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LOS ANGELES, May 3, 2021 /PRNewswire/ — The DoubleLine Opportunistic Credit Fund (the “Fund”), which is traded on the New York Stock Exchange under the symbol DBL, this week declared a distribution of $0.11 per share for the month of May 2021. The distribution is subject to the following ex-dividend, record and payment dates set by the Fund’s Board of Trustees.

This news release is not for tax reporting purposes. The release has been issued to announce the amount and timing of the distributions declared by the Board of Trustees. There is a possibility that distributions may include ordinary income, long-term capital gains or return of capital. The amount of distributable income and the tax characteristics of the distributions are determined at the end of the taxable year. In early 2022, the Fund will send shareholders a Form 1099-DIV specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return.

About DoubleLine
Opportunistic Credit Fund

The DoubleLine Opportunistic Credit Fund (the “Fund”) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek high total investment return by providing a high level of current income and the potential for capital appreciation. There is no guarantee that the Fund will achieve its investment objective. Investing in the Fund involves the risk of principal loss.

About DoubleLine Capital LP

DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine’s offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. Media can reach DoubleLine by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.

To read about the DoubleLine Opportunistic Credit Fund, please access the Annual Report at www.doublelinefunds.com or call 877-DLINE11 (877-354-6311) to receive a copy. Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. An investment in the Fund should not constitute a complete investment program.

This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale or offer of these securities, in any jurisdiction where such sale or offer is not permitted.

Fund investing involves risk. Principal loss is possible.

Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with investment in the fund.

Investments in debt securities typically decline in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.
Past performance is no guarantee of future results. The fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decisions-making, economic or market conditions or other unanticipated factors. In addition, the Fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives and smaller companies which include additional risks.
The DoubleLine Opportunistic Credit Fund (the “Fund”) is a diversified, closed-end management investment company.

This material may include statements that constitute “forward-looking statements” under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates, and information about possible or future results related to the Fund, market or regulatory developments. The views expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the views expressed herein. The views expressed herein are subject to change at any time based upon economic, market, or other conditions and DoubleLine undertakes no obligation to update the views expressed herein. While we have gathered this information from sources believed to be reliable, DoubleLine cannot guarantee the accuracy of the information provided. Any discussions of specific securities should not be considered a recommendation to buy or sell those securities. The views expressed herein (including any forward-looking statement) may not be relied upon as investment advice or as an indication of the Fund’s trading intent. Information included herein is not an indication of the Fund’s future portfolio composition.

Distributions include all distribution payments regardless of source and may include net income, capital gains, and/or return of capital (ROC). ROC should not be confused with yield or income. A Fund’s Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting www.doublelinefunds.com. Final determination of a distribution’s tax character will be made on Form 1099 DIV and sent to shareholders. On a tax basis, as of April 30, 2020, the most recent available figure, the estimated component of the cumulative distribution for the fiscal year to date would include an estimated return of capital of $0.000 (0%) per share. This amount is an estimate and the actual amounts and sources for tax reporting purposes may change upon final determination of tax characteristics and may be subject to changes based on tax regulations.

Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.

Quasar Distributors, LLC provides filing administration for DoubleLine Capital LP.

©2021 DoubleLine Capital LP.

 

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SOURCE DoubleLine

HARTFORD, Conn., May 3, 2021 /PRNewswire/ — Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that Rick Smirl has joined the company as executive vice president, chief operating officer, and member of the senior leadership team.

Smirl, who has more than 20 years of experience in the asset management industry, will lead the company’s product management, oversight, and development activities and have responsibility for the investment operations and information technology functions. He will also work with affiliated managers and subadvisers as the company focuses on continuing to grow by developing and introducing compelling new products and further optimizing business support services. He assumes responsibilities previously managed by Frank Waltman, executive vice president, who retired in March after 30 years of service.

Smirl joins Virtus from Russell Investments, where he was chief operating officer and oversaw all facets of the company’s global operations, including information technology, operations, fund services, legal, compliance, risk management, internal audit, project management, reporting and analytics, corporate services, sourcing and procurement, and government and community relations.

“Rick brings a wealth of knowledge of the asset management industry to Virtus, and has deep experience in all aspects of the business, from product development, investment and business operations and corporate services to leading transformational technology projects supporting business strategy and growth,” said George R. Aylward, president and chief executive officer. “He has proven himself to be a well-respected and trusted leader and will be a strong addition to our management team as we continue to execute on our long-term strategic priorities, including broadening the distinctive investment capabilities we offer to individual and institutional clients and leveraging the benefits of our operating model.”

