Stellantis Ventures Seeds Innovation With 11 Key Investments Into Sustainable Mobility

AMSTERDAM — June 15, 2023 — Stellantis Ventures, the corporate venture fund of Stellantis N.V., has been formed to support and amplify the execution of the Dare Forward 2030 strategic plan.

Ten startup companies and one mobility venture fund have been considered so far as its first key investments. Three of the projects backed by Stellantis Ventures are launching this year, validating the fund’s mission to accelerate deployment of innovative, customer-centric mobility technologies and supporting Stellantis’ Dare Forward 2030 efforts in leading the change to a more sustainable mobility and better in-vehicle experience for all customers.

“Transforming Stellantis into a mobility tech company means we need to have the mindset of a startup, focused on our customers and working with a dash of impatience,” said Ned Curic, Stellantis chief technology officer. “We are using the strength of Stellantis Ventures to connect with companies that are developing cutting-edge technology that we believe can transform the in-cabin experience and improve the mobility sector, for our customers and for society as a whole.”

Investments support the Dare Forward 2030 strategy and are aligned to the three core pillars:  care, tech and value.

CARE

6K enables advanced sustainable manufacturing to ensure clean, low-carbon emission material production. 6K’s UniMelt plasma process is a cutting-edge platform for producing domestic sustainable critical materials for EV batteries, 3D printing and endless other applications. 6K delivers true sustainable manufacturing – faster, cleaner, and at a lower cost

Beweelsociety, a startup with roots inside Stellantis, is a developer of connected e-bikes and provider of a wide range of services from purchasing to cycling through one unique digital app, including financing, insurance, facilitation and care services (maintenance, anti-theft). Expanding the vision beyond traditional auto, beweelsociety helps Stellantis accelerate the growth of sustainable and soft mobility. The first e-bikes will be available to purchase from specialized cycling networks and technology-focused retailers in Europe, starting the last quarter of 2023

NetZero is a climate venture specializing in long-term carbon removal from the atmosphere by turning agriculture residues into biochar, a very stable form of carbon. Biochar can be mixed with agricultural soils, improving yields and reducing the need for fertilizers. NetZero’s mission is to bring biochar at scale in the tropics — for climate and people

TECH

Nauto deployed artificial intelligence and computer vision technology, combined with advanced risk data science, to more than 800 commercial fleets to help save money and lives through safer driving. Nauto’s safety system assesses both driver behavior risk and external road risk, warning and coaching drivers to reduce distracted driving and prevent collisions in real time while respecting driver privacy. Nauto Cloud and mobile applications help fleet safety and risk managers operate fleets more efficiently, identify and coach at-risk drivers, and accelerate claims processing. The Nauto solution will be available this summer in the United States on Stellantis commercial fleet vehicles

Trails Offroad, staffed by off-road experts and enthusiasts, offers a digital library of more than 3,000 detailed offroad trail guides throughout the United States and Canada that can be loaded in the Jeep® Uconnect system. Each trail guide provides detailed information, including route description, key waypoints, difficulty ratings, points of interest, videos and reviews. Beginning this summer, select new Jeep vehicles will have access to more than 200 notable trail guides, including the 62 Jeep Badge of Honor trails. The full catalog will be offered as a subscription service

Viaduct is an artificial intelligence platform designed to improve vehicle analytics for quality and maintenance. The platform deploys its machine learning algorithms to identify anomalies in fault and sensor data, predict vehicle health and enhance preventative maintenance routines, making vehicles safer, more reliable and personalized

Geoflex is a worldwide operator of satellite positioning augmentation technology designed to augment accuracy, integrity and continuity of operation of all global navigation satellite systems receivers, whatever the brand is. Its hypergeolocation services provide accurate, safe and resilient positioning down to four centimeters accuracy everywhere in the world, on land, at sea and in the air

Envisics is a globally renowned pioneer of dynamic holographic technologies with an application for augmented reality head-up displays (AR-HUDs) and automotive sensor systems. The advancement of Envisics technology has the opportunity to transform automotive displays and revolutionize the in-car experience

