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INX Software Welcomes Accel-KKR as Majority Shareholder to Pursue Global Growth

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PERTH, Australia and MENLO PARK, Calif., July 24, 2024 /PRNewswire/ — INX Software, an Australian leader in compliance, workforce management, training and reporting software for complex and high-risk industries, has announced the successful closing of a significant equity investment from Accel-KKR, a technology-focused private equity firm.

The investment, which gives Accel-KKR majority ownership in INX alongside management, will spur global expansion of the risk, compliance, logistics, training and reporting technology business.

Perth-based INX Software supplies world-class solutions to some of Australia’s biggest companies, especially those with complex, fast-paced and remote operations. INX has a suite of software solutions used in mining, manufacturing, health, government and other large organisations.

Chief Executive Officer Marcus Ashby welcomed the investment and said that while INX would remain based in WA, it now had a partner that could accelerate access to global markets.

“INX Software will remain a home-grown, Western Australian technology company, but will now have access to the additional resources that Accel-KKR can deliver,” Mr. Ashby said.

“Our customers work in fast-paced, high-risk environments and they trust us to understand their challenges, deliver effective solutions, and be responsive to their changing needs.

“At the same time, our customers are also growing, and they need solutions that can scale with them, including work across borders and in multiple jurisdictions.

“It’s why we’re excited to announce this investment, which will unlock new opportunities to further develop our software solutions and meet customer needs today and tomorrow. Accel-KKR is known for their expertise for supporting software companies on their quest for global growth, so INX is well positioned to grow and scale with our new partner. I thank our previous backers, Tanarra Capital, for their support to date.”

The investment in INX comes after nearly two dozen investments for Accel-KKR in Australia in recent years, including partnerships with Humanforce, Uptick and Reapit ANZ. Accel-KKR’s investment with Seequent, a New Zealand-based geological modelling software company, was named Buyouts’ 2021 International Deal of the Year.

“INX provides mission-critical solutions that allow customers to run vital day-to-day operations, keep up with ever-evolving regulatory requirements and grow across multiple jurisdictions without missing a beat,” said Dean Jacobson, Managing Director at Accel-KKR.

“Given our experience in vertical software, helping companies expand their markets and deliver innovative products, we look forward to helping INX on the next phase of growth.”

This deal comes at a time of sustained growth for INX, where it has doubled its annual recurring revenue (ARR) in four years to FY2025 and today serves more than one million users across the globe.

Under the terms of the sale, the price has not been disclosed.

About INX Software
INX Software enables businesses in fast-paced and complex industries to mobilise their workforce and navigate health, safety and environmental challenges to better protect people and the planet.

Based in Perth, Western Australia, we are globally trusted leaders in the delivery of workforce management, environment, health and safety software solutions, supporting our clients in the operation of safer, smarter and sustainable workplaces. We provide solutions across industries, including resources, oil & gas, transport, energy & utilities, engineering, manufacturing and government sectors.

About AKKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.

Contact
For Accel-KKR
Todd Fogarty
Kekst CNC
P: 1 917 992 1170
todd.fogarty@kekstcnc.com 

View original content:https://www.prnewswire.com/news-releases/inx-software-welcomes-accel-kkr-as-majority-shareholder-to-pursue-global-growth-302205768.html

SOURCE Accel-KKR

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Liftoff! NASA’s SpaceX Crew-9 Launches to International Space Station

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WASHINGTON, Sept. 28, 2024 /PRNewswire/ — The two crew members of NASA’s SpaceX Crew-9 mission launched at 1:17 p.m. EDT Saturday, for a science expedition aboard the International Space Station. This is the first human spaceflight mission launched from Space Launch Complex-40 at Cape Canaveral Space Force Station in Florida, and the agency’s ninth commercial crew rotation mission to the space station.

