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BioCatch continues rapid expansion through Q3, grows ARR by 40% year-over-year

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Continued momentum shows banks see behavioral biometric intelligence as a mandatory solution for combatting next-generation fraud, scams, and financial crime

NEW YORK, Nov. 5, 2024 /PRNewswire/ — BioCatch, the global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence, grew its Q3 annual recurring revenue (ARR) by 40% year-over-year. BioCatch welcomed 31 new customers in the quarter and continues to strengthen relationships with the world’s largest retail banks, achieving a world-class 124% net dollar retention over the last 12 months.

BioCatch’s flagship product portfolio, BioCatch Connect™, continues to fuel the company’s growth. Total ARR from new products grew 165% year over year, driven in part by significant adoption of its mules solution in the APAC region, where BioCatch helped APAC banks shut down more than 150,000 money mule accounts in 2023.

“We remain laser focused on our customers,” BioCatch CEO Gadi Mazor said. “Bad actors never stop innovating, and so we – as an industry – must not either. We believe cooperation among banks, regulators, law enforcement, and vendors is a vital part of this progress and must be foundational to an industry-wide, proactive fraud and financial crime detection and prevention strategy. We’re excited to introduce new initiatives and deliver forward-thinking solutions in the next few months and beyond that we believe will change forever change the fraud and financial crime fighting landscape.”

Other milestones achieved in Q3 include: 

The official closing of global investment firm Permira’s acquisition of a majority stake in the company.

The signing of a global deal with a multi-national bank headquartered in Europe.

Adding 31 new customers to a global roster of 237, including onboarding one of the world’s largest 100 retail banks. BioCatch now serves 34 of the global top-100 banks.

Onboarding 23 new employees, bringing the total team headcount to more than 340 in 21 different nations.

Continued and consistent EBITDA growth and zero debt.

Releasing two highly publicized research reports covering fraud trends in Brazil and Latin America.

Partnering with the Global Anti-Scam Alliance (GASA) on its The State of Scams in France – 2024 report and Javelin Strategy & Research on a consumer survey covering The Emotional Undercurrent of Financial Scams.

Co-publishing Financial Crime and 314(b): A Practical Guide to Navigating Information Sharing Obstacles with The Knoble.

Earning the silver medal in the Best Financial Crime Investigation and Reporting category of Datos Insights’ 2024 Fraud & AML Impact Awards.

About BioCatch:

BioCatch stands at the forefront of digital fraud detection, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, 34 of the world’s largest 100 banks and 237 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 93 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.

PR contact:

Mac King
BioCatch senior comms manager
Mac.King@BioCatch.com

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Emeren Group and Arpinge Partner to Develop 300 MW Battery Storage Portfolio in Italy

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NORWALK, Conn., Nov. 5, 2024 /PRNewswire/ — Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced a co-development agreement with Arpinge, a permanent capital vehicle focused on sustainable infrastructure in Italy, to jointly develop a 300 MW Battery Energy Storage System (BESS) portfolio in Southern Italy.

This partnership strengthens Emeren’s growing presence in Italy’s BESS market, where the Company has already achieved approximately 1.37 GW in the permitting pipeline. As Emeren’s fourth partnership with an Italian leader in ESG-aligned investments, this collaboration aligns with Italy’s clean energy goals, accelerating the permitting and development process in support of the country’s energy transition. This partnership also reflects Emeren’s focus on high-value opportunities in battery storage as a key part of its growth strategy.

Yumin Liu, CEO of Emeren Group, commented, “This partnership with Arpinge marks a promising step forward in our strategic expansion within Italy’s energy storage industry. Our success in securing partnerships with top-tier investors like Arpinge reflects Emeren’s capability to capture market opportunities early and drive significant value through our proven Development Service Agreement (DSA) model. With the support of our skilled Italian team, we look forward to delivering robust results as we advance toward a successful close to the year.”