VALUE

Electra Vehicles, a provider of battery software solutions for electric mobility, provides active and adaptive controls for battery management systems, predictive battery analytics and battery pack design software. With embedded and cloud-based artificial intelligence and machine learning (AI/ML) battery enhancement features, Electra aims to maximize the full potential of battery power to enable electric mobility to take us further

Lyten created Lyten 3D Graphene, a unique decarbonization materials platform tunable for a wide range of advanced applications: lightweight composites for reduced vehicle weight, advanced sensors to improve driver experience, and a breakthrough highly sustainable lithium-sulfur battery that uses zero nickel, cobalt or manganese, has higher energy density, lower carbon footprint and enables supply chain independence

Stellantis Ventures will be present at MOVE 2023 on June 21-22 as an exhibitor in booth #36 and a main speaker, delivering the opening keynote on June 22 titled “Start Me Up! The central role of incubators in driving mobility forward” and joining a panel discussion on “The start-up ecosystem and the unicorn journey.”

Stellantis Ventures is not disclosing the name of the mobility venture fund investment.

Stellantis Ventures was announced in March 2022 as a key component of the Stellantis Dare Forward 2030 strategic plan. Dare Forward 2030 sets out a series of important targets, led by deep emission cuts to slash CO2 in half by 2030, benchmarking the 2021 metrics, to achieve carbon net zero by 2038 with single-digit percentage compensation of the remaining emissions. Core targets for Dare Forward 2030 also include 100% of passenger car sales in Europe and 50% of passenger car and light-duty truck sales in the United States to be BEVs by the end of the decade; the ambition of doubling net revenues by 2030 (versus 2021) and sustaining double-digit adjusted operating income margins throughout the decade; and the aim to become number one in customer satisfaction for its products and services in every market by 2030.

Posted: June 15, 2023

Source: Stellantis

Brown, Rubio, Blumenauer, Dunn Introduce Bipartisan, Bicameral Bill To Protect Ohio Businesses From Unfair Trade Regulations

WASHINGTON — June 15, 2023 — Today, U.S. Senators Sherrod Brown (D-Ohio) and Marco Rubio (R-Fla.) and U.S. Representatives Earl Blumenauer (D-Ore.-3) and Neal Dunn (R-Fla.-2) introduced the Import Security and Fairness Act, which would close a key loophole that foreign companies exploit to avoid paying duties and fees to unfairly compete with Ohio businesses.

Right now, packages under $800 in valuation are exempted from U.S. duties, taxes, and fees. The number of packages using this loophole to avoid duties has exploded in recent years, to more than two million packages per day. Competitors will often split large shipments into many small packages to cheat the rules and evade the duties they owe, gaining an unfair competitive advantage.

Brown’s bipartisan, bicameral legislation would ensure low-value shipments from non-market economies, such as China, are no longer exempt from paying any duties, taxes, or fees to the U.S. Government.

“Our trade laws can only protect Ohio workers and Ohio businesses if they aren’t riddled with loopholes. This loophole is essentially a backdoor way for competitors like China to ship goods into the U.S. without paying the tariffs and other taxes and fees they owe,” said Senator Brown. “Ohio workers should not be forced to compete with foreign competitors that cheat. Our bill would stop Chinese companies from abusing our trade laws to undermine Ohio businesses and their workers.”

“China exploits our capital markets and uses slave labor to undercut American businesses,” said Senator Rubio. “It is bad for our country to let China flood our country with duty-free packages using the de minimis exception. The Import Security and Fairness Act will close this loophole and take another critical step to stop China from cheating on trade.”

“The de minimis loophole is a threat to American competitiveness, consumer safety, and basic human rights,” said Representative Earl Blumenauer. “It is used by primarily Chinese companies to ship over two million packages a day into the United States. It puts American businesses at a competitive disadvantage while flooding American consumers with undoubtedly harmful products. There is virtually no way to tell whether packages that come in under the de minimis limit contain products made with forced labor, intellectual property theft, or are otherwise dangerous. It is time to close this loophole once and for all.”

