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Broomfield, Colorado, March 15, 2021 (GLOBE NEWSWIRE) — Derive Systems has been named one of the “50 Fastest Growing Companies of the Year for 2021,” by The Silicon Review magazine editors and publishers. The award includes a citation for the company’s positive impact on societal challenges—in this case, optimizing fuel usage and reducing carbon emissions from car and truck fleets.   

Derive Systems offers a scalable fleet management software platform that allows fleet managers to tailor their vehicles for best performance. Derive’s Vehicle Quotient (VQ) calibrates engines for better fuel efficiency, provides enhanced telematics for greater savings, and shifts safety compliance from the driver to the vehicle.

“Derive Systems impressed us with their VQ Efficiency calibration platform for fleet managers and for automotive enthusiasts,” said Michelle Williams, chief marketing officer and co-publisher of The Silicon Review. “They are a rare combination of smart management, under the leadership of seasoned CEO John Oechsle, and critical organic growth at just this perfect moment in business.”

The core of Derive’s scalable VQ Efficiency fleet management software is to decrease carbon emissions from fleet vehicles, both large and small. Derive’s pairing of automotive technology expertise and deep understanding of fleet management allows clients to tailor their fleets performance and fuel usage to a more adaptable and mission-specific setting. On average, the Derive VQ Efficiency solution generates between a 6% to 10% immediate fuel savings per vehicle, while also implementing speed thresholds on the engine itself.

John Oechsle, CEO of Derive Systems, said: “Derive has always been focused on reducing emissions from fleet vehicles and we continue to find new ways optimize fuel efficiency and safety. We are very pleased to be acknowledged for our fast growth this year. As we see a renewed focus on climate change and reduction of emissions in the U.S., and an increased focus on environmental responsibility, Derive provides a solution to help bridge the gap to EVs by lowering the emissions of today’s vehicles.”

 “We are very big on building corporate culture here at Derive,” added Oechsle. “You have to believe in where you are going to build phenomenal teams. We are doing meaningful work nobody else in the world is doing.”

Social Value of Carbon Reduction Cited

The Silicon Review awards committee and Williams added, “The engine calibration and vehicle telematics system will be able to help America reduce its carbon emissions and support a cleaner global environment. As America and the world seeks to bring emissions lower and improve vehicle performance, we agree Derive Systems will serve as a bridge for future electric vehicle (EV) truck and auto power.”

About the Silicon Review

The Silicon Review is a trade journal with 70,000 print readers which reaches up to 3 million business executives online. 

About Derive Systems

For more information About Derive Systems, visit derivesystems.com

PHOENIX, March 15, 2021 (GLOBE NEWSWIRE) — EPCOR is pleased to announce it will immediately begin construction to expand capacity of the Pecan Water Reclamation Plant in the new San Tan water and wastewater districts (formerly Johnson Utilities).

The $21 million project will increase the facility’s capacity by 1 million gallons per day (MGD) and replace the poorly maintained parts of the facility where the wastewater treatment process begins, ensuring system reliability for existing customers and helping to meet future wastewater needs of the fast-growing San Tan Valley. The project has a 12-month timeline, starting March 2021.

The current Pecan treatment facility is designed to handle 3 MGD of incoming wastewater flows, but is permitted by the Arizona Department of Environmental Quality to handle up to 4 MGD. While EPCOR has made significant upgrades, repairs and other improvements since 2018, the Pecan plant is frequently at or above 90% capacity and has been the site of past sewer overflows. Design and construction of wastewater facility expansions are typically initiated when they reach 80% capacity.

“This is one of the most urgent wastewater priorities for our new San Tan districts and, because of that, we have placed an extremely fast timeline on the Pecan expansion,” said Troy Day, EPCOR’s Vice President of Engineering and Commercial Services. “As former-interim manager, and now owner of the San Tan districts, we have a unique understanding of the water and wastewater needs and will serve our newest customers with the high-quality service they deserve.”