Prior to joining Russell Investments, Smirl was chief operating officer and partner at William Blair Investment Management, where he led the firm’s operations, product development, fund services, finance, business analysis, risk management, and technology teams. Smirl joined William Blair Investment Management as chief legal counsel after serving as chief legal officer at Strong Capital Management. He began his career at a Los Angeles law firm where he counseled financial services firms and specialized in securities law.

Smirl holds a bachelor’s degree in economics from the University of California at Irvine and earned a J.D. from Loyola Law School in Los Angeles. He also has completed an executive education program at the University of Virginia’s Darden Graduate School of Business Administration. He has been a member of the board of the University of Washington’sFoster School of Business and of Christopher House, a Chicago-based non-profit organization that helps low-income, at-risk individuals and families succeed in school and the workplace.

About Virtus Investment Partners, Inc.

Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Virtus’ affiliates include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, and Sustainable Growth Advisers. Additional information can be found at virtus.com.

 

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SOURCE Virtus Investment Partners, Inc.

COLUMBUS, Ohio, May 3, 2021 /PRNewswire/ — AEP Energy, a subsidiary of American Electric Power (Nasdaq: AEP) and one of the largest electric energy wholesale and retail suppliers in the U.S., and Global Energy Generation LLC (Doral LLC), a leading developer of renewable energy projects, primarily in the Midwest and Mid-Atlantic regions, announced today that they have signed a long-term renewable energy purchase agreement for the Mammoth Solar project in Indiana.

Mammoth Solar 1, a 480 megawatt direct current (MWdc) solar energy project, is the first phase of the 1.65 gigawatt direct current (GWdc) Mammoth project being developed by Doral LLC. The Mammoth solar project covers more than 12,000 acres in Starke and Pulaski counties in northern Indiana.

Mammoth Solar 1 is expected to begin construction during the fourth quarter of 2021 and reach commercial operation by the second quarter of 2023.

“AEP Energy is focused on providing customers with integrated, carbon-free energy supplies that deliver long-term price stability while benefitting the environment and surrounding communities. Agreements like the one with Doral LLC demonstrate how our innovative energy solutions can support the development of new renewable clean energy resources, boost local economies and help our customers power their homes and businesses with clean, reliable energy,” said Greg Hall, president, AEP Energy.

“This is one of the largest solar power purchase agreements in the PJM market.  Mammoth 1 will displace 40,000 tons of greenhouse gas emissions and save 1 billion gallons of irrigation well water annually. Reduced farming chemicals and fertilizers along with allowing the land to be fallow, like in a CRP program, will only enhance the quality of the land for future generations. The investment of hundreds of millions of dollars into the community will create jobs and uplift the economy,” said Nick Cohen, President & CEO, Global Energy Generation (Doral LLC). 

“Doral LLC, the entrepreneurial platform, of Doral Renewable Energy Resources Group Ltd (Doral Group) in the U.S., is continuing its rapid growth in the region,” said Yaki Noyman, chief executive officer of Doral Renewable Energy Resources Group. “This is another significant milestone in Doral LLC’ strategy to develop, execute and operate quality large-scale utility renewable energy projects.”

AEP Energy, a subsidiary of American Electric Power (Nasdaq: AEP), is a certified competitive retail electricity and natural gas supply provider operating in 27 service territories in six states and Washington, D.C. AEP Energy supplies electricity and natural gas solutions for more than 500,000 residential and business customers and takes pride in making it easy for customers to buy, manage and use energy. Based in Columbus, Ohio, and Chicago, AEP Energy is committed to excellence by delivering value, innovative energy solutions and excellent customer service. 

Doral LLC was founded in 2019 as a joint venture between Doral Group and Clean Energy Generation LLC. Doral LLC currently has over 3 GWdc of projects under development and 30,000 acres of land control, mainly in Midwest and Mid-Atlantic U.S. The management team of Doral LLC includes experienced multidisciplinary individuals who worked together for many years in the renewables industry in the US.

Doral Group, is a publicly traded company on the Tel Aviv Stock Exchange in Israel (DORL) and is a global renewable energy leader, holding hundreds of long-term revenue generating renewable energy assets. With over 6 GWdc under development, Doral Group is active, inter alia, in Israel, Europe, and the United States. Doral Group is also emerging as a worldwide leader in the field of solar + storage solutions, following its win of Israel’s biggest solar + storage tenders to build approximately 800MW(DC) + 1,500MW of storage facilities in Israel.