“The de minimis $800 threshold is the highest in the world and is undermining U.S. manufacturers and U.S. workers. It is unfair, it cannot be regulated, and it’s full of fraud. Our de minimis program represents a unilateral disarmament of our customs enforcement and laws,” said Anderson Warlick, CEO of Parkdale Mills, which operates U.S. Cotton in Cleveland.

“We applaud Senator Brown’s leadership in the Senate in introducing this important bill, which would effectively prohibit China and Russia from exploiting the Section 321 de minimis mechanism in U.S. trade law,” said National Council of Textile Organizations President and CEO Kim Glas. “This gaping loophole allows more than 2 million shipments a day to enter the U.S. market duty-free and largely uninspected, which in turn severely undermines the competitiveness of U.S. textile manufacturers and workers, as well as our Western Hemisphere trade partners. It also endangers American consumers by allowing tainted products like those made with forced labor and counterfeits to land on our doorsteps. We look forward to continuing to work with Senator Brown and Senator Rubio on their legislation to address this serious problem.”

Since 1938, the de minimis provision in U.S. trade law has allowed low-value packages to enter the U.S. through simplified import processes and without paying any duties, taxes, or fees to the U.S. government. However, the government has continually raised this limit throughout the years, with the current limit being set at $800 in 2016. This has resulted in a severe increase of e-commerce packages entering the U.S. that are just under this $800 limit in order to take advantage of de minimis provisions.

Currently, over 2 million packages enter the U.S. each day under de minimis provisions. Due to looser regulations on de minimis packages, the U.S. Customs and Border Protection (CBP) and Consumer Product Safety Commission have raised concerns about these packages allowing unsafe and illicit imports into the United States, including goods made with forced labor. These imports also gain a significant competitive advantage over similar, U.S.-made products as they do not have to pay duties, taxes, and fees at the border — especially if they come from countries with markets fueled by government intervention.

Posted: June 15, 2023

Source: National Council of Textile Organizations

Oscar Chandler & Co. Inc., Collaborates With Covation Biomaterials LLC To Add Sorona® Polymer To Its Portfolio 

NEWARK, Del. — June 14, 2023 — Covation Biomaterials LLC (CovationBio), a global biomaterials company today announces its newest innovation in collaboration with Oscar Chandler & Co. Inc., a company with decades of experience serving mills in North and Central America. The collaboration delivers Sorona® polymer treated with a specialized dyeing process to the knitting world. Together, the teams will work to target new applications such as socks, sweaters, and tape fabrics to deliver a two-way and four-way stretch enabled by the Sorona polymer, which can be used as a spandex replacement in some applications.

This cooperation also combines the rich tradition of innovation from CovationBio with a long history of customer relationships that Oscar Chandler & Co. Inc., has demonstrated in the North and Central American regions.

Oscar Chandler & Co. Inc. will now offer a yarn that combines exceptional stretch and recovery, comfort, moisture management, luxurious drape, and a superior hand feel. Targeting their mill partners, this offering expands the future of sustainable textiles for use in casual fashion applications in the region, streamlining the method for dyeing Sorona polymer and reducing the processing time for colored stretch fabrics made with Sorona polymer.

Sorona polymer, made from 37 percent annually renewable plant-based ingredients, offers a high-performing, responsibly sourced material option. Fibers made with Sorona polymer are currently used in various apparel applications, including athleisure and athletic wear, insulation, swimwear, outerwear, suiting, faux fur, and more. Sorona polymer is a USDA Certified Biobased Product, has earned Class 1 certification as an OEKO-TEX® STANDARD 100 product and is bluesign approved.

“At Oscar Chandler & Co. Inc., we have a long history of bringing innovative yarns to the industry in North and Central America. We have dealt with both natural and synthetic fibers and are happy to add Sorona polymer to our portfolio. Our customers are always looking for new innovations that deliver clear value to the end user and we strongly believe that this offering is one where the end user will immediately be able to perceive its excellent value,” added Sridhar Suddala, senior associate, Oscar Chandler & Co. Inc.

