Market Newsdesk

TAI Launches Reinsurance Portfolio Analytics Tool, TAI Insights

ST. LOUIS–(BUSINESS WIRE)–TAI (Tindall Associates, Inc.), a leading provider of reinsurance administration software and services, announced today the launch of TAI Insights, an intuitive reinsurance analytics toolset that empowers TAI clients to improve reinsurance operations and optimize their reinsurance portfolios. Powered by Comotion, a technology business that builds tools for the life insurance and finance industries, TAI Insights uses analytics in reinsurance decisions to increase efficiency in risk management and operational processes.

“At TAI, we strive to drive administrative efficiencies while reducing operational and financial risk for our clients,” said Brian Traxler, Senior Vice President, Business Development, TAI. “With our new Insights tool, clients can analyze, evaluate, and make decisions about their reinsurance portfolio at the press of a button, in ways they could not do before.”

“Comotion was founded to use the power of cloud and data analytics to drive positive change in the financial services industry,” said Tim Vieyra, CEO, Comotion. “We are very happy to be partnering with TAI to bring this revolutionary toolset to life insurers.”

TAI Insights provides reinsurance clients with a powerful analytics toolset that allows them to monitor overall and individual treaty performance and watch for emerging experience from their book of business. The tool also allows them to examine client/policyholder concentration risk and align their reinsurance program with their corporate risk appetite. Through highly customizable dashboards designed specifically for reinsurance teams, TAI Insights enables users to monitor the business performance of their reinsurance portfolio and actuarial teams to conduct deeper analyses of reinsurance programs.

For nearly 40 years, TAI has served the life insurance industry specializing in reinsurance administration software and reinsurance services. Through the TAI platform, clients can administer and self-report all reinsurance business, both ceded, reinsured, and retroceded, in an electronic format to share with their reinsurance partners.

For more information about TAI, visit www.taire.com.

About TAI

TAI is the market leader in life reinsurance systems in North America with clients in the United States, Canada, Bermuda, the Caribbean, United Kingdom, South Africa, and Hong Kong. TAI is focused on simplifying reinsurance administration through software and service solutions. TAI Software automates reinsurance administration for life and annuity business. TAI Services helps identify and solve areas of reinsurance risk as well as provides both short-term and long-term resource assistance. Over 90% of the top 50 insurers in North America, by life face amount issued, trust TAI software for their life reinsurance administration.

About Comotion

Comotion Business Solutions is a technology business that builds tools for the life insurance and finance industries. Comotion was founded in 2012 and is based in Cape Town, South Africa, and aims to co-build a positive future by simplifying big data analysis, insights and data collaboration through partnerships, innovation and cloud technology. Comotion builds and offers a range of technology services and tools to fulfil this vision. To find out more, visit Comotion at www.comotion.us or on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005214/en/

Lynn Phillips

Vice President, Corporate Communications

636-736-2351

[email protected]

Lizzie Curry

Director, Public Relations

636-736-8521

[email protected]

Jeff Hopson

Senior Vice President, Investor Relations

636-736-2068

[email protected]

KEYWORDS: Mississippi United States North America

INDUSTRY KEYWORDS: Software Insurance Data Analytics Health Professional Services Technology Health Insurance Fintech

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ZoomInfo Helps Customers Increase Productivity by More Than 60 Percent

Survey of More Than 4,300 Users Reveals Higher Win Rates, Shorter Deal Cycles, and Reduced Spending

VANCOUVER, Wash.–(BUSINESS WIRE)–ZoomInfo (NASDAQ: ZI), a global leader in modern go-to-market software, data, and intelligence, today released its 2023 Customer Impact Report, an in-depth analysis of the boosted productivity and immediate value that ZoomInfo delivers for go-to-market teams.

ZoomInfo surveyed more than 4,300 professionals across sales, marketing, operations, and talent roles to determine how the company’s data and tools are helping businesses and individuals unlock their growth potential.

The results show that ZoomInfo customers of all sizes and industries reap immediate benefits, including skyrocketing productivity, more efficient spending, higher win rates, and shorter deal cycles. The report, available for free download, illustrates how ZoomInfo’s advanced software and industry-leading data can help businesses of all kinds grow more effectively and sustainably.

