from a customer’s network will be shipped back to Cisco to be responsibility re-used or recycled through its takeback and reuse programme. Up to 99.9 per cent of what is returned will be re-used or recycled. BT has Cisco-certified environmental specialists in the UK, US, Italy, Ireland, Switzerland and Singapore to manage the process. Further countries will be added by end of 2022. The programme adds to BT’s existing take-back and reuse services for smartphones providing an easy way to upgrade, securely dispose and recycle the devices using a single, complete solution that handles everything. According to the World Economic Forum (WEF), 57.4 million tonnes of e-waste was generated during 2021 with only 20 per cent recycled. If left unchecked, this could rise to 120 million tonnes each year. WEF also reported that 70 per cent of hazardous waste deposited in landfills is from e-waste. “E-waste is a growing concern and according to WEF now the fastest-growing waste stream in the world. Our customers and partners have made commitments to report on and improve performance in this critical area,” said Hriday Ravindranath, chief product & digital officer at BT’s Global unit. “Creating a more sustainable, circular economy, where we prioritise dematerialisation and avoid equipment going to landfill, is vital. It builds on our leadership in sustainability and will help deliver on our BT Group Manifesto commitments and ambition to connect for good.” ENDS About BT Group BT Group is the UK’s leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services. We also provide managed telecommunications, security and network and IT infrastructure services to customers across 180 countries. BT Group consists of four customer-facing units: Consumer serves individuals and families in the UK; Enterprise and Global are our UK and international business-focused units respectively; Openreach is an independently governed, wholly owned subsidiary, which wholesales fixed access infrastructure services to its customers - over 650 communication providers across the UK. For the year ended 31 March 2022, BT Group’s reported revenue was £20,850m with reported profit before taxation of £1,963m. British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange. For more information, visit www.bt.com/about Contact Details Kim Kennedy kim.kennedy@ccgrouppr.com Company Website https://www.bt.com

October 05, 2022 04:00 AM Eastern Daylight Time

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Oasys Forms Strategic Partnership with tofuNFT to Expand its Gaming Ecosystem

Oasys

SINGAPORE - Media OutReach - 5 October 2022 - Oasys, a blockchain developed specifically for the gaming community, today announced a strategic partnership with tofuNFT, the largest multi-chain, GameFi-focused NFT marketplace, to expand the Oasys gaming ecosystem. NFT marketplaces are the bedrock of blockchain gaming. As a two-layer blockchain, Oasys plays a critical role in the blockchain gaming industry's development, with future gaming projects likely to be built on "Verse", the gaming-focused Layer-2 on Oasys. Each Verse is expected to develop its own independent ecosystem, and integrating an NFT marketplace is one of the most essential components in expanding the blockchain gaming ecosystem. As part of the strategic partnership, tofuNFT will integrate with all of the Verses on Oasys. This integration provides Oasys ready access to tofuNFT's expansive ecosystem, by virtue of their position as the largest multi-chain NFT marketplace, whose volume primarily comes from GameFi-related projects. Daiki Moriyama, Director, Oasys, said: "Through our partnership with tofuNFT, we envisage bringing together both gaming communities and blockchain gaming ecosystems to usher in the next phase of the industry's growth. It is incredibly exciting to be joining hands with a partner who has deep GameFi expertise and an extensive network, as we collectively shape the industry's future and work towards a shared goal of driving the mass adoption of blockchain technology." Yu Numazaki, Co-founder of tofuNFT, added: "We are thrilled to be collaborating with Oasys as it continues to grow from strength to strength, and increasingly onboards more and more Layer-2 blockchain gaming projects. With NFT marketplaces functioning as a key defining feature of blockchain games, we look forward to leveraging Oasys' deep ties with traditional gaming institutions and offering our solutions to encourage the uptake of blockchain gaming." Oasys' partnership with tofuNFT comes on the back of a recent announcement of Square Enix's participation as the final initial validator on the Oasys blockchain, as well as other strategic collaborations with industry movers in the gaming and blockchain space such as Mythical Games and ConsenSys. In July 2022, Oasys also announced a successful USD20 million Private Token Sale round led by Republic Capital, with participation from other industry heavyweights such as Jump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, bitbank and Mirana Ventures. With backing from significant players in the industry, Oasys will continue to focus on improving user experience and championing the mass adoption of blockchain technology in the gaming sector and beyond as it gears up towards a Mainnet launch in October this year. About Oasys Oasys was established in February 2022 to increase mainstream play-and-earn adoption, and at launch, committed to partnering with 21 gaming and Web3 tech companies to act as validators, such as Bandai Namco Research, SEGA, Ubisoft and Yield Guild Games. Led by a team of blockchain experts and joining forces with the biggest gaming company names to serve as the initial validators, Oasys is revolutionising the gaming industry with its Proof-of-Stake (PoS) based eco-friendly blockchain. With a focus on creating an ecosystem for gamers and developers to distribute and develop blockchain-based games, Oasys solves the problems game developers face when building games on the blockchain. The trifecta approach of the fastest network powered by the gaming community, a scalable network powered by AAA game developers and the blockchain offering the best user experience with fast transactions and zero gas fees for users, readies participants to enter the Oasys and play. For more information, please visit: https://www.oasys.games/ About tofuNFT tofuNFT (tofuNFT.com) is the largest multi-chain NFT marketplace that lives on 30+ EVM-compatible public chains and most of volume comes from GameFi. It started in Oct 2021 on BSC and has been the largest since December. We've also already become the largest NFT marketplace on Arbitrum, Metis, Boba, Aurora, Moonbeam, Astar and are among the top 3 on Avalanche, Polygon, Fantom, Cronos, Optimism and other chains. In Sep 2022, we formed a strategic partnership with X2Y2, the world's highest volume NFT marketplace. For more information, please visit: https://tofunft.com/ Contact Details Vanessa Low oasys@wachsman.com Company Website https://www.oasys.games/