“Oscar Chandler & Co. Inc., stands for trust and commitment. We have been in this business for several decades and honestly, we have not seen anything like the Sorona polymer. We are excited to bring this yarn in dyed format to customers in North and Central America. We are confident the Sorona® polymer will be a breakthrough innovation in the Americas,” said Mark Freedson, president, Oscar Chandler & Co. Inc.

“Garments containing monomaterial — or materials of the same kind — are a key growing trend in the textile industry globally. We are excited to work with the Oscar Chandler & Co. Inc., team and their network in North and Central America to be able to reach a wider range of mills,” said Binita Bhuta, vice president, Sustainability and Marketing, CovationBio.

Posted: June 15, 2023

Source: Covation Biomaterials LLC

The Global Filtration Industry Will Connect At FiltXPO™ 2023

CARY, N.C. — June 15, 2023 — INDA, Association of the Nonwoven Fabrics Industry, announced that registration is open for FiltXPO™ 2023, October 10-12, 2023, Navy Pier, Chicago. More than 130 exhibitors from the filtration supply chain will showcase their solutions, technologies, and innovations to over 1,200 global professionals. FiltXPO will also feature a three-day technical program covering new technology, products, and research.

Exhibit stand reservations have been brisk, exceeding the prior two editions of FiltXPO. “We are pleased to see the strong interest in exhibiting at FiltXPO. It speaks to the strength of the industry and that filtration products continue to evolve for clean air and water, as well as safer food, beverages, and biopharmaceuticals,” said Joe Tessari, associate director of Exhibit Sales.

“Filtration professionals come to FiltXPO to gain competitive market intelligence, find innovations for their products, and get their technical questions answered by the experts,” said Matt O’Sickey, INDA director of Education & Technical Affairs. “For anyone with filtration business in North America, FiltXPO is the place to be to grow that business,” he continued.

An important part of the FiltXPO event is the 1.5-day Filter Media Training Course. Participants will learn about the physics of filtration, how nonwoven media is designed and used in air and liquid filtration, the latest market trends, which applications have unmet needs, as well as testing standards. Registration is open for this course via the INDA website: www.inda.org/training

For more information on registering or exhibiting, visit: www.filtxpo.com

Posted: June 15, 2023

Source: INDA, Association of the Nonwoven Fabrics Industry

Introducing Paka Essentials: Comfortable, Non-Toxic Underwear

Los Angeles — June 15, 2023 — Paka, an alpaca-based apparel company renowned for its dedication to utilizing natural materials and pioneering products, is thrilled to announce the launch of its revolutionary men’s and women’s underwear line, Paka Essentials. This groundbreaking collection inspires consumers to “Sync Into Nature.” Meticulously crafted from the finest alpaca fiber, Paka Essentials redefines the standards of comfort and durability, while also providing a safe and non-toxic alternative to conventional undergarments.

At the core of the Essentials collection lies a harmonious fusion of royal alpaca, eucalyptus pulp, and organic pima cotton. These exceptional natural materials synergistically combine to offer consumers an unparalleled level of breathability, softness, and durability that surpasses the toxic alternatives present in the market.

Understanding the Dangers of Toxic Underwear

Often overlooked, the fabric of your underwear plays a crucial role in your well-being. With direct contact on your most sensitive areas, it’s imperative to consider the potential risks associated with synthetic fabrics, particularly those made with polyester (oil). Not only do these materials often contain toxins originating from the production process, but they also trap heat and moisture, leading to potential irritation. The possibility of absorbing these toxic compounds into your body demands a more conscientious choice when it comes to selecting underwear.

Paka’s Essentials: A Safe, Comfortable, and Non-Toxic Alternative

Paka’s innovative alpaca-based fibers are meticulously engineered to wick away moisture and facilitate rapid drying, offering an unparalleled dryness and breathability experience for both men and women. By choosing Paka Essentials, consumers can confidently embrace an organic and OEKO-TEX Certified undergarment option that eliminates exposure to harmful chemicals while providing unparalleled comfort, flexibility, and peace of mind.