On average, ZoomInfo users said they were 63% more productive because of ZoomInfo — cutting the number of tools they need, reducing the time spent on administrative tasks, and stretching their budgets further. Among the other findings:

• Sales representatives cut their prospecting time in half with ZoomInfo, while doubling their connect rates over both phone and email.
• 67% of sales leaders reported immediate gains in topline revenue, with deal cycles that are 37% shorter on average.
• 90% of revenue operations professionals expanded their total addressable markets using ZoomInfo, and 70% of marketers reduced their spending due to more accurate targeting.
• The average recruiter was able to hire employees 20% faster, and employees are four times more likely to stay at their company because they have access to ZoomInfo.

“Navigating today’s business environment means leaders have to think critically about how they can do more with less,” ZoomInfo Founder and CEO Henry Schuck said. “ZoomInfo helps them solve this challenge across the entire go-to-market team.”

“By using ZoomInfo over the past nine months, we have increased the number of viable leads for the sales staff tenfold,” said a sales director at Mount-It!, a ZoomInfo customer. “We’ve also reduced the amount of time spent locating these leads, leading to more time spent on the phone with the right contacts. Opportunities have more than doubled, and close rates have increased significantly. I’d recommend this software to any company looking to make their sales staff more efficient and effective.”

The full 2023 Customer Impact Report can be viewed here. Please visit zoominfo.com for more information about how ZoomInfo can elevate your go-to-market motion.

About ZoomInfo

ZoomInfo (NASDAQ: ZI) is a leader in modern go-to-market software, data, and intelligence for more than 30,000 companies worldwide. ZoomInfo’s revenue operating system, RevOS, empowers business-to-business sales, marketing, operations, and recruiting professionals to hit their number by pairing best-in-class technology with unrivaled data coverage, accuracy, and depth of company and contact information. With integrations embedded into workflows and technology stacks, including the leading CRM, Sales Engagement, Marketing Automation, and Talent Management applications, ZoomInfo drives more predictable, accelerated, and sustainable growth for its customers. ZoomInfo emphasizes GDPR and CCPA compliance. In addition to creating the industry’s first proactive notice program, the company is a registered data broker with the states of California and Vermont. Read about ZoomInfo’s commitment to compliance, privacy, and security. For more information about ZoomInfo’s leading go-to-market software, data, and intelligence, and how they help sales, marketing, operations, and recruiting professionals, please visit www.zoominfo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005159/en/

Media

Rob Morse

Senior Communications Manager

[email protected]

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Software Search Engine Marketing Marketing Data Management Communications Small Business Professional Services Technology

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CEL-SCI Corporation Reports First Quarter Fiscal 2023 Financial Results

VIENNA, Va.–(BUSINESS WIRE)–
CEL-SCI Corporation (NYSE American: CVM) today reported financial results for the quarter ended December 31, 2022, as well as key clinical and corporate developments.

Clinical and Corporate Developments include:

• Multikine completely cleared cancer in 5 people with advanced head and neck cancer (locally advanced primary squamous cell carcinoma (SCC) of the head & neck (HN)) and 40 patients were partial responders whose tumors were reduced by more than 30% after 3 weeks of treatment with Multikine and prior to standard of care treatment.
  • Complete early tumor responses in 3 weeks have never before been reported in the scientific literature for locally advanced primary head and neck cancer according to medical experts and none were seen in the control group.
  • These data, from CEL-SCI’s Phase 3 head and neck cancer study, were presented by Dr. Philip Lavin in a video that was made public in October 2022. Dr. Lavin is a well-known biostatistician with a long history of supporting clinical trials for product registrations, reimbursements, and public health advancement. He has served on the faculty of Harvard Medical School at the Harvard School of Public Health for over 25 years and advised the U.S. Food and Drug Administration (FDA) from 1983 through 2015 on product approvals.
  • Images were presented in the video that clearly show tumors in patients’ oral cavity prior to treatment with Multikine and the disappearance of these tumors before any subsequent standard of care treatment, confirmed at surgery. The presentation and images can be seen here: LINK

• During the fiscal 2023 first quarter, CEL-SCI focused on assembling the vast body of clinical documentation of a Biologic License Application (BLA) required to obtain FDA approval for commercial marketing of Multikine. Data to be submitted from the Company’s Phase 3 global head and neck cancer of 928 patients include the following:
  • The Multikine-treated study population who received surgery and radiotherapy as their standard of care treatment showed significant advantages over the control group;
  • Nearly four years (46.5 months) median overall survival improvement;
  • 62.7% of Multikine patients were alive after five years vs. 48.6% in the control;
  • Complete tumor disappearance in five patients in just 3 weeks before surgery; and
  • Histopathology analysis showed evidence of Multikine’s mechanism of action at work.

