The Outernet’s backbone in space brings an unparalleled level of security to Government & Enterprise communications

Outernet is a constellation of 600 ultra-secure, networked low-earth orbit satellitesCombining the speed of fiber with the reach of satelliteOrbital mesh network with no terrestrial gateways ensures security by design

MUNICH, July 9, 2026 /PRNewswire/ — Mercantile Space, a leading communications technology company, is partnering with Rivada Space Networks to provide a unique next generation connectivity network with the necessary security and performance to drive digital innovation and transformation. Rivada has now lined up over $US20 billion of business globally for its unique LEO network.  

Mercantile Space alongside its parent company Mercantile Communications, is a premier telecommunications provider in Nepal specializing in satellite solutions and wireless network systems.  The company is a trusted IT partner offering cutting-edge technology solutions, from cybersecurity and cloud services to managed IT and data center management, designed to enhance operational efficiency, security and business growth. With the increasing demand to move large quantities of data securely and quickly around the world placing existing digital infrastructure under greater pressure than ever, organisations in banking, security, defense and telecommunications are looking for innovative and future-forward networking technologies that are secure, fast and reliable.

As the first unified global communications network, Rivada’s Outernet is transformative. A global low-latency point-to-point network of 600 low earth orbit (LEO) satellites, it is a unique next-generation constellation combining inter-satellite laser links with advanced onboard processing and routing to create a ubiquitous optical mesh network in space. This “orbital network,” in which data stays in space from origin to destination, creates an ultra-secure satellite network with pole-to-pole coverage, offering end-to-end latencies much lower than terrestrial fiber over long distances. And by routing traffic on a physically separated network in space, it provides a layer of defense for any organization that needs to share data securely between widely distributed sites.

Mercantile Space will harness Rivada’s Outernet to address critical infrastructure limitations in the region and provide resiliency for secure, sovereign data connectivity for enterprise and government networks. Nepal’s rugged terrain presents severe geographic obstacles for traditional fiber or cable deployments. By leveraging the Outernet’s advanced satellite architecture, Mercantile will be able to bridge these connectivity gaps in remote or underserved areas. The Outernet’s fast, seamless and secure connectivity will ramp up network performance and enable true digital transformation and new business opportunities through multi-gigabit bi-directional performance, combined with worldwide reach.

Amod Pratap Rana, Director Telecom Services at Mercantile Space said: “Our goal is to ensure our customers have sovereign data connectivity, carrier ethernet resilience and a ubiquitous network which bridges connectivity gaps.” He added: “Rivada is building a uniquely capable LEO architecture in effect a highly secure global communications backbone in space. The Outernet not only strengthens digital infrastructure on a global scale, but it also provides an innovative platform for our customers to expand their capabilities to meet new security needs.”

Declan Ganley, CEO, Rivada Space Networks, said: “We are delighted to be working with Mercantile Space to enhance their portfolio of communications services. The space domain now plays a critical role in securing network infrastructure and addressing rising data sovereignty and security demands. Unlike traditional “gap-filler” LEO systems which bridge the last mile between the satellite and the nearest terrestrial gateway, Rivada’s game-changing Outernet is a fully independent and inter-connected private space network that re-defines connectivity in terms of security, latency, capacity, efficiency, and coverage. Our unique gateway-less architecture is fast becoming the system of choice for secure data communications.”