News Consumers Need to Know

Scientific studies have demonstrated the presence of polyfluoroalkyl substances (PFAS), commonly known as “forever chemicals,” in various consumer products since the late 1930s. Much of the underwear market, among other everyday items, often contains these substances to confer water, oil, or heat resistance. However, recent research has unveiled a concerning link between environmental chemicals, which may be present in synthetic underwear, and significant negative impacts on fertility. The genital area, being one of the most sensitive parts of the human body, exhibits high susceptibility to chemical absorption. Common chemicals to which the genital area may be exposed when using conventional fabrics include, heavy metals, harsh petroleum scours, flame retardants, formaldehyde, ammonia, and chemical dyes. Exposure to these chemicals has been associated with difficulties in both male and female fertility. Recent studies (below) have shown that some underwear currently on the market contains carcinogens and other toxins that negatively impact hormonal health.

Posted: June 15, 2023

Source: Paka

A First For Stibo Complete In Collaboration With Antalis And Vanguard Europe

BRIXEN, Italy— June 15, 2023 — Stibo Complete, one of northern Europe’s largest and longest-established graphic companies, has been announced as the world’s first customer of Vanguard’s VK3220T-HS high production LED UV digital flatbed printer with 15 printheads. The deal with Vanguard Europe in collaboration with local partner Antalis will ‘significantly increase’ sales and provide up to 70-percent higher output, as well as cut down on outsourcing.

The VK3220T-HS, first launched in a world premiere at FESPA in May, has been installed at the Stibo Complete headquarters in Horsens, Denmark. Employing 500 people and with three factories in Denmark and two in Sweden, Stibo Complete’s configuration comprises three rows of CMYK and three white printheads.

“I have tested different brands in the flatbed market, and the Vanguard VK3220T-HS came out strong in all tests – quality, productivity and on the drying characteristics at high output,” said Henrik Mølgaard, production manager at Stibo Complete. “With between 45% and 70% higher output in the flatbed segment than today, it gives us the opportunity to significantly increase sales of flatbed products and at the same time reduce the use of external suppliers.

“Stibo Complete has utilized Antalis services for many years, they are a serious supplier and are developing a similar reputation for many products within large-format printing. Vanguard was not known to Stibo Complete beforehand, but with the print tests we made and the fact that Durst is behind Vanguard, we were not nervous at all about starting a collaboration.”

Digital is seen as a significant growth market by Stibo Complete. The company has its roots in the traditional printing industry and has undergone considerable transformation. Today, Stibo Complete describes itself as the ‘leading graphical supermarket in Scandinavia’. It is owned by the Stibo Foundation.

Søren Henriksen, CEO of Stibo Complete, said: “Over the years, customers have experienced new needs, and Stibo has been allowed to create the solutions. An investment in this market-leading digital technology from Vanguard gives us even more peace of mind to concentrate on the customers and on delivering the right opportunities. We are delighted. It makes a lot of sense – both for our customers and for our business.”

Yiannis Apostolidis, Business Development director of Vanguard Europe, said: “With a demo machine also installed in the Antalis plant in Vejle, this provides easy local access for local print service providers to witness at first hand the many benefits of our multi award-winning printers. All are built with market-leading technology, which is why they consistently excel in product testing. Backed by our comprehensive sales and service support, Vanguard is earning a reputation as the printer of choice in industrial UV digital flatbed markets. We really value our collaboration with Antalis and Stibo Complete in Denmark.”

Formed in late 2021, Vanguard Europe is the European subsidiary of Vanguard Digital Printing Systems Corp., which has its global headquarters in Lawrenceville, Ga. The company has its European base in Brixen, Italy, near to parent company Durst Group’s global headquarters from where it coordinates a distribution and service network through resellers, distributors, and other partners, as well as assembling the machines. Vanguard Europe serves flatbed and UV production industrial markets.