• Data from the Company’s Phase 3 study have already been presented at the American Society of Clinical Oncology (ASCO) and the European Society for Medical Oncology (ESMO) annual meetings in 2022. CEL-SCI continues to submit additional abstracts and manuscripts to peer-reviewed scientific journals and conferences for publishing and presentation. In fact, one of those submissions, which includes data CEL-SCI believes to be very important, is expected to be made public in the near future.

• The Company’s Multikine manufacturing facility is being prepared for inspection by the FDA in advance of Multikine’s commercial launch, pending FDA approval of a BLA.

• As of December 31, 2022, CEL-SCI had $18 million in cash and cash equivalents.

“We are hyper-focused on readying the vast body of data required to achieve a BLA approval from the FDA. Due to the unprecedented size, scope, length of study and nature of our Phase 3 study and the fact that Multikine is intended as a first-line treatment for primary, advanced head and neck cancer, the BLA submission has required tremendous time and effort, including expansion of the team to include independent medical and regulatory experts. We have shown a survival benefit for head and neck cancer patients with an immunotherapy given before surgery—this has never before been done. We are therefore starting from scratch. We remain highly energized and optimistic in our effort, because we believe Multikine can change the paradigm on cancer treatment and help a large number of patients. We look forward to providing updates as we reach milestones in the coming months,” stated CEL-SCI CEO, Geert Kersten.

Financial Results

The Company incurred a net operating loss of approximately $7.7 million for the three months ended December 31, 2022. This net operating loss consists of significant non-cash expenses including approximately $1.7 million in stock-based employee compensation, approximately $1.0 million in depreciation and amortization expense and approximately $0.2 million in other non-cash expenses. The net cash expenditures for the quarter were approximately $4.7 million.

During the three months ended December 31, 2022, research and development expenses decreased by approximately $0.7 million, or 11%, compared to the three months ended December 31, 2021. Major components of this decrease include approximately $0.9 million in employee stock compensation expense and $0.4 million in costs related to the Phase 3 clinical study. These decreases are offset by increases in costs incurred to prepare for the potential commercial sale of Multikine of approximately $0.4 million and other research and development costs of approximately $0.2 million.

During the three months ended December 31, 2022, general and administrative expenses decreased by approximately $0.5 million, or 18%, compared to the three months ended December 31, 2021.

About CEL-SCI Corporation

CEL-SCI believes that boosting a patient’s immune system while it is still intact should provide the greatest possible impact on survival. Therefore, in the Phase 3 study, CEL-SCI studied patients who were newly diagnosed with locally advanced primary squamous cell carcinoma of the head and neck with the investigational product Multikine first, BEFORE they received surgery and radiotherapy or surgery plus concurrent radiotherapy and chemotherapy (the current standard of care for these patients). This approach is unique. Most other cancer immunotherapies are administered only after conventional therapies have been tried and/or failed. Multikine (Leukocyte Interleukin, Injection) received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck. CEL-SCI believes that this Phase 3 study is the largest Phase 3 study in the world for the treatment of locally advanced primary head and neck cancer.

Multikine is designed to help the immune system “target” the tumor at a time when the immune system is still relatively intact and thereby thought to be better able to mount an attack on the tumor. The Phase 3 study was started in early 2011 and was fully enrolled with 928 patients in September 2016. To test for an overall survival benefit, the study required CEL-SCI to wait until at least 298 (deaths) events had occurred among the two main comparator groups.

The Company has operations in Vienna, Virginia, and near/in Baltimore, Maryland.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words “intends,” “believes,” “anticipated,” “plans” and “expects,” and similar expressions, are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such statements include, but are not limited to, statements about the terms, expected proceeds, use of proceeds and closing of the offering. Factors that could cause or contribute to such differences include an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company’s potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI’s filings with the Securities and Exchange Commission, including but not limited to its report on Form 10-K for the year ended September 30, 2022. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

* Multikine (Leukocyte Interleukin, Injection) is the trademark that CEL-SCI has registered for this investigational therapy. This proprietary name is subject to FDA review in connection with the Company’s future anticipated regulatory submission for approval. Multikine has not been licensed or approved for sale, barter or exchange by the FDA or any other regulatory agency. Similarly, its safety or efficacy has not been established for any use.