A SpaceX Falcon 9 rocket propelled the Dragon spacecraft into orbit carrying NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov. The spacecraft will dock autonomously to the forward-facing port of the station’s Harmony module at approximately 5:30 p.m. Sunday, Sept. 29, where Hague and Gorbunov will join Expedition 72 for a five-month stay aboard the orbiting laboratory.

“This mission required a lot of operational and planning flexibility. I congratulate the entire team on a successful launch today, and godspeed to Nick and Aleksandr as they make their way to the space station,” said NASA Administrator Bill Nelson. “Our NASA wizards and our commercial and international partners have shown once again the success that comes from working together and adapting to changing circumstances without sacrificing the safe and professional operations of the International Space Station.”

During Dragon’s flight, SpaceX will monitor a series of automatic spacecraft maneuvers from its mission control center in Hawthorne, California. NASA will monitor space station operations throughout the flight from the Mission Control Center at the agency’s Johnson Space Center in Houston.

NASA will provide live coverage of rendezvous, docking, and hatch opening, beginning at 3:30 p.m., Sept. 29, on NASA+ and the agency’s website. NASA also will broadcast the crew welcome ceremony once Hague and Gorbunov are aboard the orbital outpost. Learn how to stream NASA content through a variety of platforms, including social media.

The duo will join the space station’s Expedition 72 crew of NASA astronauts Michael Barratt, Matthew Dominick, Jeanette Epps, Don Pettit, Butch Wilmore, and Suni Williams, as well as Roscosmos cosmonauts Alexander Grebenkin, Alexey Ovchinin, and Ivan Vagner. The number of crew aboard the space station will increase to 11 for a short time until Crew-8 members Barratt, Dominick, Epps, and Grebenkin depart the space station in early October.

The crewmates will conduct more than 200 scientific investigations, including blood clotting studies, moisture effects on plants grown in space, and vision changes in astronauts during their mission. Following their stay aboard the space station, Hague and Gorbunov will be joined by Williams and Wilmore to return to Earth in February 2025.

With this mission, NASA continues to maximize the use of the orbiting laboratory, where people have lived and worked continuously for more than 23 years, testing technologies, performing science, and developing the skills needed to operate future commercial destinations in low Earth orbit and explore farther from Earth. Research conducted at the space station benefits people on Earth and paves the way for future long-duration missions to the Moon under NASA’s Artemis campaign, and beyond.

More about Crew-9

Hague is the commander of Crew-9 and is making his second trip to the orbital outpost since his selection as an astronaut in 2013. He will serve as a mission specialist during Expedition 72/73 aboard the space station. Follow @AstroHague on X and Instagram.

Roscosmos cosmonaut Aleksandr Gorbunov is flying on his first mission. He will serve as a flight engineer during Expeditions 72/73.

Learn more about NASA’s SpaceX Crew-9 mission and the agency’s Commercial Crew Program at:

https://www.nasa.gov/commercialcrew

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SOURCE NASA

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Global Times: 75 years on, China committed to global common development

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BEIJING, Sept. 28, 2024 /PRNewswire/ — October 1 this year marks the 75th anniversary of the founding of the People’s Republic of China. Over the past 75 years, under the leadership of the Communist Party of China (CPC), the country has undergone tremendous changes, realizing unprecedented development. China has achieved in a few decades what took developed countries several centuries, with its economy now ranking as the second largest in the world. With strenuous efforts, China has realized its first centenary goal – building a moderately prosperous society in all respects.

China’s influence on the world has never been as profound and long-lasting as it is today. Likewise, the world’s attention to China has never been as deep, and focused as it is now.

As globalization deepens, nations are becoming more interdependent, while various global challenges continue to emerge. Humanity faces natural challenges such as climate change and the loss of biodiversity, as well as common global threats like extreme poverty, nuclear proliferation, political extremism, hegemony, and escalating geopolitical conflicts. The need for cooperation has never been more urgent or important than it is today, experts said.

“Where is humanity headed?” has become a significant question concerning the future and destiny for all.