Posted: June 15, 2023

Source: Vanguard Europe

Online The “Alchemies” Of The 60th Filo Edition

BIELLA, Italy— June 14, 2023 — “Alchemies” – the video including the creative proposals by Gianni Bologna for the 60th edition of Filo – are available online on Filo’s website, from today onwards.

Filo’s creative proposals, carried out by Gianni Bologna (Responsible for Filo’s creativity and style), are characterized by unique features in the textile panorama, since they are focused on products and manufacturing processes. Due to a precise choice, for some editions, they have been proposed exclusively online. “Alchemies”, inspiring the 60th edition of Filo, and presented through a particularly evocative video, have been developed starting from a general theme developed across three textile interpretations: Eco-Bio-Techno, Japanese-African, and Fantasy Baroque.

Paolo Monfermoso, Responsible for Filo, declares: “Creative proposals realised today are intended to inspire an edition representing an important result for Filo: the 60th edition, that is to say the 30th anniversary of our Exhibition. In recent years, textile industry has not been stagnant and from one edition to the other, Filo has reflected the ongoing changes belonging to this industry as the increasingly attention to sustainability and traceability, as well as quality. On the contrary, the idea of creative proposals, once named ‘trends’, has remained unchanged; indeed, from the very beginning, Filo’s style proposals have been focused on the dialogue with exhibitors first, and then, during the Exhibition, on the one with visitors. That’s why Filo is not addressing a single season, since our textile themes represent a continuum evolving over time, through inspirations deriving from an overall vision of this current and future industry.”

Mr. Monfermoso adds: “Thank to this setting up, the presentation of the ‘Dialoghi Creativi” is one of the most awaited and appreciated events, not just by Filo’s exhibitors, but also by all professionals working in the textile and apparel industry. For this reason, for some editions, we have decided to make them available to the audience using digital channels, ensuring that they will be disseminated as widely as possible, covering distances, boundaries and time’s limits: any professional working in textile industry can freely choose when to watch our ‘Dialoghi Creativi’, having the opportunity to study them and being inspired whenever he/she wishes, simply visiting Filo’s website.”.

Gianni Bologna explains the contents of “Alchemies” in this way: ““The “Alchemies” we are hinting at are not the “hybridizations” about which so much has been said, but rather the creation of combinations representing somehow the general aesthetic lines that can be found in those countries which are thousands of kilometer apart or belong to different ages, which are divided by huge time distance, but which bring some characteristics typical of a secret common heritage that still survive.”

The 60th Filo edition will be held in September, the 20th and 21st at Allianz MiCo in Milan.

Posted: June 15, 2023

Source: Filo

Techtextil India Gives Impetus To India’s Medical Textile Revolution By Hosting A Special Zone Of SITRA’s Meditex

MUMBAI, India — June 15, 2023 — On the side-lines of the three-day fair, Techtextil India’s 2023 edition scheduled from 12th –14th September, will be hosting SITRA’s Expo on Medical Textiles called MEDITEX™2023 – an exclusive pavilion that focuses on medical textiles with live demonstrations and high-growth application areas offering a global platform for business opportunities.

Medical textiles are fabrics that are used in the healthcare industry for a variety of purposes ranging from maintenance of hygiene, prevention/control of infection to saving the life of critically ill patients. In recent years, the demand for medical textiles has been growing in India due to rise in geriatric population, accidents and life style diseases. Besides, various initiatives of governments, increased awareness about hygiene, medical tourism and advancements in textile technology are driving the growth of medical textile industry in India. According to a report published by Ministry of Textiles on the Indian Technical Textiles market, the market potential of medical textiles market at 5 percent is valued approximately at $1.125 billion in the year 2021-22.

