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Corinex Ranked Number 331 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™

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Attributes 352% Revenue Growth to expanded product offerings, successful strategic partnerships, and increased demand for grid flexibility solutions in international markets

VANCOUVER, BC, Nov. 22, 2024 /PRNewswire/ – Corinex today announced it ranked 331st on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. Corinex grew 352% during this period.

Corinex’s chief executive officer, Peter Sobotka, credits the innovative collaboration with E.ON UK, E.ON Group Innovations, and Corinex on the launch of Corinex’s new product portfolio of grid flexibility solutions, and the expansion of its grid visibility solutions across Germany, with driving the company’s impressive revenue growth. This expansion includes partnerships with major Stadtwerke, such as Stromnetz Hamburg and Regensburg Netze, along with recent sales and deployments in the German market. Sobotka remarked, “Corinex presents a significant value proposition by resolving global grid constraints and providing the flexibility needed to scale low-carbon technologies (LCTs). Addressing this issue is essential for utilities, consumers, and providers of low-carbon technologies. It enables the protection of the grid, unlocks rapid revenue and profit growth through accelerated connections of LCTs, and facilitates mass consumer participation, which is critical for advancing worldwide government efforts toward decarbonization. Our solution can be implemented in any regulatory environment and energy market design, and it can be provided as a new system or by retrofitting the existing low-voltage infrastructure. We work directly with our customers and strategically with technology partners, including Accenture and E.ON, to scale our solutions globally and meet the demands of an evolving energy landscape.”

“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”

“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”

About the 2024 Deloitte Technology Fast 500

Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Corinex
Corinex is a pioneering provider of broadband over power lines (BPL)-based grid visibility and flexibility solutions, enabling the digital transformation of energy distribution systems worldwide. The company’s products accelerate the mass integration of low-carbon technologies (LCTs), automate electricity infrastructure, and transform the grid into a dynamic and intelligent energy system.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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SOURCE Corinex Communications

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Sleighing the Digital Divide with Black Friday Tech Deals

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Holiday Mix & Match Deal puts tech and accessories under your tree for $200 or less!

DETROIT, Nov. 22, 2024 /PRNewswire/ — This holiday season, Human-I-T, a nonprofit dedicated to providing equitable access to technology, is making it easier than ever for holiday shoppers to access affordable tech while giving back to their community. The “Mix and Match Deal,” allows individuals to purchase devices and accessories at prices that fit any budget—all while supporting efforts to close the digital divide.

“For the past 12 years, Human-I-T has been laser-focused on three things: making technology accessible and affordable, offering digital navigation support to those who need it most, and saving our planet by keeping e-waste out of landfills,” said Graeme Jackson, Marketing and Content Manager at Human-I-T. “The ‘Holiday Mix & Match Deal’ helps us achieve all three goals, and the best part is that everyone benefits.”

Available from Friday, November 29th, through Monday, December 30th, the deal offers customers the chance to bundle one device—a tablet, Chromebook, or 2-in-1 device—with one accessory of their choice, including JBL speakers, headphones, a protective laptop sleeve, or a wireless keyboard for $200 or less.

For families, students, or job seekers who may struggle to afford essential technology, this initiative is more than a sale—it’s a lifeline. Human-I-T believes that in today’s digital world, access to reliable technology isn’t a luxury; it’s a basic human right.

“This isn’t just about shopping,” added Jackson. “It’s about providing hope, opportunity, and connection to those who need it most. When you shop with us, you’re not only getting a great deal—you’re helping to change lives.”

The Mix & Match Deal is only available for a limited time. By shopping at Human-I-T’s online store customers can brighten their holiday while directly supporting underserved communities.

Don’t wait—login to the Human-I-T store today

and give the gift of technology that gives back!

