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QSL IS ANALYZING A SOLUTION TO OPTIMIZE CARGO TRANSHIPMENT AND MEET THE NEEDS OF BUSINESSES AND CONSUMERS.

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Improving supply chain resilience
Increasing international trade

QUEBEC CITY, July 5, 2024 /CNW/ – In a globalized economy where the transport of goods is of paramount importance and at a time of climate change where the maritime route is proving to be the eco-responsible mode, QSL wants the province of Quebec and Quebec City to be part of the equation and the solution. In this context, QSL is initiating the analysis of a business case to address one of the major economic challenges facing the Quebec region: the establishment of an efficient, green, resilient, and better-integrated supply chain.

Concretely, this logistics and transportation across North America is considering a redevelopment of its port activities in the Beauport sector to include a more important container handling vocation in a sequenced project respectful t of the communities.

Not only would the project being considered by QSL not require any encroachment on the St. Lawrence River and not impact aquatic habitat, but it could also reduce land traffic by encouraging intermodal transfer and significantly reducing GHGs.

First, Quebec has all the assets to favour intermodality and make supply chains more efficient: an enviable geographical location, access to a strategic market of consumers and businesses, the opportunity to regain significant market share from the American East Coast volumes destined for the American Midwest, complementarity with Montreal, a water depth of 15 meters as well as an interconnection with a North American rail and road network. In addition, QSL believes that the economic fundamentals behind the establishment of a container terminal as well as the commercial interest remain, especially after a global pandemic.

“Currently, 80% of the volume of international trade in goods is transported by sea and the containerization trend is likely to increase. We have heard the concerns of the business community which wants to benefit from short supply chains where processed products and inputs are brought closer to consumers or end users. If QSL can become a solution to this economic ecosystem that must be optimized, we raise our hand and are ready to work with all the stakeholders who cherish this objective,” commented Robert Bellisle, President and Chief Executive Officer of QSL.

The answer to a need and a solution to an environmental reality

In its 2024-2029 action plan, the Zone économique métropolitaine (ZEM) created under the impetus of the Quebec government and where many of the region’s driving forces sit, devotes an entire chapter to the issue of supply chains. The need responds to a concern often expressed by businesses in Eastern and Central Quebec where large manufacturers struggling from inefficient supply chains . They also have issues with the economical and environmental impact of having goods arrive from overseas to ports of the United States East Coast whose final destination is the Quebec market.

Although bulk cargo still accounts for the largest share of maritime trade, containerized goods have the fastest rate of growth in North America. By itself, global container traffic is expected to double by 2030 compared to 2018.

“If containerization was necessary 10 years ago, it is now unavoidable. Now, we must shape an exemplary project from an environmental point of view, irreproachable in terms of governance, complementary to what is being done on the St. Lawrence and meeting the principles of acceptability for the surrounding communities. QSL could become this partner,” added Mr. Bellisle.

Next Steps

Before finalizing its reflection and filing a project notice with the Port of Quebec, QSL is asking the federal government to favourably respond to its November 2023 request to expand customs operations at the Port of Quebec. If this condition is met, QSL will then be able to finalize a detailed business plan that it will submit to senior governments.

“We are pleased that an established Quebec company like QSL wants to participate in the search for a solution to increase the efficiency and resilience of the Quebec logistics chain in terms of cargo transshipment, while being complementary to current activities on the St. Lawrence, in particular in Montreal and Trois-Rivières. We believe that a containerized cargo project could not only meet the economic challenges of Quebec City and the province of Quebec but also respect the fundamental principles of our Vision 2035, which places a high priority on respect for the environment and the community. We would like to emphasize our satisfaction with QSL’s desire to develop a project that will be based on the principles of sustainable development compatible with our environmental and social ambitions,” concluded the Chief Executive Officer of the Port of Quebec, Mr. Mario Girard.

About QSL

A key supply chain player with its head office in Quebec City, QSL develops tailor-made solutions to offer innovative handling methods while paying particular attention to goods and contributing to the well-being of the communities in which it operates. Its socio-economic footprint is impressive with over 2,000 employees and activities deployed in 66 port terminals across Canada and the United States. It is ranked among Canada’s Best Managed Companies and all its port terminals are Green Marine certified. In 2021, QSL became the first maritime company in Canada to join the United Nations Global Compact. www.qsl.com

SOURCE QSL

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions

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Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit tKash.co.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tkash-celebrates-1st-anniversary-with-major-milestones-and-exciting-promotions-302201283.html

SOURCE tKash

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion

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Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

For more information about Saronic, please visit: https://www.saronic.com.  

Media Contact: Press@saronic.com 

 

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SOURCE Saronic

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Summit-Friendship Solar Village Receives Reuters’ Global Energy Transition Awards 2024

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SINGAPORE, July 19, 2024 /PRNewswire/ — The ‘Summit-Friendship Solar Village’ project, located in Kabilpur within the Gaibandha district of Bangladesh, has received the prestigious Reuters’ Global Energy Transition Awards 2024 under the ‘Projects of Impact’ category in New York, USA on 25th June 2024. Among 500 entries this year from around the globe, this project was nominated for its concrete results in terms of improved energy affordability, and compensation for losses to improve local resilience for climate change.

This 57.6 kW scalable solar microgrid now benefits the 3,000 inhabitants of Kabilpur, Gaibandha. Kabilpur itself is a char—a remote sedimentary landmass found within a river—but finds itself ideally placed to act as hub for neighbouring chars within the Jamuna River, upon which it is situated.

“Summit wants to serve 100% of Bangladesh with infrastructure such as electricity and communication. Most chars fall outside the national grid. I believe these chars, like the rest of Bangladesh, deserve electricity. The award-winning NGO, Friendship, has done wonders. It’s a privilege to provide solar energy to the 3,000 people of Kabilpur Char in association with Friendship,” remarked Muhammed Aziz Khan, Chairman of Summit Power International.

“Anyone who has seen the Jamuna River in its full might will understand that mainline power grids are not really possible here. On the other hand, this solar grid will provide income-generating opportunities and livelihoods, as well as opportunities for children’s education in order for hope and dignity to thrive. We want to thank Summit for its support,” said Runa Khan, the founder of Friendship.

The solar village plays an integral role in allowing people from these isolated communities to have access to “modern” amenities, and have longer operational hours for both business and commerce, alongside academics and home use. Additionally, renewable solar energy also equates to less reliance on traditional kerosene lamps, which burn fossil fuels with toxic consequences.

About Summit Power International 

Summit Group is the largest infrastructure conglomerate in Bangladesh. Summit Power International Ltd (SPI), headquartered in Singapore, is the largest Independent Power Producer (IPP) in Bangladesh reflecting 17% of Bangladesh’s total private installed capacity and 7% of nation’s total installed capacity. In addition, it owns and operates a Floating Storage and Regasification Unit (FSRU) vessel and supplies 500 million cubic feet per day (mmcfd) of regasified LNG to Bangladesh. In 2019, Summit’s FSRU received equity investment from Mitsubishi Corporation. In 2019, JERA Co., Inc. (JERA), had acquired a 22% stake in Summit Power International. Recently, it has proposed the development of the country’s third FSRU and the Cabinet Committee on Economic Affairs has provided in-principle approval of the proposal in mid-June 2023. Most notably, the Meghnaghat II, which is a dual-fuel CCGT GE H Class plant with gross capacity of 590 MW on LNG, achieved the commercial operation date milestone on 26 April 2024.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/summit-friendship-solar-village-receives-reuters-global-energy-transition-awards-2024-302201358.html

SOURCE Summit Power International

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