SITRA is a world-renowned Textile Research Association, sponsored by the industry and supported by the Ministry of Textiles (MoT), with the contribution to the textile industry for more than 65 years. Its Centre of Excellence for Medical Textiles, established by MoT in 2008, has been organising MEDITEX — an International Medical Textile Expo cum Conference in 2014 and 2018 respectively. This exclusive fair for medical textiles has been offering a global platform for business opportunities in the varied application of medical textiles which has witnessed a good participation from the industry. For 2023, the expo will be held as a part of Messe Frankfurt India’s Techtextil India 2023.

Commenting on the developments, Raj Manek, executive director and Board Member, Messe Frankfurt Asia Holding Ltd, shared: “We are elated to host Meditex alongside Techtextil India. We are positive that through this pavilion we will be a part of the rising medical tourism industry. Medical textiles being one of the categories of technical textiles and with its scope and growth opportunities promisingly scaling up, this collaboration will mean a boon to the industry visitors to have a glance of entire innovations not only in technical textiles but also in medical textiles”.

Dr. Prakash Vasudevan, director of SITRA, said: Realization of potential of Medical textiles by the industries has increased multiple times after the outbreak of COVID-19 and now the industry is showing interest to invest on the manufacturing/R&D/raw materials, etc., in different segments of medical textiles. A common platform where manufacturers can exhibit new products/technologies that would help the industry to expand business opportunities is essential to make the industry viable and growth oriented. Toward the above, SITRA is glad to be associated with Messe Frankfurt Trade Fairs India, Mumbai in organizing its 3rd series of conference cum exhibition on Meditex.

Target topics based seminars, supported by Ministry of Textiles, Government of India would also be held concurrently along with the exhibition wherein the speakers would be discussing about current and evolving technologies in medical textiles. Stakeholders and visitors to the conference as well as the exhibition would get to witness and benefit from world class, state-of-the-art medical textiles products/machineries and technologies.

We invite all stakeholders to make use of this opportunity to increase their business opportunities by getting to know about recent developments in medical textiles.

Heading for its ninth edition, Techtextil India will continue to play a key role in overall development of this vibrant industry.

Posted: June 15, 2023

Source: Messe Frankfurt Trade Fairs India Pvt. Ltd.

Hologenix CEO And Cofounder Seth Casden Empowers Intellectual Success Inside The Company And Out

LOS ANGELES — June 14, 2023 — Seth Casden, CEO and co-founder of Hologenix®, the materials science company whose product CELLIANT® enhances textile-based products with bio-responsive properties, is not only committed to empowering his employees with intellectual success but future generations as well. The company he leads is focused on innovation and technology and funds employees in continued learning and skill development, but Casden also reaches beyond the corporate sphere to support education and exploration.

“I started my career in private equity, but my education and interests lie at the intersection of technology, sports, health and wellness. This led me to the natural blend of IR-generating minerals that would become CELLIANT and the founding of Hologenix,” Casden said. “I want future generations to be able to realize their potential, and to have a thirst for innovation and a dedication to making the world a better place.”

To date, the tech entrepreneur, industry thought leader, triathlete and world traveler has endowed a teaching chair, delivered an inspiring commencement address, provided scholarship funds and sponsored a groundbreaking expedition to the Galápagos to develop a blueprint for protecting marine ecosystems across the planet.

The Dr. William Turner Levy Endowment at his alma mater, Viewpoint School, in Calabasas, Calif., was established by Casden in 2017 and honors the late provost and longtime teacher who inspired generations for a lifetime of learning. It recognizes a faculty member every two years for their exemplary work with students. In addition to the stipend for the honorary teaching chair, the endowment provides resources for the Dr. Levy Chair to offer students a memorable experience that might not otherwise be possible. This is in keeping with Dr. Levy’s belief in the importance of going out in the world and experiencing life as he had done as an educator, author and confidant of luminaries such as Eleanor Roosevelt, T.S. Eliot and Frank Capra. Last year, Casden delivered the commencement address at Viewpoint, where he encouraged students to develop resilience and to take ownership of their happiness.

Having traveled to almost every part of the globe for athletic pursuits and business (he met a key early investor in Hologenix while climbing Mount Kilimanjaro), Casden’s commitment to environmental conservation is evidenced by his support of the international team of explorers and scientists working in the Galápagos to protect marine life.