October 04, 2022 09:41 PM Eastern Daylight Time

Electrovaya To Build Its First U.S. Gigafactory in New York State, To Open In Phases Starting In Late 2023

Electrovaya Inc.

Electrovaya Inc. ELF:TO EFLVF recently announced that it has selected New York State as the location for its first U.S. gigafactory (the “Gigafactory”), for the production of cells and batteries. Electrovaya will set up operations at a 137,000-square-foot plant on a 52-acre campus near Jamestown, NY. The Company is developing the Gigafactory due to rising demand for its lithium-ion batteries, which provide superior safety and longevity in demanding applications for e-forklifts, e-trucks, e-robots, e-buses and more. Dr. Raj Das Gupta, CEO of Electrovaya, said: “Electrovaya is proud to build our first U.S. gigafactory in New York State to manufacture our high-performance lithium-ion battery products with 100% renewable energy. We are very pleased to have strong support from the State for this venture and expect to continue to find additional non-dilutive funding to support capital needs.” “The Gigafactory will achieve three key objectives for the Company: Increase our manufacturing capacity to meet growing demand, improve our supply chain security and overall gross margins through added vertical integration, and develop additional market opportunities given the significant U.S.-based manufacturing capacity,” continued Dr. Das Gupta. Empire State Development (ESD) is assisting the project by providing up to $4 million of tax credits through the performance-based Excelsior Jobs Program, and $2.5 million of funding through the Regional Council Capital Fund Program. The Gigafactory will be located in a former electronics manufacturing facility and is expected to create approximately 250 new jobs, with expected production of more than one GWh of battery and energy storage systems over the next five years. Electrovaya will also be eligible for other New York State funds, as well as U.S. federal funding from various agencies and programs. In July, the New York Power Authority Board of Trustees approved an allocation of more than 1.5 megawatts of low-cost hydropower under the Power Authority’s Industrial Economic Development program to meet the increased electric load resulting from the Gigafactory. The final capital cost of the facility is estimated at approximately $75 million, and it is expected to open in phases starting in late 2023. About Electrovaya Inc.Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Company's Infinity line of batteries is focused on commercial vehicles and its Solid State Technology under Development is focused on passenger vehicles. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Electrovaya Inc. Jason Roy +1 905-855-4618 jroy@electrovaya.com Company Website https://electrovaya.com

October 04, 2022 04:01 PM Eastern Daylight Time

The Channel Company Announces Acquisition of Technology Marketing Agency Lauchlan