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SOURCE Human-I-T

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Metal Machining Market to Expand by USD 18.43 Billion (2024-2028), Driven by Rising Demand in Oil and Gas Industry, Market Evolution Powered by AI – Technavio

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NEW YORK, Nov. 22, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global metal machining market market size is estimated to grow by USD 18.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.03% during the forecast period. Growing demand for metal machining in oil and gas industry is driving market growth, with a trend towards growing adoption of automation in metal machining. However, high costs associated with metal machining industry poses a challenge. Key market players include AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., IPG Photonics Corp., Jet Edge Inc., JTEKT Corp., Matsu Manufacturing Inc., Messer Cutting Systems Inc., Okuma Corp., Otter Tail Corp., Sandvik AB, Shenyang Yiji Machine Tool Sales Co. Ltd., TRUMPF SE Co. KG, Yamazaki Mazak Corp., FANUC UK Ltd, Mayville Engineering Co. Inc., and Jenoptik AG.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Metal Machining Market Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.03%

Market growth 2024-2028

USD 18.43 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.71

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key countries

US, China, Japan, India, and Germany

Key companies profiled

AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., IPG Photonics Corp., Jet Edge Inc., JTEKT Corp., Matsu Manufacturing Inc., Messer Cutting Systems Inc., Okuma Corp., Otter Tail Corp., Sandvik AB, Shenyang Yiji Machine Tool Sales Co. Ltd., TRUMPF SE Co. KG, Yamazaki Mazak Corp., FANUC UK Ltd, Mayville Engineering Co. Inc., and Jenoptik AG

 

Market Driver

The Metal Machining Market is experiencing significant trends in machine tools, CNC technology, and automation. CNC lathes, CNC laser machines, and specialized machines like teach-T are popular choices for metalworking processes. Vendors like HireCNC, NUM, and Synthesis offer comprehensive data and reliable market analysis, helping small and medium-sized businesses make informed vendor selections. Advancements in technology include innovative cutting tools, efficiency improvements, waste reduction, and product quality enhancement. Smart cutting tools and performance optimization are key to increasing productivity and accuracy. Predictive analytics and real-time quality assurance are essential for maintaining high product quality. Sectors like automotive, aerospace, construction, and industrial manufacturing are major consumers of metal components and require precision and quality. Key sectors include automotive for mass production, aerospace & defense for high-performance components, and industrial machinery for heavy-duty applications. The market landscape includes various tools and equipment like metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. IoT integration and 3D printing are also transforming the industry. Despite the high initial cost, the benefits of CNC technology and automation outweigh the investment for profitability and production efficiency. Vendor analysis is crucial for selecting the right CNC machines, PLCs like Codesys V3, and ARM CPUs for optimal performance. 

Vendors in the metal machining market are enhancing their product offerings by incorporating automated equipment in their machining and fabrication shops. Automation streamlines production processes, boosts productivity, and maximizes machine uptime. Continuous operation of automated systems leads to increased output. Automation offers design flexibility, enabling precise parts production with tight tolerances and unique configurations. It is a cost-effective and efficient method for manufacturing intricate products with high accuracy. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

The Metal Machining Market is a significant sector, encompassing machine tools, machinists, CNC technology, and various tools and equipment for metal cutting. Challenges include high initial costs, fluctuating raw materials, and the need for automation and profitability in production facilities. CNC lathes, CNC laser machines, and specialized machines like CNC milling machines dominate the market. Sectors like automotive, aerospace, construction, and industrial manufacturing utilize these machines for metalworking processes, prioritizing quality, precision, and efficiency. Advancements in technology bring innovative cutting tools, smart cutting tools, and performance optimization. Vendors like HireCNC, NUM, and FlexiumPro CNC platform offer solutions with CNC technology, IoT, and real-time quality assurance. Vendor selection is crucial for accurate market data, with reliable data analysis essential for profitability. Market sectors include automotive, aerospace, construction, industrial manufacturing, and more. Key players include CNC machines, saws, grinders, shears, gearboxes, disk brakes, and clutch plates. Cross-border trade and 3D printing are emerging trends. Vendor landscape analysis, including Codesys V3 PLC, ARM CPU, and Synthesis, is crucial for informed decision-making. Predictive analytics and quality assurance are essential for productivity increase and accuracy improvement.The global metal machining market involves the use of equipment such as CNC machines, lathes, and milling machines for metal fabrication. The high cost of purchasing and maintaining this machinery may restrict entry for small manufacturers and startups, potentially limiting market expansion. Energy consumption is significant in metal machining processes, particularly during cutting, shaping, and finishing operations. Energy-intensive processes increase operating costs, especially in areas with high electricity prices or limited energy access. Regular maintenance, repairs, and equipment upgrades are necessary for optimal performance and productivity, adding to expenses through spare parts, servicing contracts, and machine downtime.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This metal machining market market report extensively covers market segmentation by