Federico Merola, CEO of Arpinge Group, commented, “Collaborating with Emeren on this significant battery storage portfolio underscores our commitment to sustainable infrastructure investments that align with Italy’s energy transition objectives. This partnership leverages our combined expertise to accelerate the development of critical energy storage solutions, enhancing grid stability and supporting the integration of renewable energy sources.”

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

About Arpinge

Arpinge is a permanent capital vehicle set up as a joint-stock company by three institutional investors – the Italian pension funds of Cassa Geometri, Eppi and Inarcassa – to invest in infrastructure, taking into account the portfolio resilience and sustainability, and to act as a promoter of greenfield projects. The Group operates in full compliance with the ESG principles and is currently active in all three main energy transition segments: Renewables, especially in the wind and photovoltaic sectors; Energy Efficiency and Mobility, where the company is the leading Italian investor in the parking sector and fourth by number of parking spaces operated in Italy.

For investor and media inquiries, please contact:

Emeren Group Ltd – Investor Relations
+1 (925) 425-7335
ir@emeren.com 

The Blueshirt Group
Gary Dvorchak
+1 (323) 240-5796
gary@blueshirtgroup.co

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SOURCE Emeren Group Ltd

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VERTIBERRY SELECTS SOLLUM’S DYNAMIC LED SOLUTION FOR NEW INDOOR STRAWBERRY FACILITY

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ENHANCING YEAR-ROUND STRAWBERRY PRODUCTION WITH SOLLUM’S PRECISION LIGHTING TECHNOLOGY

MONTRÉAL, Nov. 5, 2024 /CNW/ – Vertiberry, a leader in sustainable indoor strawberry farming, has chosen Sollum‘s LED lighting solution for its new facility in L’Assomption, Québec. Expected to be operational by the end of 2024, the greenhouse will serve as a test bed for Vertiberry’s innovative growing methods, which include both strawberry propagation and production.

Vertiberry’s decision to choose Sollum’s technology underscores their dedication to producing high-quality, pesticide-free strawberries year-round in a 100% controlled environment. This aligns with their mission to offer local and sustainable strawberries while minimizing food miles.

“Our team is excited to partner with Sollum. We came to the conclusion that their dynamic lighting solution appears to be the most optimal to address our complex needs,” said Olivier Paulus, CEO & Founder of Vertiberry. “Sollum’s superior understanding of light’s role in plant development, combined with the team’s flexibility in addressing challenges to ensure our success, made them the ideal partner for our new facility”, he added.

Sollum’s advanced LED lighting system provides precise control over light intensity, spectrum, and timing, essential for optimizing strawberry propagation and berry production. By working closely with Vertiberry, Sollum ensures that the lighting solution supports their unique cultivation methods, resulting in higher yields and energy efficiency.

“We are proud to collaborate with Vertiberry on this project and support their goal of advancing sustainable strawberry production in Québec,” said Louis Brun, CEO and president at Sollum Technologies. “Working hand-in-hand with Vertiberry’s team, we will leverage the full potential of our dynamic LED lighting solution, adapting to the specific needs of crops at each growing stage and ensuring Vertiberry achieves the best possible outcomes.”

About Sollum Technologies

Sollum Technologies designed the only 100% dynamic LED lighting solution that modulates the full spectrum of the Sun’s natural light to illuminate closed environments such as greenhouses, research centers and laboratories. Sollum’s award-winning, turnkey solution consists of internet of things, AI-powered light fixtures that are controlled by Sollum’s proprietary SUN as a Service® cloud platform. Sollum’s distinctive proposition is a fully scalable cleantech solution that evolves with business needs and multi-zone light management, with each zone benefiting from automatic dimming of an unlimited number of light recipes; this is why it provides unparalleled value in terms of energy savings and, additionally for greenhouse growers, increased productivity, and superior produce quality.

Founded in 2015, the company is headquartered in Montréal (Québec, Canada), where its design, development, and manufacturing activities are concentrated, and has a representative office in Leamington (Ontario, Canada). For more information, visit sollum.tech.

