Technology

Transit and building improvements coming soon to Banff and surrounding area

Published

11 months ago

February 19, 2024

BANFF, AB, Feb. 19, 2024 /CNW/ – People visiting and living in and around Banff will be better served with improvements to transit services as well as to notable local cultural and essential service buildings after a combined investment of more than $13 million from the federal government and municipal partners.

Announced by Minister Sean Fraser, Mayor Corrie DiManno, Dave Schebek, Board Chair of the Bow Valley Regional Transit Services Commission, and Chris Lorway, President and CEO of the Banff Centre for Arts and Creativity, these projects will broaden access to transportation options and improve traffic flow in the busy Banff region. In addition, improvements to ventilation and lighting in two public local buildings will support a healthier indoor environment.

With today’s funding, up to five accessible hybrid electric buses will be deployed in the Bow Valley region to provide improved transit service. Adding to the existing fleets within Banff, Canmore and Lake Louise, the Bow Valley Regional Transit Services Commission will also replace current diesel buses with a mix of hybrid and electric vehicles that will include some extended range capabilities to be effective in the varying weather and terrain conditions. Funding will also support the expansion of services between Canmore, Banff and Lake Louise. These rural communities will benefit from the purchase of three accessible transit buses specifically to extend the current fixed route service and help improve connectivity in the entire region.

Through a partnership between Banff and the Bow Valley Regional Transit Services Commission, a new transit express lane will be created on Mountain Avenue which connects the downtown, a residential neighbourhood and two main tourist attractions in the area. The town will also see the creation of a new multi-use pathway to better connect residents and tourists with the existing local Roam Public Transit system and help reduce traffic congestion through the area.

Banff will also see investments in ventilation and lighting in notable local buildings to help improve the efficiency of these public spaces. The Catharine Robb Whyte Building will see upgrades to the existing lighting system with high efficiency LED fixtures and new automatic controls to reduce energy waste through a safer, hands-free operation. These improvements are expected to reduce the facility’s energy consumption by an estimated 11% and greenhouse gas emissions by 25.10 tonnes annually. Upgrades to the Banff Centre for Arts and Creativity will be made to the Farrally Hall, Vinci Hall and Glyde Hall with Walter Philips Gallery and will include additional ventilation units and the replacement of outdated equipment to improve overall energy efficiency in the buildings.

Supporting upgrades to local transit and cultural infrastructure encourages healthy and sustainable modes of transportation and lifestyle and plays a key role in developing connected, dynamic, and prosperous communities.

Quotes

“Banff is one of the main hubs in the very busy Bow Valley region and the investments we’re making in local transit projects and community buildings will make it easier and faster for folks to get to where they want to go and upgrade the efficiency of public spaces.”

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“This investment will add a critical transit lane, as well as bicycle and pedestrian path, in our community. It will help our leading-edge transit system to move more people faster and more effectively. We know reliable and frequent transit takes personal vehicles off of our finite road network, reduces greenhouse gas emissions, and maintains our crystal clean air quality, all while improving the overall experience for the four million visitors to Banff each year and the 9,000 residents who work hard to welcome Canadians to their premier national park. The federal support for our energy efficiency upgrades in key facilities strengthens our goal to be a model environmental community and it creates financial sustainability in our vital cultural spaces.”

Her Worship Corrie DiManno, Mayor of the Town of Banff

“Roam Public Transit is continually striving to reduce congestion and contribute to lowering emissions through offering increased sustainable transit options within the Bow Valley. The funding provided through the Federal Investing in Canada Infrastructure Program and the Rural Transit Solutions Fund, supplemented by our partners Canmore, Banff and Improvement District 9, is allowing Roam to continue moving forward on this journey. This opportunity will further encourage and enable residents and visitors to move throughout the Bow Valley without the use of a private vehicle.”

Dave Schebek, Board Chair, Bow Valley Regional Transit Services Commission (BVRTSC)

“With this funding, we will be able to make important upgrades to two of the most historic buildings on our campus: Farrally Hall and Vinci Hall, as well as Glyde Hall with the Walter Philips Gallery. With this work, these three buildings will be able to significantly improve the environmental conditions and air quality which will better serve artists and leaders who come to Banff Centre.”