 

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SOURCE American Electric Power

SPRINGDALE, Ark., May 3, 2021 /PRNewswire/ — Raised & Rooted™ brand, Tyson Foods’ (NYSE: TSN) brand of plant protein products, is expanding its offerings with three new products to meet the increased demand for plant-based protein options. The new plant-based burger patties, Bratwurst and Italian sausages, and ground are available in the refrigerated section of grocery stores nationally.

“Our products are plants made meatier, and deliver the same delicious flavors, in a better-for-you alternative,” said David Ervin, vice president of marketing, Raised & Rooted. “We are excited to provide people with satisfying alternative protein options perfect for any occasion.”

Plants Made Meatier for Grilling Moments

While there are more plant-based options available for consumers today, few are made for those looking to fire up their grills. In a recent survey, nearly half of Americans noted a desire for more satisfying, plant-based options for the grill.¹

The Raised & Rooted brand is delivering on those desires with the introduction of its plant-based burger patties and sausages. Made from pea protein, and soy free, the new refrigerated plant protein options are chef inspired, with the seasoning and texture to deliver a mouthwatering taste experience for meat and plant eaters alike.

With 17g – 21g of protein per serving, the patties and sausages provide an excellent source of protein with 75 percent less saturated fat than traditional options.

Plants Made Meatier for Mealtime Inspiration

Plant-based protein sales increased 148 percent year-over-year* with at-home cooking increasing exponentially and consumers seeking a variety of new options for their weekday meal inspiration.

The Raised & Rooted brand is expanding its portfolio of everyday favorites, Nuggets, Spicy Nuggets, and Whole-Grain Tenders, with new plant-based ground. Also made from pea protein, and soy free, the refrigerated ground cooks-up easily in a skillet and provides 23g of protein per serving while delivering a delicious, better-for-you option for any favorite recipe.

Commitment to Growth & Innovation

The Raised & Rooted brand was introduced in 2019, and is committed to providing plant-based options that deliver the taste and quality people are seeking and expanding its portfolio across both frozen and refrigerated innovations, with additional new product innovations to come later this summer.

The brand has also seen impressive growth in its first year with availability at more than 10,000 retail stores and online and expanding globally from the U.S. into Europe.

“We are excited about the momentum we’ve built over the past year, fueled by our growth at retail, and our ability to continue to meet consumer’s demands,” added Ervin. “Raised & Rooted was created to provide plant-based options for everyone, and our new products are the next step toward meeting that goal while remaining steadfast to our commitment to providing great tasting alternative options.”

New Raised & Rooted™ brand plant-based refrigerated options are available nationwide and are priced competitively between $4.99 and $7.99 per package. For more information on Raised & Rooted brand, and to where to locate products, visit: www.raisedandrooted.com.

*2020 v. 2019

About Raised & Rooted

The Raised & Rooted brand was created by Tyson Foods to bring the power of plant protein to everyone and provide great-tasting plant-based foods that are rooted in how people eat today. Raised & Rooted products include plant-based Nuggets and Tenders in the U.S., and plant-based Nuggets, Fries, Popcorn and Tortilla Nachos in Europe. The Raised & Rooted brand of fresh and frozen meat alternatives are sold at more than 10,000 retailer stores in the U.S. and online, and through retail and foodservice operators in Europe. Visit: www.raisedandrooted.com and follow @raisedandrooted on Facebook and Instagram.

¹This survey was conducted using the field services of Engine Insights CARAVAN. Results are based on a sample of 1,004 adults. The online omnibus study is conducted among a demographically representative sample of U.S. adults 18 years of age and older. This survey was live on March 31 – April 2, 2021. Completed responses are weighted by five variables: age, sex, geographic region, race, and education to ensure reliable and accurate representation of the total U.S. population, 18 years of age and older.

CATEGORY: IR, Newsroom

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SOURCE Raised & Rooted

CAMBRIDGE, Mass., May 3, 2021 /PRNewswire/ — Forrester (Nasdaq: FORR) today announced Forrester Decisions, a new customer-obsessed research product portfolio designed for leaders and their teams to shorten the distance between bold vision and superior business impact. To celebrate the milestone, Forrester CEO and Chairman George F. Colony is ringing the Nasdaq opening bell virtually and announcing the launch at Forrester’s B2B Summit North America, the must-attend event for B2B marketing, sales, and product leaders.