Application 1.1 Automotive1.2 Construction1.3 Aerospace1.4 OthersType 2.1 Laser cutting machine2.2 Plasma cutting machine2.3 Flame cutting machine2.4 Waterjet cutting machinesGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Automotive- The automotive industry is a major consumer of metal machining products, accounting for a significant share of the global metal machining market. Metal parts, including bus bars, electrical contacts, terminals, lead frames, shields, and clips, are extensively used in various vehicle components such as chassis, fuel delivery systems, motors, engines, batteries, alternators, and brake systems. The increasing demand for personal mobility solutions, particularly in urban areas, is driving the growth of the automotive industry. Factors like population growth and government initiatives, such as incentives and regulations promoting electric vehicle adoption, are further fueling this demand. For instance, in Europe, new car registrations grew by 17.8% between June 2022 and June 2023. In India, electric vehicle sales increased by around 49.25% year-on-year to 15,29,947 units in 2023. Major automotive manufacturers, like Toyota and Volkswagen, are expanding their manufacturing capacity and introducing new models to cater to this growing demand. These developments will increase the need for metal machining products, thereby driving the growth of the global metal machining market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Metal Machining Market encompasses a comprehensive range of machine tools and equipment used for metal cutting and shaping. Machinists utilize various tools such as CNC lathes, milling machines, saws, grinders, shears, and specialized machines to manufacture metal components. The integration of advanced technologies like E and P systems, Industry 4.0, and automation has significantly increased profitability and production efficiency. The market is witnessing in demand for 3D printing technology, which is revolutionizing metal machining by enabling rapid prototyping and customization. Handheld devices and metal cutting tools are also gaining popularity due to their portability and ease of use. The Metal Machining Market continues to evolve, offering endless opportunities for innovation and growth.

Market Research Overview

The Metal Machining Market encompasses a comprehensive data analysis of machine tools, including CNC lathes, CNC laser machines, and specialized machines, used for metal cutting and shaping in various sectors such as automotive, aerospace, construction, industrial manufacturing, and metalworking processes. The market is driven by advancements in technology, innovations in CNC technology, and automation, leading to improvements in product quality, efficiency, and productivity. The integration of Industry 4.0, IoT, and big data analytics enables real-time quality assurance and predictive analytics for profitability and performance optimization. Vendor landscape includes key players offering solutions such as HireCNC, NUM, FlexiumPro CNC platform, Codesys V3 PLC, ARM CPU, and more. The market caters to small & medium-sized businesses and large-scale production facilities, with sectors like automotive and aerospace leading in mass production. The market includes various metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. The market faces challenges such as high initial costs and fluctuating raw material prices. Cross-border trade is a significant factor in the market’s growth, with various industrial machinery sectors like food & beverage, aerospace & defense, military equipment, and transport machinery utilizing metal machining technologies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationAutomotiveConstructionAerospaceOthersTypeLaser Cutting MachinePlasma Cutting MachineFlame Cutting MachineWaterjet Cutting MachinesGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Minister Wilkinson highlights the government’s tax break for all Canadians and new Working Canadians Benefit

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NORTH VANCOUVER, BC, Nov. 22, 2024 /CNW/ – The past few years have been challenging. It feels like the price of everything has gone up. And while inflation is back to the 2 per cent target and interest rates have been cut four times this year, we know that Canadians aren’t yet feeling that in their household budgets.

Our government can’t set prices at the checkout, but we can give Canadians more money in their pockets – to help them afford the things they need and save for the things they want.