CEL-SCI CORPORATION CONDENSED STATEMENTS OF OPERATIONS THREE MONTHS ENDED DECEMBER 31, 2022 AND 20201 (UNAUDITED)
	2022				2021
Operating expenses:
Research and development	$	5,392,546			$	6,083,167
General and administrative		2,258,003				2,760,208
Total operating expenses		7,650,549				8,843,375
Operating loss		(7,650,549	)			(8,843,375	)
Other expense		(50,171	)			–
Gain on derivative instruments		–				364,596
Other non-operating gains		–				(30,793	)
Interest expense, net		(152,789	)			(273,034	)
Net loss		(7,853,509	)			(8,782,606	)
Modification of warrants		(171,552	)			–
Net loss available to common shareholders	$	(8,025,061	)		$	(8,782,606	)
Net loss per common share – basic	$	(0.18	)		$	(0.20	)
Weighted average common shares outstanding – basic		43,440,387				43,077,961
Net loss per common share – diluted	$	(0.18	)		$	(0.20	)
Weighted average common shares outstanding – diluted		44,440,387				43,083,420

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005223/en/

Gavin de Windt

CEL-SCI Corporation

(703) 506-9460

www.cel-sci.com

KEYWORDS: United States North America District of Columbia Virginia

INDUSTRY KEYWORDS: Research Surgery FDA Clinical Trials Biotechnology General Health Pharmaceutical Health Science Oncology

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Regions Bank and CRE FinTech Blooma Collaborate to Modernize Lending Workflow

Digital underwriting platform powered by artificial intelligence streamlines CRE lending.

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Regions Bank on Wednesday announced its adoption of Blooma’s commercial real estate (CRE) lending solution, a cloud-based platform that automates manual portions of the lending workflow and connects various tools and data sources to support investor and developer clients with more efficient financing options in the commercial real estate space.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230215005176/en/

“Regions Bank is consistently investing in its specialty capabilities, delivering a more seamless and intuitive client experience that’s backed by the dedication of our experienced banking teams,” said Scott Rhoad, Income Property Finance segment executive for Regions. “Speed, certainty of execution, and innovation are all key components of our value proposition, and combining our financial experience with Blooma’s technology supports an even more seamless client experience. It’s another way we’re leveraging digital transformation to connect Regions’ commercial real estate clients with tailored options and valuable guidance.”

Regions’ Real Estate Banking teams have observed efficiency gains in the pre-screening review of multi-family, office, industrial, and retail transactions and collection of market data as the Blooma system has come online. Some components of the process workflow have been reduced from days to hours, allowing Regions to communicate lending decisions to clients faster.

Specifically, the collaboration with Blooma simplifies processes, improves operational infrastructure, and allows Regions to:

• Evaluate CRE loans against a wide range of configurable parameters
• Quickly parse offering memoranda for key deal information
• Analyze and automatically classify borrower and/or guarantor financials
• Normalize multiple market data sources through a combination of data and analytics

“Blooma is continuously looking for new, innovative ways to automate CRE pre-flight and portfolio monitoring,” said Blooma CEO Shayne Skaff. “It’s always refreshing to meet a commercial bank that is actively looking for avenues to further automate traditionally manual processes within their bank. It was immediately evident in our first meeting with Regions that leadership was proactive and intentional about their pursuit to adopt technology to help advance the business. Together, we are building tomorrow’s CRE lending technology.”

The digital solution offers clients an enhanced banking experience and aligns with Regions’ goal of innovating through technology that makes banking easier. Blooma is not a system or platform that interacts directly with clients; rather, it is a process improvement initiative within Regions’ operations that is helping the bank deliver a simplified – and faster – client experience.

“Regions Bank is driven by a spirit of continuous improvement in how we serve our clients,” Rhoad concluded. “We appreciate the collaboration with Blooma in helping us take the client experience to even higher levels. Our clients experience the difference as we deliver more timely financing decisions while better enabling them to reach their business goals.”

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $155 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

About Blooma

Blooma is a cloud-based lending solution designed to significantly improve loan origination and portfolio monitoring processes for operators in the CRE space. The platform automates the deal evaluation process and empowers users to make informed investment decisions quickly. Lenders on the system have reduced loan origination time by up to 85 percent, enabling an average of 50 percent more transactions with the same headcount. To date, the platform serves multiple commercial banks, private banks and brokers. Learn more at www.blooma.ai.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005176/en/

Jeremy D. King

Regions Bank

205-264-4551

Regions News Online: regions.doingmoretoday.com

Regions News on Twitter: @RegionsNews

KEYWORDS: United States North America Alabama

INDUSTRY KEYWORDS: Commercial Building & Real Estate Technology Construction & Property Finance Fintech Banking Professional Services Software Networks Data Management

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Regions’ Real Estate Banking teams have already seen notable efficiency gains since the adoption of the Blooma solution. Some components of the process workflow have been reduced from days to hours, allowing Regions to communicate lending decisions faster. (Photo: Business Wire)

Masco Corporation to Participate in Fireside Chat at Investor Conference

LIVONIA, Mich.–(BUSINESS WIRE)–
Masco Corporation (NYSE: MAS) today announced that John Sznewajs, Chief Financial Officer, will participate in a live fireside chat at the Barclays Industrial Select Conference in Miami, Florida on Wednesday, February 22, at 1:50 p.m. ET.