To answer this question, Chinese President Xi Jinping put forward the vision of building a community with a shared future for humanity in 2013. This is seen as China’s solution to addressing global challenges and creating a better future through concerted efforts of the international community. “The common interest of all humankind is in a world united and peaceful rather than divided and volatile,” Xi said, Xinhua News Agency reported.

Building a community with a shared future for humanity is not about replacing one system with another or one civilization with another. Instead, it is about countries with different social systems, ideologies, historical contexts, and levels of development achieving mutual benefits, sharing rights, and jointly bearing responsibilities in international affairs, experts said.

“Unlike the confrontational or competitive approaches that often dominate international relations, this concept advocates for inclusivity and multilateralism,” Hamad Al Hosani, senior researcher at TRENDS Research and Advisory, a think tank of the United Arab Emirates, told the Global Times. “It also reflects a shift from traditional approach to one that embraces a holistic and interconnected global outlook.”

Hosani added that this concept helps address global challenges by focusing on shared responsibilities, such as equitable resource distribution, environmental stewardship, and collective security measures. It encourages countries to promote a sense of global solidarity and cooperation in managing transnational threats.

China’s vision, embodied in initiatives like the Belt and Road Initiative, focuses on infrastructure investment, trade connectivity, and mutual development without imposing political conditions, Hosani told the Global Times, adding that “this reflects a more pragmatic and cooperative approach that respects the individual paths of nations.”

Therefore, the Chinese path offers developing countries an alternative model of engagement, one that values equal partnership and mutual benefit rather than hierarchical or conditional relationships. “This has attracted many countries, particularly in the Global South, to China’s approach, which they see as less intrusive and more respectful of their developmental needs and choices,” Hosani said.

Li Haidong, a professor at the China Foreign Affairs University, told the Global Times that China has provided substantial aid to the Global South over the past decade and established various organizations such as the Asian Infrastructure Investment Bank (AIIB), which reflect China’s principles of equality, inclusiveness, cooperation, and sustainability.

For a better world

Over the 11 years since the concept of building a community with a shared future for humanity was proposed, China has been both an advocate and a practitioner. Through joint efforts, the Belt and Road Initiative (BRI) has transformed from a Chinese proposal to an international practice, from an idea to concrete actions. It has not only brought tangible benefits to the participating countries but also contributed positively to promoting healthy globalization, addressing global development challenges, and improving global governance.

Projects such as the China-Pakistan Economic Corridor, China-Europe Railway Express, China-Laos Railway, Jakarta-Bandung High-Speed Railway, Piraeus Port, Kopa wind power project have greatly benefited local people. By the end of June 2023, China had signed over 200 cooperation documents with more than 150 countries across five continents and over 30 international organizations under the BRI framework, creating countless iconic projects as well as smaller, people-centered projects.

Bojan Lalic, director of the Belt and Road Institute in Belgrade, told the Global Times that different from the West’s selective alliances, China has opted for a path of inclusive multilateralism, advocating for broader cooperation and promoting inclusive frameworks such as the BRI to facilitate development across numerous nations.

“As developing countries increasingly engage with China, a shift in global power dynamics may occur, enabling a multipolar world where various development models coexist,” Lalic said.

Under the vision of building a community with a shared future for humanity, President Xi proposed the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative successively from 2021 to 2023. These three initiatives focus on addressing global development challenges, eliminating global security dilemmas, and promoting exchanges and mutual learning among civilizations.

So far, more than 100 countries and international organizations have voiced support for the Global Development Initiative, with over 70 countries joining this “Group of Friends.” More than 200 development cooperation projects have yielded results, according to the People’s Daily Overseas Edition.

UN Secretary-General António Guterres praised the Global Development Initiative as a “valued contribution to addressing common challenges and accelerating the transition to a more sustainable and inclusive future.”