EPCOR has worked to enhance service and reliability, address public health issues, and significantly improve customer satisfaction since its original involvement with the San Tan utility began in 2018 as interim Manager, and will continue with our ownership. More than $138 million in infrastructure improvements are still necessary over the next three years, including the construction of a new wastewater treatment facility and the expansion of the Pecan facility.

The project also continues and advances EPCOR’s goal of reusing or recharging 100% of the wastewater collected and treated. EPCOR has recycled/recharged 18.2 billion gallons of treated effluent for reuse in Arizona.

To learn more, visit epcor.com.

For further information, please contact:

Rebecca Stenholm
Director, Public & Government Affairs
EPCOR USA
O 623.445.2424 | C 602.390.5662 | [email protected]

About EPCOR USA

EPCOR is among the largest private utilities in the Southwest and the largest in Arizona, providing water, wastewater and natural gas service to approximately 780,000 people across 42 communities and 18 counties in Arizona, New Mexico and Texas. With corporate offices in Phoenix, EPCOR employs approximately 425 people.

LOS ANGELES, March 15, 2021 (GLOBE NEWSWIRE) — The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.  Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to [email protected].

iRhythm Technologies, Inc. (NASDAQ: IRTC)
Class Period:   August 4, 2020 – January 28, 2021
Lead Plaintiff Deadline: April 2, 2021

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) iRhythm’s business would suffer as a result of the CMS’ rulemaking; (2) reimbursement rates would in fact plummet; (3) a lack of national pricing in the CMS rule and fee schedule would cause uncertainty and weakness in the Company’s business; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Tyson Foods, Inc. (NYSE: TSN)
Class Period:   March 13, 2020 – December 15, 2020
Lead Plaintiff Deadline: April 5, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Tyson knew, or should have known, that the highly contagious coronavirus was spreading throughout the globe; (2) Tyson did not in fact have sufficient safety protocols to protect its employees in its facilities; (3) as a result, Tyson employees contracted and spread the coronavirus within the facilities; (4) as a result of the foregoing, Tyson would face negative impact to its production, including complete shutdowns of certain facilities; (5) due to the failure to protect its employees, Tyson would suffer financial harm related to its lowered production; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Clover Health Investments, Corp. (NASDAQ: CLOV, CLOVW)
Class Period: October 6, 2020 – February 4, 2021
Lead Plaintiff Deadline:   April 6, 2021

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s Clover Assistant platform was under active investigation by the DOJ for at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals; (2) the DOJ’s investigation presented an existential risk to the Company, since it derives most of its revenues from Medicare; (3) Clover’s sales were driven by a major undisclosed related party deal and misleading marketing targeting the elderly, not its purported “best-in-class” technology; (4) a significant portion of Clover’s sales were by way of an undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s Head of Sales; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com.   If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com

AURORA, OHIO, March 15, 2021 (GLOBE NEWSWIRE) — Pine Technology Acquisition Corp. (the “Company”) today announced the closing of its initial public offering of 34,500,000 units, which includes 4,500,000 units issued pursuant to the exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $345,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units are listed on The Nasdaq Capital Market (“Nasdaq”) under the symbol “PTOCU” and began trading on March 11, 2021. Each unit consists of one share of Class A common stock of the Company and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects the Class A common stock and warrants will be listed on Nasdaq under the symbols “PTOC” and “PTOCW,” respectively.

The Company is sponsored by Pine Technology Sponsor LLC. The Company was formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company currently intends to concentrate its efforts on identifying businesses in the insurance-related technology sector, but it may pursue an initial business combination target in any business or industry.

Cantor Fitzgerald & Co. served as the sole bookrunner and Odeon Capital Group, LLC served as the co-manager for the offering.

This offering will only be made by means of a prospectus. Copies of the preliminary prospectus and the final prospectus relating to the offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: [email protected].

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Joseph Brecher
(212) 402-8220
[email protected]