About Rivada Space Networks
Rivada Space Networks GmbH is deploying the first true “Outernet”: a global, low-latency, point-to-point connectivity network of LEO satellites. By connecting its satellites with lasers, Rivada will provide resellers and B2B customers with the ability to securely connect any two points on the globe with low latency and high bandwidth. The constellation, comprising 600 low-earth-orbit communications satellites, will represent a fundamental change in the availability of secure, global, end-to-end enterprise-grade connectivity for Telecom, Enterprise, Maritime, Energy and Government Services markets. Rivada Space Networks is a wholly owned subsidiary of Rivada Networks, Inc. www.rivadaspace.com    

Follow Rivada Space Networks on: 
LinkedIn: https://www.linkedin.com/company/rivada-space/
Twitter: @rivadaspace  

Media Contacts 

Melanie Dickie, Chief Marketing & Communication Officer
Rivada Space Networks GmbH
Tel: +31 6 14 22 97 62
Email: mdickie@rivadaspace.com 

Brian Carney, SVP Corporate Communications 
Rivada Networks, Inc
Tel: +1 (207) 256-0386
Email: bcarney@rivada.com  

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SOURCE Rivada Space Networks

NEW YORK, July 9, 2026 /PRNewswire/ — CLO Virtual Fashion today announced a major update for the Marvelous Designer Student Plan. Designed to expand academic access to the industry-standard software for emerging 3D artists, the newly updated program doubles the total student eligibility window from two to four years, and introduces flexible $8.25/month billing, replacing the previous annual subscription model.

In addition to these permanent changes, CLO Virtual Fashion announced a limited-time promotion giving new users who sign up for the Student Plan three months of free unrestricted Marvelous Designer, valid until October 31st.

Existing student subscribers will automatically transition into this new framework, with their total eligibility window now fixed at four years from the date of their initial student verification, regardless of prior annual purchases. Current annual subscribers will transition to the new monthly rate only after their existing prepaid license expires. To further streamline onboarding, Marvelous Designer has consolidated the student verification and subscription process into a single-step for faster software access.

Eligible academic users can review the full policy and subscribe via the official portal at www.marvelousdesigner.com/pricing?type=academic.

About CLO Virtual Fashion

CLO Virtual Fashion is the creator of Marvelous Designer, the Academy Award-winning 3D garment simulation software used and trusted by animators, game development studios, and VFX artists. With over two decades of research and development in accurate garment simulation, CLO Virtual Fashion’s mission is to empower users at every step of the garment journey. In addition to 3D garment design software, CLO Virtual Fashion’s products include CLO (a leading 3D fashion design software),  CLO-SET (a digital collaboration platform), CONNECT (a digital fashion hub and marketplace), and consumer-facing solutions such as e-commerce virtual fittings. CLO’s interconnected and ever-growing product ecosystem is built to power the future of everything related to garments.

View original content to download multimedia:https://www.prnewswire.com/news-releases/marvelous-designer-expands-student-plan-adds-limited-three-month-free-offer-302821734.html

SOURCE CLO Virtual Fashion

Committed, technology-enabled wholesale inventory finance for equipment dealers across construction, agriculture, material handling, trucks, marine and powersports, and rental and fleet — live now on Vero’s Lending-as-a-Service platform

WESTLAKE, Ohio and NEW YORK, July 9, 2026 /PRNewswire-PRWeb/ — Elevex Capital, LLC (“Elevex”), a specialty commercial equipment finance company, today announced the launch of its floor plan finance platform, a purpose-built, multi-vertical wholesale inventory finance business serving equipment dealers, distributors, and resellers across the United States. The platform is live in partnership with Vero Finance Technologies, Inc. (“Vero”), a leading provider of technology and servicing for wholesale and inventory finance, which provides day-to-day servicing and operational support through its Lending-as-a-Service (LaaS) program and VeroOS, Vero’s modular wholesale and inventory finance platform.

Elevex provides revolving, asset-secured lines that let dealers fund wholesale inventory across a wide range of verticals under a single, committed relationship — addressing a market in which dealers increasingly face fewer providers, tighter terms, and less flexibility. Floor plan lending has a decades-long record of strong performance, driven by strong collateral coverage, short holding periods, and active monitoring. Yet dealers have watched provider after provider enter the space in good times and retreat when conditions tighten — through bank pullbacks, captive lenders narrowing to single-brand programs, and ongoing consolidation among independent lenders. The gap is widest for dealers seeking small and mid-sized flooring facilities: large enough to matter to their business, too small to hold the attention of the remaining national providers. Elevex was built to serve exactly that underserved segment — a lender for which floor plan is the core business, not a product to be cut in the next downturn.