The presentation will be webcast live under the Investor Relations section of the Company’s website at www.masco.com. A replay of the webcast will be available until March 22, 2023.

Masco Corporation’s press releases and other information are available under the Investor Relations section of Masco’s website at www.masco.com.

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005166/en/

Investor Contact

David Chaika

Vice President, Treasurer and Investor Relations

313.792.5500

[email protected]

KEYWORDS: Florida Michigan United States North America

INDUSTRY KEYWORDS: Interior Design Other Construction & Property Architecture Residential Building & Real Estate Construction & Property

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Celanese Announces a Research Agreement with Johns Hopkins University to Advance Sustained Ocular Drug Delivery to the Suprachoroidal Space

Work may provide insights to help improve treatment paradigm for retinal disorders

DALLAS–(BUSINESS WIRE)–Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, today announced an agreement with Johns Hopkins University Department of Ophthalmology to collaborate on a study of sustained drug delivery to the suprachoroidal space in the eye.

Direct administration of therapeutics to the suprachoroidal space is growing more common as an approach for the treatment of retinal disorders. Treatment currently consists of frequent ocular injections performed at the physician’s office. A bioinert implant based on the VitalDose® platform can provide sustained ocular drug delivery for greater than six months, providing an alternative approach for reliable, continuous dosing and reducing the treatment burden for the patient.

The VitalDose® Drug Delivery Platform independently has proven biocompatibility and achieves greater than six months release of mAbs, peptides, small molecules and RNAi therapeutics, making it suitable for delivering a variety of therapeutics used for ophthalmologic conditions.

“Our collaboration with John Hopkins Department of Ophthalmology allows us to seek out scientific advancements with potential to improve patient health in ophthalmology,” said Cyonna Holmes, global business strategy leader for ophthalmology at Celanese. “The VitalDose® technology platform has potential well beyond its present commercialized applications. That’s why we explore collaborations that cross traditional boundaries with the goal to realize improvements in patient compliance and health through innovative treatments in areas like ophthalmology, women’s health, rare diseases and the central nervous system.”

Scientists at the Celanese Development & Feasibility Lab will independently conduct portions of the planned research in this dedicated pharmaceutical facility. Since opening in 2021, the lab has provided customized support to accelerate customers’ long-acting drug delivery development programs. Services include material characterization; injection molding, hot-melt extrusion and other prototyping capabilities; monolithic or multi-layer drug-loaded prototypes; in vitro characterization and drug release studies; and tooling design and development.

The VitalDose® Drug Delivery Platform provides reliable, controlled-release performance and has a long history of use in approved parenteral drug products in the United States and Europe. For more information on Celanese VitalDose® technology, visit www.vitaldose.com.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese’s global chemistry, technology, and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 13,000 employees worldwide and had 2021 net sales of $8.5 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005105/en/

Investor Relations

Brandon Ayache

+1 972 443 8509

[email protected]

Media Relations – Global

Brian Bianco

+1 972 443 4400

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Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

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Informatica to Present at Upcoming Investor Conferences

REDWOOD CITY, Calif.–(BUSINESS WIRE)–
Informatica (NYSE: INFA),an enterprise cloud data management leader, today announced that management is scheduled to present at the following investor conferences:

Wolfe Research Software Conference in New York

Date: Tuesday, February 28, 2023

Hosting group meetings

Morgan Stanley Technology, Media and Telecom Conference in San Francisco

Date: Thursday, March 9, 2023

Time: 1:05 p.m. PT/ 4:05 p.m. ET for approximately 30 minutes

Webcast: investors.informatica.com

About Informatica

Informatica (NYSE: INFA), an Enterprise Cloud Data Management leader, brings data to life by empowering businesses to realize the transformative power of their most critical information. We have pioneered a new category of software, the Informatica Intelligent Data Management Cloud™ (IDMC), powered by AI and an end-to-end data management platform that connects, manages and unifies data across any multi-cloud, hybrid system, democratizing data to modernize and advance their business strategies. Customers in more than 100 countries and 85 of the Fortune 100 rely on Informatica to drive data-led digital transformation. Informatica. Where data comes to life.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005191/en/