Chris Lorway, President and CEO, Banff Centre for Arts and Creativity

Quick Facts

The federal government is investing $8,789,777 towards these five projects through various programs including the Public Transit Infrastructure Stream (PTIS) and the COVID-19 Resilience Infrastructure Stream (CVRIS) of the Investing in Canada Infrastructure Program (ICIP), the Rural Transit Solutions Fund (RTSF), as well as the Green and Inclusive Community Buildings (GICB) program. The Town of Banff is investing $4,932,765 and the Town of Banff Environmental Reserve is contributing $35,034.Federal funding is conditional on fulfilling all requirements related to environmental assessment obligations.Under the Investing in Canada Plan, the federal government is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.As the world moves towards a net-zero economy, people living and working on the Prairies are taking action and are leading to take advantage of growing economic development opportunities.On December 18, 2023, the federal government launched the Framework to Build a Green Prairie Economy, which highlights the need for a collaborative, region-specific approach to sustainability, focusing on strengthening the coordination of federal programs, and initiatives with significant investments. This Framework is a first step in a journey that will bring together multiple stakeholders.PrairiesCan has dedicated $100 million over three years to support projects aligned with priority areas identified by Prairie stakeholders to build a stronger, more sustainable, and inclusive economy for the Prairie provinces and Canada.Building a green Prairie economy is about working together on common interests, to make a sustainable and prosperous net-zero economy achievable.Infrastructure Canada is supporting the Framework to Build a Green Prairie Economy to encourage greater collaboration on investment opportunities, leverage additional funding, and attract new investments across the Prairies that better meet their needs.

Investing in Canada Infrastructure Program (PTIS/CVRIS):

The Public Transit Infrastructure Stream of the Investing in Canada Infrastructure Program (ICIP) supports the building, expansion, and upgrading of urban and rural transit networks.Investments in public transit help Canadians get where they need to be, create new manufacturing and construction jobs, reduce pollution, and make life more affordable.Including today’s announcement, over 10 infrastructure projects under the Public Transit Infrastructure Stream have been announced in Alberta, with a total federal contribution of more than $1.9 billion and a total provincial contribution of more than $2 billion.Under the COVID-19 Resilience Stream, the federal cost share for public infrastructure projects is 80 per cent in the provinces, and 100 per cent in the territories and for projects intended for Indigenous communities.Including today’s announcement, over 100 infrastructure projects under the COVID-19 Resilience Stream have been announced in Alberta, with a total federal contribution of more than $206 million and a total provincial contribution of nearly $10 million.

Rural Transit Solutions Fund:

Launched in 2021,the RTSF helps Canadians living in rural and remote areas get around their communities more easily by supporting the development of rural transit solutions.Applications are currently being accepted for the RTSF’s two funding streams:The Capital projects stream can provide up to $3 million for traditional modes of transportation and up to $5 million for zero-emission vehicles. Note: The Capital projects stream will be closing on February 28, 2024, at 3:00 pm, EST.The Planning and Design projects stream provides grants of up to $50,000 to support the development of transit planning activities such as assessment of routes, modes of travel, feasibility studies, public and stakeholder engagement and surveys. No closing date has been announced for this funding stream.A minimum of 10 percent of RTSF’s funding is allocated to projects that benefit Indigenous populations and communities.

Green and Inclusive Community Buildings:

The GICB program is providing $1.5 billion over five years to support green retrofits and new net-zero construction of community buildings in underserved areas. GICB aims to improve the places Canadians work, learn, play, live and come together by cutting pollution, reducing costs, and supporting thousands of good jobs. The program helps ensure that community buildings are energy efficient, inclusive, accessible, and have a long service life, while also helping Canada move towards its net-zero objectives by 2050.At least 10 percent of funding is allocated to projects serving First Nations, Inuit, and Métis communities, including Indigenous populations in urban centres.

Technology

CeQur Closes a $120M Equity Financing to Drive Commercial Growth

Published

53 minutes ago

January 7, 2025

The financing secured will drive growth and accelerate commercial expansion efforts, support the scaling of commercial teams and outreach initiatives to bring CeQur Simplicity™, its 4-day wearable insulin delivery device, to more healthcare providers and patients managing diabetes.

HORW, Switzerland, Jan. 7, 2025 /PRNewswire-PRWeb/ — CeQur®, a medical device company dedicated to simplifying insulin delivery for individuals on multiple daily injections, today announced the successful close of a $120 million financing round. This significant investment underscores the confidence in CeQur’s mission to simplify the lives of people managing diabetes.