The pandemic has driven massive changes in consumer behaviors, experiences, work, technology, and business resilience, forcing firms to adapt their business strategies and accelerate the need for customer-obsessed strategies. According to Forrester, customer-obsessed organizations — those that put customers at the center of their leadership, strategy, and operations — grow revenue, profits, and employee engagement and retain customers at more than twice the rate of other firms.

To successfully navigate these changes, leaders require insights, best practices, and guidance steeped in customer obsession and focused on the priorities they are tackling today, such as innovating with technology, designing experiences that drive loyalty, and earning brand devotion.

“Today’s post-pandemic world is requiring leaders to make bold decisions, chart new paths, and execute quickly,” said George F. Colony. “But they shouldn’t have to go it alone. For over 35 years, global leaders have relied on Forrester to see around corners and understand what’s next. Now, with Forrester Decisions, we will help them anticipate those market-changing trends and tackle today’s priorities. This new research portfolio is transformational in how we work with and guide our clients and accelerate their growth.”

Forrester Decisions will help executives, functional leaders, and their teams — across technology, marketing, customer experience (CX), sales, and product management — plan and pursue their most pressing initiatives for driving growth in a post-pandemic world.

Additionally, these new services combine Forrester’s proven track record of providing objective, visionary thought leadership with industry-leading frameworks, models, and methodologies gained through the company’s acquisition of SiriusDecisions. Every Forrester Decisions service is built to address business priorities specific to a functional discipline, empowering leaders and their teams to move quickly, de-risk decisions, and save time and money through:

• Bold vision research. Stay ahead of changing customer and market dynamics, plan for the future, and set strategy with research such as customer insights, trends and predictions, forecasts, and technology and service provider landscapes.
• Curated tools and frameworks. Conquer priorities and deliver on strategies with proven models, toolkits, and plug-and-play templates. Examples include the Forrester B2B Revenue Waterfall, to prioritize buyer engagement and maximize deal conversions; the CX Management Maturity Model, to plot maturity on the journey to CX transformation; and the Future Fit Technology Strategy Model, to build adaptive, creative, and resilient enterprises.
• Hands-on guidance. Accelerate progress and de-risk decisions with a curated and tailored experience that includes dedicated best-practice guidance sessions from Forrester experts.

The new portfolio will also offer an enhanced digital platform, with tools for team members to collaborate within their function and across the organization, as well as new data and certification course content.

Availability:

Forrester Decisions services will be available in August 2021.

Resources:

• Learn about Forrester Decisions.
• Read Forrester CEO George Colony’s blog post on the announcement of Forrester Decisions.

About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, marketing, customer experience, product, and sales functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 675,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; over 52 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the availability and capabilities of the Forrester Decisions service. These statements are based on Forrester’s current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, the impact of health epidemics, including COVID-19, on Forrester’s business; Forrester’s ability to retain and enrich memberships for its research products and services; technology spending; Forrester’s ability to respond to business and economic conditions and market trends; the risks and challenges inherent in international business activities; the exit of the United Kingdom from the European Union; Forrester’s ability to offer new products and services; Forrester’s dependence on key personnel; Forrester’s ability to attract and retain professional staff; Forrester’s ability to anticipate and respond to market trends; Forrester’s ability to successfully integrate businesses that it acquires; the impact of Forrester’s outstanding debt obligations; the possibility of network disruptions and security breaches; competition and industry consolidation; any failure to enforce and protect Forrester’s intellectual property rights; privacy laws; possible variations in Forrester’s quarterly operating results; taxation risks; concentration of ownership of Forrester; and any weakness in Forrester’s system of internal controls. Forrester undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester’s reports and filings with the Securities and Exchange Commission.

Contact:

Shweta Agarwal

[email protected]

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SOURCE Forrester

JACKSONVILLE, Fla., May 3, 2021 /PRNewswire/ — Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based upon the company’s industry-leading mortgage, real estate and public records datasets. In light of March’s 16.4% decline in delinquencies – as reported in Black Knight’s First Look at the month’s data – this month’s report drills deeper into what that may mean for the market. According to Black Knight Data & Analytics President Ben Graboske, both the company’s full-month data for March and its unique McDash Flash daily performance tracking data for April suggest strengthening economic trends are now manifesting in the mortgage market.