A committed, brand-agnostic line across the whole showroom

Elevex finances compact and heavy construction equipment, agriculture and turf, material handling and industrial power, trucks and vocational vehicles, marine and powersports, and rental and fleet inventory. The platform serves both OEM-sponsored dealer programs and independent dealers, offering competitive advance rates, curtailment structures calibrated by vertical to how inventory actually turns, and lending across the United States with cross-border optionality as the platform scales. Elevex’s OEM and distributor finance programs are live at launch, with Vero servicing sponsored finance offerings for manufacturers and other OEM ecosystem partners from day one.

Technology-enabled discipline, human judgment

Elevex’s operating model pairs real-time monitoring, digital and on-site audits, title control, and self-service dealer portals with experienced wholesale finance professionals. Powering that model is VeroOS, Vero’s proven wholesale and inventory finance platform, together with Vero’s servicing infrastructure supporting core floor plan functions — funding, servicing, portfolio oversight, and risk monitoring. Vero’s technology carries the operational load that historically kept lenders from serving smaller facilities economically, enabling Elevex to scale efficiently while maintaining a modern borrower and partner experience.

“Dealers have been taught to expect their flooring partners to leave — and too often, they have,” said Jeffry D. Elliott, Chief Executive Officer of Elevex Capital. “This asset class never deserved that abandonment; it performs through the cycle. We built Elevex to be the floor plan lender that stays: multi-vertical, technology-enabled, and committed by design. Most lenders finance assets. We engineer outcomes — and we intend to be here to see them through.”

“The old floor plan experience meant surprise audits, rigid curtailments, and waiting days for funding,” said Spencer Richman, President and Chief Operating Officer of Elevex Capital. “When we can see a dealer’s floor in real time, we can fund faster, audit with far less friction, and give dealers the flexibility their business actually needs. The technology is what lets us be both disciplined and dependable at the same time.”

“Elevex is building a technology-forward equipment finance platform with a clear focus on speed, transparency, and modern execution,” said John Mizzi, Chief Executive Officer of Vero Technologies. “By pairing Elevex’s vision with Vero’s proven servicing capabilities and VeroOS, we’re helping Elevex launch, scale, and bring its OEM- and distributor-sponsored finance programs to market.”

Availability

Elevex Capital’s floor plan platform is available now to equipment dealers, distributors, resellers, and OEMs across the United States. Dealers and manufacturers interested in a flooring line or an OEM program can learn more at elevexcapital.com or contact the Elevex team directly.

About Elevex Capital

Elevex Capital engineers payment solutions for commercial equipment needs, serving small businesses, mid-sized companies, equipment sellers, third-party originators, community banks, and capital markets partners across the United States and Canada. The company combines decades of equipment finance expertise with AI-powered technology to deliver innovative payment structures—including usage-based models, seasonal payments, milestone-based terms, and as-a-service options—that align with how equipment actually generates business value. Backed by a $1 billion forward flow agreement with TPG and credit facilities with Wells Fargo and Woodforest Bank, Elevex provides application-only financing up to $1,000,000 with decisions in minutes. For more information, visit elevexcapital.com.

About Vero

Vero provides an end-to-end SaaS and servicing platform designed to streamline wholesale, supply chain, rental and fleet financing. The modular platform supports every function across a lender’s organization with process automation, analytics, and workflow management, enabling lenders to grow efficiently, reduce manual work, and enhance borrower experiences. Learn more at vero-technologies.com.

Media Contact

Cory Damm, Elevex Capital, 1 603-630-7427, keith@sawbuxmarketing.com, www.elevexcapital.com

Jason Bartz, Vero Technologies, 404-383-7048, info@vero-technologies.com, vero-technologies.com

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SOURCE Elevex Capital