“We are grateful for the support of our investors as we accelerate our mission to transform diabetes care,” said Brad Paddock, President and CEO of CeQur.

The funds will support the continued commercial expansion of CeQur Simplicity, the company’s innovative 4-day wearable insulin delivery device. CeQur will continue to grow its Sales Force and expand its Clinical team to ensure that more people living with diabetes can benefit from convenient, discreet, and injection-free dosing.

“We are grateful for the support of our investors as we accelerate our mission to transform diabetes care,” said Brad Paddock, President and CEO of CeQur. “This financing will enable us to reach more patients, expand our commercial footprint, and continue innovating solutions that simplify mealtime insulin management”, said Mike Rubino, CFO of CeQur.

CeQur has seen growing adoption of its CeQur Simplicity patch, a discreet, easy-to-use bolus insulin delivery solution, with over 6,000 patients currently using the device.

CeQur continues to increase and improve pharmacy access. In addition to the more than two thirds of commercially insured patients on formulary, CeQur has reached agreements with numerous Medicare Part-D and State Medicaid programs. Overall, better than 80% of all claims are being covered as a pharmacy benefit. The average copay is less than $45/month.

Related to manufacturing, CeQur’s 40,000 sq/ft automated cleanroom facility completed all of its qualifications in Q4 2024. The facility is scheduled to manufacture commercial product in 2025.

For more information about CeQur and its groundbreaking product, visit myceqursimplicity.com.

About CeQur Simplicity

CeQur Simplicity is a simple, 4-day wearable Insulin Delivery Device for discreet, convenient and injection-free bolus dosing. One CeQur Simplicity patch holds up to 200 units of rapid-acting insulin administered in two-unit increments and replaces, on average, twelve daily mealtime injections over four days. Clinical research has shown that nearly 90% of patients using CeQur Simplicity reported following their insulin regimen better as compared to multiple daily injections.(1) The Patch is clinically proven to improve glycemic control, with patients achieving significantly improved A1C and time-in-range (TIR) goals.(2,3)

About CeQur®

CeQur is commercializing advanced, simple-to-use insulin delivery devices that make it easier for people living with diabetes to adhere to therapy and stay in control of their disease. The Company’s simple, wearable devices provide freedom from multiple daily insulin injections.

More information can be found at cequr.com.

References:

Zraick V, Dreon D, Nalk R, Shearer D, Crawford S, Bradford J, Levy B. 2016. Patient User Experience Evaluation of Bolus Patch Insulin Delivery System. Poster presented at the American Diabetes Association’s 76th Scientific Sessions. Abstract 995-P. New Orleans, LA, USABergenstal R, Peyrot M, Dreon D, Aroda V, Bailey T, Brazg R, Frias J, Johnson M, Klonoff D, Kruger D, Ramtoola S, Rosenstock J, Serusclat P, Weinstock R, Naik R, Shearer D, Zraick V, Levy B. 2019. Implementation of Basal–Bolus Therapy in Type 2 Diabetes: A Randomized Controlled Trial Comparing Bolus Insulin Delivery Using an Insulin Patch with an Insulin Pen. Diabetes Technology and Therapeutics 21 (5):1-13.Bergenstal R., et al Comparing Patch vs Pen Bolus Insulin Delivery in Type 2 Diabetes Using Continuous Glucose Monitoring Metrics and Profiles; Journal of Diabetes Science and Technology 1–7, 2021

Media Contact

Kim Holdsworth, Chief Marketing Officer, CeQur®, 1 (864) 754-0852, media@cequr.com, https://myceqursimplicity.com

View original content to download multimedia:https://www.prweb.com/releases/cequr-closes-a-120m-equity-financing-to-drive-commercial-growth-302344034.html

SOURCE CeQur®

Technology

Modine Announces India Expansion to Meet Growing Data Center Industry Demand

Published

53 minutes ago

January 7, 2025

The new facility in Chennai will manufacture Airedale by Modine™ advanced cooling technologies and also cooling modules for stationary power generation equipment

RACINE, Wis., Jan. 7, 2025 /PRNewswire/ — Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, announced plans to open a new facility in Chennai, India, in mid-2025 to meet increased demand for mission-critical cooling solutions used at data centers. The facility will manufacture data center cooling equipment under the Airedale by Modine™ brand, and also cooling modules for stationary power generation equipment. This expansion follows the recent opening of new manufacturing facilities in Calgary, Canada, and Bradford, UK in response to data center industry demand.