“Not only did March see the largest single-month improvement in delinquencies in 11 years, but all indications suggest more is yet to come,” said Graboske. “Several factors contributed to particularly strong mortgage performance in March, including the distribution of 159 million stimulus payments totaling more than $376 billion, broader economic improvement leading to nearly a million new jobs and 1.2 million forbearance plans reviewed for extension or removal, resulting in an 11% decline in plan volumes in the last 30 days.  As many early forbearance plan adopters shifted to post-forbearance waterfalls to get back to performing on their mortgage payments, inflow has continued to steadily improve as well. And, of the 7.1 million homeowners who have been in COVID-19 forbearance at one point or another, performance among those who have left plans has generally been strong.

“Some other key metrics also point to a robust recovery under way. Despite mortgage delinquencies tending to trend seasonally upward starting in April, our McDash Flash daily performance dataset instead shows strong early payment activity for the month. Through April 23, 91.6% of mortgage holders had made their monthly payments, up from 91% in March and the largest share for any month since the onset of the pandemic. That said, while overall sentiment for an economic recovery in 2021 remains robust, mortgage performance is expected to run into seasonal headwinds for most of the remainder of the year, which could marginally dampen overall improvement rates. Black Knight will continue to monitor the situation as we move forward.”

The report’s data showed that the number of borrowers with a single payment past due fell by 34% from February and is now down 50% from the same time last year to hit an all-time low in March. Though 60-day delinquencies are also now back below pre-pandemic levels and near record lows as well, the number of homeowners 90 or more days past due remains nearly five times what it was prior to COVID. One possibility for early-stage delinquencies falling well below pre-pandemic levels could be an elevated share of borrowers are rolling forward to later stages of delinquency – when they otherwise might not – due to participation in available forbearance programs. Much more detail can be found in Black Knight’s February 2021Mortgage Monitor Report.

About the Mortgage Monitor

The Data & Analytics division of Black Knight manages the nation’s leading repository of loan-level residential mortgage data and performance information covering the majority of the overall market, including tens of millions of loans across the spectrum of credit products and more than 160 million historical records. The combined insight of the Black Knight HPI and Collateral Analytics’ home price and real estate data provides one of the most complete, accurate and timely measures of home prices available, covering 95% of U.S. residential properties down to the ZIP-code level. In addition, the company maintains one of the most robust public property records databases available, covering 99.9% of the U.S. population and households from more than 3,100 counties.

Black Knight’s research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for the monthly Mortgage Monitor Report. To review the full report, visit: https://www.blackknightinc.com/data-reports/

About Black Knight

Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com/.

 

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SOURCE Black Knight, Inc.

LOUISVILLE, Colo., May 3, 2021 /PRNewswire/ — Solid Power, an industry-leading producer of all solid-state batteries for electric vehicles, today announced a $130 million Series B investment round led by the BMW Group, Ford Motor Company and Volta Energy Technologies. Ford and the BMW Group have also expanded existing joint development agreements with Solid Power to secure all solid-state batteries for future electric vehicles.

The investment positions Solid Power to produce full-scale automotive batteries, increase associated material output and expand in-house production capabilities for future vehicle integration. The BMW Group and Ford aim to utilize Solid Power’s low-cost, high-energy all solid-state battery technology in forthcoming electric vehicles.

“BMW and Ford now share leading positions in the race for all solid-state battery-powered electric vehicles,” said Doug Campbell, CEO and co-founder of Solid Power. “Solid Power now plans to begin producing automotive-scale batteries on the company’s pilot production line in early 2022 as a result of our partners’ continued commitment to Solid Power’s commercialization efforts.”

Solid Power has demonstrated its ability to produce and scale next-generation all solid-state batteries that are designed to power longer range, lower cost and safer electric vehicles using existing lithium-ion battery manufacturing infrastructure.

Solid Power’s leadership in all solid-state battery development and manufacturing has been confirmed with the delivery of hundreds of production line-produced battery cells that were validated by Ford and the BMW Group late last year, formalizing Solid Power’s commercialization plans with its two long-standing automotive partners. 

“Solid-state battery technology is important to the future of electric vehicles, and that’s why we’re investing directly,” said Ted Miller, Ford’s manager of Electrification Subsystems and Power Supply Research. “By simplifying the design of solid-state versus lithium-ion batteries, we’ll be able to increase vehicle range, improve interior space and cargo volume, deliver lower costs and better value for customers and more efficiently integrate this kind of solid-state battery cell technology into existing lithium-ion cell production processes.”