The Channel Company

The Channel Company, global provider of news, insights, strategy, events, and marketing services for the technology industry, announces the acquisition of Lauchlan, a U.S. based global marketing agency dedicated to the technology industry. This strategic acquisition will continue to expand marketing agency services capabilities, scale creative and digital services globally and accelerate time to market for clients. Lauchlan’s marketing agency services include comprehensive marketing support, campaign creation, program execution, customized leads management and in-depth reporting to maximize IT channel marketing investment, creating a complimentary fit to continue scaling The Channel Company’s marketing services delivery capability worldwide. “The acquisition of Lauchlan, in addition to global services organization bChannels and Incisive Media’s Technology Group brands earlier this year, is another step towards our vision of becoming the leading global provider of innovative marketing services for the technology industry. We continue to invest in high-value areas that will scale and expand our capabilities to drive greater outcomes for our clients anywhere they are in the world,” said Blaine Raddon, CEO of The Channel Company. The organizations share synergies with their go-to-market strategies, technology industry expertise and agency delivery models as well as a common culture of driving client outcomes, strategic company growth and continued career development opportunities for employees. The combined strengths of the two organizations will provide immediate revenue and client expansion opportunities. Clients of Lauchlan will benefit from the extensive platform of additional marketing, events, communities, consulting, and data services that The Channel Company offers while clients of The Channel Company will have access to a broader range of marketing services to accelerate their business outcomes and investment return. The collective delivery model will continue to scale globally to deliver solutions across The Channel Company’s platform in all major regions. “Joining forces with the most respected technology channel marketing and services provider in our industry represents tremendous opportunities for our technology clients, partners, and employees. Lauchlan agency’s deep, creative development and execution capabilities paired with the depth and breadth of services available through The Channel Company allows us to provide the industry with a truly unprecedented suite of solutions for direct, and channel partner marketing on a global scale,” said Kathleen Lauchlan, CEO of Lauchlan agency. Lauchlan’s M&A advisor was Supporting Strategies and legal advisor was Bernstein Shur. The Channel Company received legal advice from Jones Day and due diligence advice from Alvarez & Marsal. About The Channel Company Headquartered in Westborough, MA, The Channel Company has been servicing the technology channel community for over 40 years. From CRN, the #1 source of technology news, insights, and analysis for the IT channel, to industry-leading events that connect clients to customers, to powerful research, consulting and engaging education to accelerate growth, to transformative marketing services to maximize investment, The Channel Company provides a full suite of outcome-driven services focused on addressing the channel’s unique needs worldwide. The Channel Company is a portfolio company of investment funds managed by EagleTree Capital, a New York City-based private equity firm. www.thechannelco.com About EagleTree Capital EagleTree Capital is a leading New York-based middle-market private equity firm that has completed over 35 private equity investments and more than 75 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: media and business services, consumer, and water and specialty industrial. For more information, visit www.eagletree.com or find EagleTree on LinkedIn. About Lauchlan Founded in 2009, Lauchlan is a US-based, full-service agency dedicated to helping global technology marketers and their channel partners execute strategic, multi-touch, omni-channel marketing activities aimed at accelerating pipeline opportunities. Lauchlan's services provide comprehensive technology-focused marketing support, campaign creation, turnkey program execution, lead generation campaigns, live and online events, digital go-to-market strategies and in-depth ROI reporting. The agency’s dedicated team of marketing professionals is singularly focused on delivering optimal performance metrics while maximizing marketing development funds. www.lauchlanx.com Contact Details The Channel Company Corporate Communications +1 508-531-9172 corporatecommunications@thechannelcompany.com Company Website https://www.thechannelcompany.com

October 04, 2022 03:00 PM Eastern Daylight Time

Industrial Defender Appoints Gabe Authier as Chief Product Officer

Industrial Defender

Industrial Defender, a leader in operational technology (OT) cybersecurity solutions, today announced the appointment of Gabe Authier as CPO. This addition strengthens the company’s bench of technical executives and positions it for success in 2023 and beyond. Authier has held product management roles at both Tripwire and Belden, and his comprehensive knowledge of the industrial cybersecurity space and cloud-native solutions will further enrich Industrial Defender’s product development roadmap. “Industrial Defender continues to add incredible new talent to the team. Gabe’s experience architecting customer-centric product roadmaps, building cloud-native technologies and creating innovative solutions for the industrial space aligns well with our organizational goals,” said Jay Williams, CEO of Industrial Defender. “I am confident he will be an essential contributor to our continued success as a global leader in OT cybersecurity solutions.” “We see a massive opportunity right now to help critical infrastructure companies mature their cybersecurity programs beyond basic visibility solutions. Identifying, monitoring and managing asset data from a single tool is the next generation of OT security,” said Authier. “I couldn’t be more excited about the opportunity to shape Industrial Defender into the go-to OT data platform for the future.” Authier brings over 20 years of experience in product management and information technology and is passionate about customer-centric software development. He holds a BS in Systems Engineering from University of Arizona and an Executive MBA from the University of Oregon. About Industrial Defender Industrial Defender protects the world’s critical infrastructure from cyberattacks. As a leader in OT cybersecurity innovation, the company’s scalable platform is used by organizations around the world to empower security stakeholders with actionable data from their OT and IIoT infrastructure, enabling them to make informed risk management decisions and manage their OT cybersecurity program in a concise, single vendor dashboard. Learn more at www.industrialdefender.com. Contact Details Industrial Defender Erin Anderson +1 617-675-4206 eanderson@industrialdefender.com Company Website https://www.industrialdefender.com

October 04, 2022 09:09 AM Eastern Daylight Time