Investor Relations

Victoria Hyde-Dunn

[email protected]

Media Relations

[email protected]

KEYWORDS: United States North America California New York

INDUSTRY KEYWORDS: Data Management Security Technology Software Networks Artificial Intelligence Internet

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Posted on February 15, 2023 9:05 am

Volta Powers the City of Irving’s Community EV Charging Infrastructure Plan Using PredictEV® Services

Volta Powers the City of Irving’s Community EV Charging Infrastructure Plan Using PredictEV® Services

Data-driven plan positions Irving for future grant opportunities, including the Bipartisan Infrastructure Law’s Discretionary Grant Program for community charging

PredictEV utilized to identify EV charging needs in disadvantaged communities to align city’s plan with the federal government’s Justice40 initiative

NEW YORK–(BUSINESS WIRE)–
Volta Inc. (NYSE: VLTA) (“Volta”), an industry-leading electric vehicle (EV) charging and media company, today announced it will utilize its proprietary infrastructure planning service, PredictEV®, to conduct a robust EV charging needs assessment with the City of Irving, Texas.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230215005100/en/

Volta Powers the City of Irving’s Community EV Charging Infrastructure Plan Using PredictEV® Services (Photo: Business Wire)

PredictEV will provide data-driven insight into Irving’s optimal charging infrastructure strategy based on current and future EV driver needs, including within disadvantaged communities. Irving’s Transportation and Natural Resources Committee will use this data to develop a comprehensive infrastructure plan. This plan positions Irving to apply for possible federal and state grants in the future, including the Discretionary Grant Program for Charging and Fueling Infrastructure, which allocates $1.25B to community charging under the Bipartisan Infrastructure Law (BIL).

“As electric vehicles become more popular in North Texas, it’s prudent that Irving develops a comprehensive and efficient infrastructure roadmap to support them,” said Rick Stopfer, Mayor of the City of Irving. “The assessment will provide data and analysis that can be included in our infrastructure strategy for the entire city so we can address the needs of electric vehicle drivers in Irving.”

Volta’s PredictEV is an advanced infrastructure planning solution that analyzes disparate data sources, including local mobility, demographic, commercial, and site-specific data, to provide high-resolution answers to key EV infrastructure questions around expected EV adoption, optimal charger quantity and locations, the right mix of charging infrastructure, and anticipated energy requirements from the grid. Volta recently introduced PredictEV’s ability to precisely identify optimal charger locations and charging speeds in disadvantaged communities. This analytical capability aligns with the federal government’s Justice40 goal, which seeks to ensure that 40 percent of the overall benefits of certain federal investments, including the BIL and Inflation Reduction Act (IRA), flow to disadvantaged communities.

Volta’s collaboration with Irving is the latest example of the company’s commitment to public-private partnerships that align with the $7.5B in grants the federal government has allocated toward public EV charging infrastructure buildout. PredictEV has also been used by Alabama’s Department of Economic and Community Affairs (ADECA) to develop its Electric Vehicle Infrastructure Plan, and its insights informed Volta’s collaboration with the State of Michigan and DTE Energy. Southern Company, Southern California Edison, and Tucson Electric Power also use the tool to support and inform EV charging initiatives.

“Local governments are finalizing their strategies for deploying the upcoming wave of community charging grant funding under the Discretionary Grant Program for Charging and Fueling Infrastructure. PredictEV ensures these governments have access to valuable data and create applications that fulfill federal requirements when executing their plans,” said Brandt Hastings, Chief Commercial Officer at Volta. “As Volta’s latest collaboration with the City of Irving demonstrates, we are committed to public-private partnerships that build a clean, more sustainable future for all communities.”

Volta’s continued work with government agencies supports its Charging For All initiative, the company’s commitment to delivering affordable, reliable, and equitable charging across the United States.

About Volta

Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging and media company. Volta’s unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta’s extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding our electric vehicle charging and media network. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2022 and June 30, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.voltacharging.com. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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Lucas Piazza

[email protected]

KEYWORDS: United States North America Texas New York

INDUSTRY KEYWORDS: Public Policy/Government Automotive State/Local Technology EV/Electric Vehicles Other Technology

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Volta Powers the City of Irving’s Community EV Charging Infrastructure Plan Using PredictEV® Services (Photo: Business Wire)