“Being a leader in advanced battery technology is of the utmost importance for BMW. The development of all solid-state batteries is one of the most promising and important steps towards more efficient, sustainable, and safer electric vehicles. We now have taken our next step on this path with Solid Power,” said Frank Weber, Member of the Board of Management BMW AG, Development. “Together we have developed a 20 Ah all solid-state cell that is absolutely outstanding in this field. Over the past 10 years BMW has continuously increased the battery cell competence– important partners like Solid Power share our vision of a zero-emission mobility.”

Solid Power is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries on the company’s continuous roll-to-roll production line, which exclusively utilizes industry standard lithium-ion production processes and equipment.

Both Ford and the BMW Group will receive full-scale 100 Ah cells for automotive qualification testing and vehicle integration beginning in 2022. Solid Power’s all solid-state platform technology allows for the production of unique cell designs expected to meet performance requirements for each automotive partner. Solid Power’s truly all-solid cell designs achieve higher energy densities, are safer and are expected to cost less than today’s best-performing lithium-ion battery cells.

“Volta invested early in Solid Power when our team of energy and commercialization experts found they had not only promising technology, but also a fundamental focus on manufacturability. After all, a breakthrough battery will not find a place in the market if it can’t be produced at scale with acceptable costs,” said Dr. Jeff Chamberlain, CEO of Volta Energy Technologies, a venture capital firm spun out of the U.S. Department of Energy’s Argonne National Laboratory focused on investing in breakthrough energy storage and battery innovations. “The fact that Solid Power is already producing multi-layer all solid-state batteries using industry-standard automated commercial manufacturing equipment is why Volta is excited to ramp up its earlier investment. The company’s partnership with BMW and Ford will further accelerate the full commercialization of Solid Power’s batteries and position both car companies to be among the first to have EVs on the road powered by safer, affordable, high-energy solid-state batteries.”

About Solid Power
Solid Power is an industry-leading producer of all solid-state rechargeable batteries for electric vehicles and mobile power markets. Solid Power replaces the flammable liquid electrolyte in a conventional lithium-ion battery with a proprietary sulfide solid electrolyte. As a result, Solid Power’s all solid-state batteries are safer and more stable across a broad temperature range, can provide a 50-100% increase in energy density compared to the best available rechargeable batteries, enable cheaper, more energy-dense battery pack designs and are compatible with traditional lithium-ion manufacturing processes. For more information, visit http://www.solidpowerbattery.com/

About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford trucks, utility vehicles, and cars – increasingly including electrified versions – and Lincoln luxury vehicles; provides financial services through Ford Motor Credit Company; and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected vehicle services. Ford employs approximately 186,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit corporate.ford.com.

About the BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2020, the BMW Group sold over 2.3 million passenger vehicles and more than 169,000 motorcycles worldwide. The profit before tax in the financial year 2020 was € 5.222 billion on revenues amounting to € 98.990 billion. As of 31 December 2020, the BMW Group had a workforce of 120,726 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com

About Volta Energy Technologies
Volta Energy Technologies is a venture capital firm that identifies and invests in battery, energy storage and related technologies. Spun out from the U.S. Department of Energy’s Argonne National Laboratory in 2016, and led by a team of energy storage technology experts and investment industry veterans, Volta employs a technoeconomic diligence model that aims to invest in companies that have demonstrated valuable breakthroughs with a clear path to commercial reality. Volta is backed by corporate strategic investors Albemarle, Exelon, Equinor Ventures and Hanon Systems and manages the Volta Energy Storage Fund for a syndicate of financial investors. To learn more, visit plusvolta.com and follow @VoltaLink on Twitter.

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SOURCE Solid Power

NEW YORK, May 3, 2021 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Athenex, Inc. (“Athenex” or the “Company”) (NASDAQ: ATNX) from August 7, 2019 through February 26, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Western District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchased Athenex securities, and/or would like to discuss your legal rights and options please visit Athenex Shareholder Class Action Lawsuit or contact Joseph R. Seidman, Jr., toll free at (877) 779-1414 or [email protected].

