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Elevex Capital Launches Multi-Vertical Floor Plan Finance Platform, Powered by Vero Technologies

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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

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Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

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The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control

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BEIJING, Oct. 31, 2026 /PRNewswire/ — ModelBest and OpenBMB jointly announced the release and open-source availability of the MiniCPM-OCR series, a family of models for efficient document parsing and parsing-quality assessment. The launch includes two models: MiniCPM-OCR 1.0 (1.3B) and MiniCPM-OCR Jev (2B).

As the first OCR-focused model in the MiniCPM family, MiniCPM-OCR 1.0 brings top-tier parsing accuracy to a compact 1.3-billion-parameter architecture optimized for edge deployment, pushing forward the balance between efficiency and performance for open-source OCR models. Built for real-world conditions, it accurately parses scanned, photographed, curved, tilted and screen-captured documents without cumbersome image pre-correction, lowering the barrier to large-scale document digitization.

The model handles dense bilingual Chinese-English content, complex mathematical formulas, and multi-level or borderless tables, consistently performing at a leading level across a broad range of mainstream industry evaluations. Beyond full-page reconstruction, it supports key information extraction (KIE), pulling specified fields from invoices, IDs and financial statements according to business instructions.

Powered by DSpark decoding acceleration, MiniCPM-OCR 1.0 significantly increases end-to-end throughput while lowering per-page latency. For enterprises processing millions of pages—such as financial contract archives, academic libraries and government records—this means processing far more documents with the same hardware and time budget, at a substantially lower computing cost.

To address the long-standing need for page-by-page manual review, ModelBest and OpenBMB also introduced MiniCPM-OCR Jev, the first OCR result decision model that acts as an “AI quality inspector.” Rather than performing OCR itself, Jev compares the source image with OCR output and rapidly assigns confidence scores to text, LaTeX formulas and tables, detecting missing characters, errors and formatting misalignments. Despite its compact 2B-parameter size, Jev delivers judgment accuracy typically associated with far larger models.

Jev supports cross-model deployment and can be integrated into existing OCR workflows without replacing the underlying OCR engine. It can automatically identify reliable results for direct processing, flag potentially inaccurate outputs for human review and select the best result from multiple OCR systems. This enables enterprises to move from full manual inspection toward risk-based, automated quality control.

The MiniCPM-OCR series is available on GitHub, Hugging Face and ModelScope, and supports vLLM, SGLang, llama.cpp and Ollama, along with SDKs, APIs, Agent Skill plugins and open-source fine-tuning code. Day-0 hardware adaptation covers AMD, Arm, Houmo AI, Intel and NVIDIA. Through the FlagOS software stack, it also has Day-0 support for AI and edge chips from CIX Technology, Huawei Ascend, Hygon, Iluvatar CoreX, Kunlunxin, MetaX, Moore Threads, Sunrise, T-Head, TsingMicro, NVIDIA and Apple Mac (Arm).

View original content:https://www.prnewswire.com/news-releases/modelbest-and-openbmb-open-source-minicpm-ocr-series-delivering-high-performance-document-parsing-and-ai-powered-quality-control-302925594.html

SOURCE ModelBest

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Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

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NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wulcea-elevates-consumer-trust-in-heated-apparel-through-multi-national-safety-certifications-and-rigorous-technical-testing-302925554.html

SOURCE Wulcea

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