Other causes Casden champions include Plan International USA, which supports children and young women in overcoming oppression and gender inequality, and the ASLEAD Institute, committed to developing leadership skills within family, church, community, local government and Kenya as a whole. He has also sought opportunities to travel and volunteer at charitable organizations in Sri Lanka that serve a girls’ orphanage, a special needs school and an assisted living home.

Similar to his dedication to Hologenix and bringing health and wellness benefits to people worldwide through bio-responsive textiles that emit infrared energy, Casden wants to empower the next generation with the education and skills to navigate the future and preserve the environment.

Posted: June 14, 2023

Source: Hologenix, LLC

Albany International Enters Definitive Agreement To Acquire Heimbach Group For 153 Million Euros

ROCHESTER, N.H. — June 14, 2023 — Albany International Corp. announced today it has entered into a definitive agreement to acquire privately held Heimbach Group, a supplier of paper machine clothing, in an all cash transaction valued at approximately 153 million euros, including the assumption of 21 million euros net debt. The transaction has been unanimously approved by the Albany Board of Directors and Heimbach’s shareholders. It is expected to close in the second half of 2023, subject to customary closing conditions and regulatory approvals. Albany will fund the transaction with cash held outside the United States.

Headquartered in Düren, Germany, Heimbach is a global supplier of paper machine clothing for the production of all grades of paper and cardboard on all machine types as well as high-tech textile products used in a variety of sectors, such as the food processing, chemicals, construction materials and automotive industries. The company has approximately 1,200 employees and nine production facilities across Germany, China, Spain, Switzerland, the United Kingdom, Belgium and Italy. Heimbach had 2022 annual revenue of approximately 161 million euros.

“The acquisition of Heimbach is an exciting opportunity to create significant value for our shareholders as well as for our customers as the partner of choice,” said Bill Higgins, president and CEO of Albany. “With Heimbach, we gain increased scale and complementary technology, while broadening our geographic footprint to efficiently serve markets in Europe and Asia. This transaction also provides an opportunity to leverage Albany’s expertise to drive meaningful margin expansion in Heimbach’s operations and cash flows that can be reinvested in high-growth areas of the Company. We look forward to working with the Heimbach team and welcoming them to Albany.”

Marco Esper, CEO of Heimbach Group, said: “In Albany International, we found a like-minded partner who shares our commitment to best-in-class customer service and advancing modern paper production. Together, we will leverage our collective product and technology portfolios to become an even better provider to our customers. I am incredibly proud of everything that Heimbach and our team have accomplished and look forward to working closely with Albany’s leadership to reach even greater success.”

“Heimbach is a solid addition to our company,” said Daniel Halftermeyer, president of Albany’s Machine Clothing business. “Their operations are an excellent complement to Albany’s existing network of forward-deployed manufacturing assets. Together, we look forward to providing our customers with even more value in terms of logistics, delivery capability, advice and service quality.”

Strategic and Financial Benefits

  • Enhances Albany’s Scale and Geographic Footprint: Heimbach’s strength in central European markets is an excellent fit with Albany’s northern European presence. Heimbach also brings additional production capacity in Asia, enhancing Albany’s ability to serve clients throughout the region.
  • Provides Complementary Technology: In addition to its broad offerings in paper machine clothing, Heimbach brings technologies that support Albany’s differentiation and ability to provide customers with optimized, application-specific solutions.
  • Leverages Albany’s Industry-Leading Operating Expertise to Drive Margin Expansion: Albany has identified numerous supply chain, logistics, insourcing and other operational opportunities that it expects will provide significant margin expansion in Heimbach’s operations.
  • Provides Attractive Financial Returns: The acquisition is expected to be accretive to Albany’s earnings per share and cash flow beginning in year two.

Albany has published a slide presentation in connection with today’s announcement which can be found on the Company’s investor relations website at investors.albint.com.

Posted: June 14, 2023

Source: Albany International Corp.

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