The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors: (i) the data included in the Oral Paclitaxel plus Encequidar NDA presented a safety risk to patients in terms of an increase in neutropenia-related sequalae; (ii) the uncertainty over the results of the primary endpoint of objective response rate (ORR) at week 19 conducted by BICR;  (iii) the BICR reconciliation and re-read process may have introduced unmeasured bias and influence on the BICR; (iv) that the Company’s Phase 3 study that was used to file the NDA was inadequate and not well-conducted in a patient population with metastatic breast cancer representative of the U.S population, such that the FDA would recommend a new such clinical trial; (v) as a result, it was foreseeable that the FDA would not approve the Company’s NDA in its current form; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Before the markets opened on March 1, 2021, Athenex issued a press release entitled “Athenex Receives FDA Complete Response Letter for Oral Paclitaxel Plus Encequidar for the Treatment of Metastatic Breast Cancer.” The release provided that “[i]n the CRL, the FDA indicated its concern of safety risk to patients in terms of an increase in neutropenia-related sequalae in the Oral Paclitaxel arm compared with the IV paclitaxel arm. The release also disclosed that the “[t]he [FDA] stated that the BICR reconciliation and re-read process may have introduced unmeasured bias and influence on the BICR.” Finally, the Company stated that the FDA “recommended that Athenex conduct a new adequate and well-conducted clinical trial in a patient population with metastatic breast cancer representative of the population of the U.S.”

On this news, the price of Athenex’s shares plummeted from their February 26, 2021 closing price of $12.10 per share to a March 1, 2021 close of just $5.46 each. This represents a one-day drop of approximately 55%, representing hundreds of millions of dollars in lost market capitalization.

If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Athenex securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/athenexinc-atnx-shareholder-class-action-lawsuit-fraud-stock-372/apply/ or Joseph R. Seidman, Jr., toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Joseph R. Seidman, Jr.,
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

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SOURCE Bernstein Liebhard LLP

COLUMBIA, S.C., May 3, 2021 /PRNewswire/ — Digital manufacturing solutions company ZVerse, Inc. has announced the launch of a landmark automation-assisted conversion that creates 3D Computer Aided Design (CAD) assets from 2D technical drawing files. A lack of 3D digital files is one of the largest obstacles to digital manufacturing and on-demand Maintenance, Repair, and Overhaul (MRO) part production at scale.

For supply chain, advanced manufacturing, sustainability, and field service teams at OEM and industrial organizations seeking to increase deployed and fleet equipment uptime, this breakthrough assesses original 2D engineering files to generate a rapid 2D to 3D conversion project quote, then creates 3D manufacturing assets that can be stored in a digital library. Field and repair technicians can then quickly access files to request and manufacture a part from anywhere with a secure network connection.

ZVerse’s breakthrough 2D to 3D automation enables manufacturing engineers and industrial designers to speed the legacy file conversion process for MRO parts, resulting in project time and cost savings while delivering reliable geometric accuracy. ZVerse’s solution maximizes customer operations resources by eliminating the foundational step of re-drawing part geometries at current manufacturing software standards, resulting in an average 35-50% reduction in comparative project time.

“ZVerse has been doing this work for years, converting 2D files to 3D through our on-demand design services. We know the areas where you can drive automation and drive the biggest impact in workflow,” said ZVerse President David Craig. “We have also learned that the greatest time spent in the conversion process can be automated and we now have automated those steps. We are committed to driving even more types of automation in, and around, this critical business need.”

As the foundation of the company’s solutions for digital manufacturing, this service enables ZVerse customers to accelerate digital manufacturing and supply chain initiatives for reduced equipment downtime, lower inventory carrying, material, and production costs, and to directly address Right to Repair compliance, sustainability, and circular economy goals.

ZVerse and industry representatives will be addressing these topics and answering questions at an upcoming webinar on 06/01/21 titled, “Delivering on MRO: How Digital Manufacturing is Making Maintenance, Repair, and Overhaul a Reality.”

Register for Webinar: http://bit.ly/MRO-event-registration
More About 2D to 3D & Download our Whitepaper: http://bit.ly/learn-more-2d-to-3d

About ZVerse
ZVerse helps teams solve 3D content creation and scale challenges in digital manufacturing and supply chain. For companies leveraging digital manufacturing for service and Maintenance, Repair, and Overhaul (MRO) part production, ZVerse’s “2D to 3D” automation-assisted solution converts legacy 2D part drawings into usable 3D Computer Aided Design (CAD) manufacturing assets. ZVerse solutions for digital manufacturing innovation help bring ideas to reality.
Learn more at zverse.com.

CONTACT: Laura Watford
803-995-8873 | [email protected]

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SOURCE ZVerse, Inc.