“This strategic expansion of two Modine businesses in India is an example of how we are driving growth by capturing the mega-trends connected to high-performance computing and AI,” said Neil D. Brinker, President and CEO. “By increasing capacity and establishing production facilities in India, we are in a strong position to provide a range of highly engineered enabling technologies to the data center industry.”

Data center investment in India has accelerated in recent years. In addition to having a growing economy that is driving demand for data, the availability of skilled labor and local investment in enhanced connectivity to Africa, Asia, and the Middle East make India an increasingly attractive market. Several data center hyperscale and colocation companies have already invested in India and need technologies to cool everything from the campus power infrastructure to inside the data center hall.

“India is a key part of our growth strategy to meet customer demand in India, Asia, and the Middle East,” said Art Laszlo, Group Vice President, Global Data Centers. “Airedale by Modine invests heavily in research and development to design technologies that are suitable for all regions and plants. We solve our customers’ most critical data center cooling challenges with tailored solutions from just outside the data center hall to the rack.”

“Our cooling modules enhance the performance and efficiency of the stationary power generation units that serve as primary and back-up power and support load management on a data center campus,” said Matthew Powell, Vice President and General Manager, Air-Cooled Applications. “We’re already supplying customers globally and this additional capacity expands our manufacturing footprint so we can fulfill new global orders by this summer.”

This will be Modine’s second facility in India. Modine Thermal Systems India opened in 2007 and designs and manufactures cooling modules for off-highway and commercial vehicles, and power generation equipment.

For more information about Airedale by Modine solutions, please visit www.airedale.com.

About Modine
At Modine, we are Engineering a Cleaner, Healthier World™. Building on more than 100 years of excellence in thermal management, we provide trusted systems and solutions that improve air quality and conserve natural resources. More than 11,000 employees are at work in every corner of the globe, delivering the solutions our customers need, where they need them. Our Climate Solutions and Performance Technologies segments support our purpose by improving air quality, reducing energy and water consumption, lowering harmful emissions and enabling cleaner running vehicles and environmentally-friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Media Contacts:
UK: Nicola Ware | E: nicola.d.ware@airedale.com | Tel: +44 113 2391000
US: pr@modine.com

Investor Contact:
Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

Forward-Looking Statements

This press release contains statements, including information about future financial performance and market conditions, accompanied by phrases such as “believes,” “estimates,” “expects,” “plans,” “anticipates,” “intends,” “projects,” and other similar “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995. Modine’s actual results, performance or achievements may differ materially from those expressed or implied in these statements because of certain risks and uncertainties, including, but not limited to those described under “Risk Factors” in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the year ended March 31, 2024 and under Forward-Looking Statements in Item 7 of Part II of that same report and in the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2024 and September 30, 2024. Other risks and uncertainties include, but are not limited to, the following: the impact of potential adverse developments or disruptions in the global economy and financial markets, including impacts related to inflation, energy costs, supply chain challenges or supplier constraints, logistical disruptions, tariffs, sanctions and other trade issues or cross-border trade restrictions; the impact of other economic, social and political conditions, changes and challenges in the markets where we operate and compete, including foreign currency exchange rate fluctuations, changes in interest rates, tightening of the credit markets, recession or recovery therefrom, restrictions associated with importing and exporting and foreign ownership, public health crises, and the general uncertainties, including the impact on demand for our products and the markets we serve from regulatory and/or policy changes that have been or may be implemented in the U.S. or abroad, including those related to tax and trade, climate change, public health threats, and military conflicts, including the current conflicts in Ukraine and in the Middle East and heightened tensions in the Red Sea; the overall health and pricing focus of our customers; our ability to successfully realize anticipated benefits, including improved profit margins and cash flow, from our strategic initiatives and our application of 80/20 principles across our businesses; our ability to be at the forefront of technological advances and the impacts of any changes in the adoption rate of technologies that we expect to drive sales growth; our ability to accelerate growth organically and through acquisitions and successfully integrate acquired businesses; our ability to effectively and efficiently manage our operations in response to sales volume changes, including maintaining adequate production capacity to meet demand in our growing businesses while also completing restructuring activities and realizing benefits thereof; our ability to fund our global liquidity requirements efficiently and comply with the financial covenants in our credit agreements; operational inefficiencies as a result of product or program launches, unexpected volume increases or decreases, product transfers and warranty claims; the impact on Modine of any significant increases in commodity prices, particularly aluminum, copper, steel and stainless steel (nickel) and other purchased components and related costs, and our ability to adjust product pricing in response to any such increases; our ability to recruit and maintain talent in managerial, leadership, operational and administrative functions and to mitigate increased labor costs; our ability to protect our proprietary information and intellectual property from theft or attack; the impact of any substantial disruption or material breach of our information technology (“IT”) systems; the impact of a material weakness identified in our internal controls related to IT system access in Europe on our financial reporting process; costs and other effects of environmental investigation, remediation or litigation and the increasing emphasis on environmental, social and corporate governance matters; our ability to realize the benefits of deferred tax assets; and other risks and uncertainties identified in our public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are as of the date of this press release, and we do not assume any obligation to update any forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/modine-announces-india-expansion-to-meet-growing-data-center-industry-demand-302343146.html