©2024 Sollum Technologies. All rights reserved. SUN as a Service, SUNaaS, LED by nature, SF-E2, SF-ONE, SF-PRO, SF-MAX, S.E.A.R.C.H. and the Sollum logo are registered or trademarks of Sollum Technologies

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SOURCE Sollum Technologies

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VFS Global appointed to offer new Indonesia e-Visa on Arrival service to Japanese, 96 other nationalities

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New Indonesia Electronic Visa on Arrival (e-VoA) service to commence in the first half of December 2024.Dedicated email and live support to be available in seven languages – English, Mandarin, Japanese, Korean, Arabic, German, and French.Multilingual website to be available in seven languages – English, Mandarin, Japanese, Korean, Arabic, German, and French.Group booking facility to be available for the benefit of travel trade and conventions.

MUMBAI, India, Nov. 5, 2024 /PRNewswire/ — The Directorate General of Immigration under the Ministry of Law and Human Rights, Indonesia has appointed VFS Global, the world’s largest outsourcing and technology services specialist for governments and diplomatic missions, as the exclusive private service provider for Electronic Visa on Arrival (e-VoA) to make the process seamless, promote inbound tourism, increase investments into Indonesia, and enhance overall traveller experience.

VFS Global’s new e-VoA platform, set to commence in the first half of December 2024, will be available for nationals of the 97 countries eligible for e-VoA, including Japan. 

Travellers will soon be able to enjoy a quicker and smoother visa application journey through VFS Global by completing the entire process online before departure and receiving a pre-approved e-VoA. The e-VoA can be easily obtained by visiting VFS Global website, submitting all the required documents, and paying the necessary fees online prior to travel. Once the application is submitted, travellers can receive their visas on their email before departure. With the payment having been made online, travellers can enjoy a smoother and faster entry experience through E-gates or immigration counters.

Mr. Silmy Karim, Director General of Immigration of Indonesia, said, “The Directorate General of Immigration offers the latest digital solutions that enhance the experience for foreign nationals who wish to visit Indonesia. In our collaboration with VFS Global, we aim to effectively contribute to increasing the arrival of foreigners, taking into account the network and digital platform owned by our partners.”

Travellers applying for Indonesia e-VoA via VFS Global will get a dedicated email and live support in seven languages – English, Mandarin, Japanese, Korean, Arabic, German, and French – to help them with their queries. VFS Global will add more language support in due course of time for key markets.

Mr. Zubin Karkaria, Founder and Chief Executive Officer, VFS Global Group said, “Indonesia is a very popular destination for travellers across the globe, and we are excited to unveil a service that will make their visa application process quicker, simpler and much more convenient. This user-friendly and highly secure digital e-Visa on Arrival (e-VoA) service will considerably enhance the visa application experience, thereby facilitate increase in tourism to the country. We are honoured to partner with the Directorate General of Immigration under the Ministry of Law and Human Rights and the Ministry of Tourism and Creative Economy of the Republic of Indonesia for this service.”

VFS Global’s new e-VoA platform will ensure all the documents applicants submit are complete and error-free. It also offers OCR technology which will enable applicant details to be auto populated, thereby saving time and effort for applicants. The new platform will also provide group booking facility which could be beneficials for travel trade and conventions.

About VFS Global

As the world’s leading outsourcing and technology service specialist, VFS Global embraces technological innovation including Generative AI to support governments and diplomatic missions worldwide. The company manages non-judgmental and administrative tasks related to applications for visa, passport, and consular services for its client governments, increasing productivity and enabling them to focus entirely on the critical task of assessment.

With a responsible approach to technology development, adoption and integration, the company prioritizes ethical practices and sustainability while serving as the trusted partner to 69 client governments.  Operating over 3,400 Application Centres in 153 countries, VFS Global has efficiently processed more than 297 million applications since 2001.

Headquartered in Zurich and Dubai and majority owned through investment funds managed by Blackstone Inc, along with the Swiss-based Kuoni and Hugentobler Foundation and EQT, VFS Global is committed to creating value for all stakeholders and leading in responsible, innovative solutions making government services more effective and efficient.

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