 

View original content:https://www.prnewswire.com/news-releases/global-times-75-years-on-china-committed-to-global-common-development-302261718.html

SOURCE Global Times

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Sungrow Liquid-Cooled ESS PowerTitan 2.0 is Set to Unleash the AC Block Era

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LONDON, Sept. 28, 2024 /PRNewswire/ — Recently, 66 sets of Sungrow’s energy storage system, PowerTitan 2.0, arrived in the UK, demonstrating its acceleration of energy storage deployment in Europe. In the Middle East, over 1,500 sets of PowerTitan 2.0 are set for deployment, contributing to one of the world’s largest energy storage projects with a capacity of 7.8 GWh. Similarly, in Asia, multiple PowerTitan 2.0 projects have been successfully commissioned, showcasing impressive performance in cost reduction, safety, grid forming, etc. PowerTitan 2.0 is being rapidly gaining global traction, pioneering the energy storage industry’s transition into the AC Block era.

What is the AC Block?

PowerTitan 2.0 introduces the revolutionary AC Block, which integrates a 5 MWh battery with a 2.5 MW PCS into a standard 20-foot container, a significant departure from the traditional method of separating direct current battery systems and alternating current PCS systems. This integration goes beyond just rearranging components; it involves efficiently combining the battery, PCS, fire suppression systems, and other modules while pushing the boundaries of spatial design. According to a report by S&P Global Commodity Insight, only three companies worldwide, including Sungrow, currently provide authentic AC Block solutions.

Dr. James Li, Sungrow ESS Director for Europe, stated that the success of PowerTitan 2.0 is significantly attributed to Sungrow’s fully self-developed PACK/BMS/PCS/EMS technologies, driving innovation through a foundational logic and holistic design approach. Moreover, PowerTitan 2.0 revolutionizes PACK structures and production processes, reducing the width of each PACK by 40mm for a more compact layout. Additionally, each cabinet houses 12 small standardized PCS units, matching the size specifications of PACKs for efficient space utilization. These benefits and innovations make the AC Block concept feasible.

With a more compact structure, increased heat dissipation challenges arise. PowerTitan 2.0 addresses this with a Fully Liquid-Cooled solution for battery PACKs and PCS units, ensuring rapid heat dissipation and extending system longevity.

The AC Block: An Optimal Choice

“In the operational projects, PowerTitan 2.0 demonstrates its exceptional competitiveness,” said Dr. James Li. It saves 29% on land usage, requiring only 2000 square meters for a hundred-megawatt-hour system, significantly reducing land costs. The all-in-one AC-DC block design streamlines deployment with embedded PCSs, pre-assembled components, MVT, and comprehensive factory testing to reduce installation time onsite.

Thanks to its innovative AC-DC block design, PowerTitan 2.0 increases the system’s round-trip efficiency (RTE) by 2%, boosts the total discharge volume over the entire lifecycle by 8%, and reduces fault losses by 92%. Moreover, standardized short cable connections between batteries and PCS in a fully liquid-cooled cabinet, along with advanced AI-based battery health management and ArcDefender Technology, effectively minimize thermal runaway and arcing risks, ensuring overall cabinet safety.

The system also incorporates the latest Stem Cell Grid Tech, enabling seamless 0ms grid switching, and active harmonic absorption. It has been widely deployed in global projects such as the SPP Hybrid project in Thailand, the Dalia project in the Middle East, and China’s offshore grid-forming energy storage project in Guangxi. The solution plays a vital role in supporting the smooth operation of new power systems. Notably, PowerTitan 2.0 operates with low noise levels below 75 dBA, utilizing carefully selected biodegradable or renewable transformer oil, refrigerants, and fire extinguishing agents, aligning with environmental sustainability.

Looking ahead, with continuous product innovation and further cost reductions, AC Blocks represented by PowerTitan 2.0 will become the optimal choice in the energy storage market and driving the global energy transition.

Contact:
Mina Zhang
mina.zhang@cn.sungrowpower.com

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View original content:https://www.prnewswire.co.uk/news-releases/sungrow-liquid-cooled-ess-powertitan-2-0-is-set-to-unleash-the-ac-block-era-302261707.html

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