SOURCE Modine

Technology

Mews Acquires Clarity to Expand Operations in APAC and the UK

Published

53 minutes ago

January 7, 2025

AMSTERDAM, Jan. 7, 2025 /PRNewswire/ — Mews, the industry-leading hospitality cloud, today announces the acquisition of Clarity Hospitality Software Solutions.

Clarity Hospitality Software Solutions (Clarity) was founded in New Zealand in 1992 to provide property and event management systems to upmarket properties and hotels. In 2016, Clarity opened its UK office and now provides its solutions and services to hundreds of hotel groups, event venues and independent hotels across APAC and the UK, managing thousands of rooms and maintaining a profitable business.

Today, Mews is used by hundreds of hotels in APAC and the UK. The acquisition increases the presence of Mews in these regions as more hotels adopt its technology to revolutionize their guest offering.

Mews has experienced significant momentum over the last year, including a valuation crossing $1 billion, surpassing 75,000 hospitality staff platform users worldwide and increased its customers in the UK by 42% and APAC by 16%.

Matt Welle, CEO of Mews, commented, “We’re excited to partner with a team with deep industry knowledge who will help to continue transforming the industry across the world. This acquisition takes us one step further on our vision to build a truly connected network of hotels globally, and we look forward to working with even more customers in the UK and APAC who believe in a future of personalized hospitality, enabled by technology.”

Dougall Love, Owner and CEO of Clarity Hospitality Software, added, “For us, great hospitality technology is all about streamlining tasks to increase productivity, provide a top-class experience to guests and driving repeat and referral business, making for more efficient and profitable hospitality businesses. Mews truly shares our vision of providing remarkable guest experiences and we’re excited to continue supporting our customers with world-class resources as we join forces with Mews.”

Clarity Hospitality Software marks its 12th acquisition.

About Mews

Mews is the leading platform for the new era of hospitality. Powering over 5,500 customers across more than 85 countries, Mews Hospitality Cloud is designed to streamline operations for modern hoteliers, transform the guest experience and create more profitable businesses. Customers include BWH Hotels, Strawberry, The Social Hub and Airelles Collection. Mews was named Best PMS (2024) and listed among the Best Places to Work in Hotel Tech (2021, 2022, 2024) by Hotel Tech Report, as well as World’s Best Hotel PMS Provider (2023) and World’s Best Independent Hotel PMS Provider (2022, 2023) by World Travel Tech Awards. Mews has raised $335 million from investors including Goldman Sachs Alternatives, Kinnevik and Notion to transform hospitality.

For more information, please contact press@mews.com

About Clarity Hospitality Software Solutions

Clarity Software Solutions (NZ) Ltd and Clarity Hospitality Software Solutions (UK) Ltd have sold, implemented, trained and supported the Clarity software solutions in the New Zealand and UK regions for over 20 years. Clarity customers include Hotel Management Groups, Exclusive Resorts and Independent hotels. Customers include Capstone, CPG, Brooke Serene, Bespoke, Peel Hotels management groups, Solitaire, Treetops, Kinloch and Delamore Lodges (New Zealand), Voli Voli resort (Fiji), Amanaki and St Therese Resorts (Samoa), Mar Hall, Craigellachie, Nailcote Hall, Carnoustie Golf Hotel and Spa (UK), as well as many independent hotels. Clarity is proud of its reputation for first class support and customer communication that is the foundations of its long-term success.

Logo – https://mma.prnewswire.com/media/2053034/MEWS_logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/mews-acquires-clarity-to-expand-operations-in-apac-and-the-uk-302343658.html