Today in North Vancouver, Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, visited local restaurant Akbar Joojeh 16th to highlight the government’s plan to put more money in Canadians’ pockets.

As Prime Minister Justin Trudeau announced on November 21, starting December 14, we’re giving a tax break to all Canadians. With a GST/HST exemption across the country, Canadians will be able to buy essentials like groceries, snacks, children’s clothing, and gifts – all tax-free.

This new tax break will apply to:

Prepared foods, including pre-made meals and salads, vegetable trays, and sandwiches.Restaurant meals, whether dine-in, takeout, or delivery.Snacks, including chips, candy, and granola bars.Beer, wine, and cider.Children’s clothing, footwear, car seats, and diapers.Children’s toys, such as board games, dolls, and video-game consoles.Books, print newspapers, and puzzles, for all ages.Christmas trees.

This tax break is projected to last until February 15th. This will deliver meaningful savings for Canadians by making essentially all food GST/HST free, providing real relief at the cash register.

Working Canadians will also get some cash back. We’re doing this by providing a new Working Canadians Rebate. That means, Canadians who worked in 2023 with net earnings up to $150,000, will see a $250 cheque in their bank account or mailbox, starting early spring. With the Working Canadians Rebate, we are putting money directly into the pockets of the middle-class – those who have worked so hard to beat inflation. This will give 18.7 million Canadians that extra help to buy what they need.

We encourage Parliament and all parties to get this legislation passed quickly and unanimously, so workers and working families get more money in their pockets.

Families will be spending quality time together over the coming weeks. Some will light Christmas trees for Santa to put gifts underneath. Some will share meals with family and friends. Some might just make hot chocolate, order some take out, and stay in for a movie night. With today’s announcements, we’re making the holidays easier and helping Canadians start the new year with a little more in their pockets.

Quote

“The holiday season is when expenses are highest for many families in North Vancouver—even with inflation back down to 2 per cent and interest rates being cut four times this year. With new tax relief on groceries and holiday essentials, plus a $250 rebate for working Canadians, we are reducing costs when they are highest for Canadians. This means you can focus more on celebrating with family and friends, and start the new year off with a little extra money in your bank account.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

Quick Facts

The GST/HST would be fully relieved on the supply or importation of qualifying goods for a period beginning on December 14, 2024, and ending on February 15, 2025. Further details on the qualifying goods are available here.A family spending $2,000 on qualifying goods, such as children’s clothing, shoes and toys, diapers, books, snacks for the house, or restaurant meals would pay $100 less GST over the two-month period.Canadians who have claimed tax credits for Canada Pension Plan/Quebec Pension Plan contributions or for Employment Insurance (EI) or Quebec Parental Insurance Plan (QPIP) premiums, and those who reported income from EI or QPIP benefits, with individual net income below $150,000 in 2023, would be eligible for the Working Canadians Rebate. Eligible Canadians would begin receiving the payments starting in early spring 2025.The government is focused on making life more affordable for Canadians, with actions that are already saving families and individuals thousands of dollars a year, including:A new National School Food Program, with $1 billion over five years to provide meals for up to 400,000 more kids each year, ensuring all children have the food they need to have the best start in life, regardless of their family circumstances. The Program is expected to save the average participating family with two children $800 per year in grocery costs, with lower-income families benefitting the most.More money through the Canada Child Benefit, to help with the costs of raising children and make a real difference in the lives of children in Canada. The Canada Child Benefit, which is providing up to nearly $8,000 per child in 2024-25, is indexed annually to keep up with the cost of living and has helped lift hundreds of thousands of children out of poverty since its launch in 2016.Saving families up to $14,300 per child, per year with the Canada-wide $10-a-day child care system, which has already cut fees for regulated child care to an average of $10-a-day or less in over half of all provinces and territories and by 50 per cent or more in all others.Saving families about $730 per year with the Canadian Dental Care Plan, which is already available for children under 18, with family incomes under $90,000, because no one should have to choose between taking care of their kids’ teeth and putting food on the table.

Related products

News Release: More money in your pocket—A tax break for all Canadians and the Working Canadians RebateBackgrounder: A Tax Break on Groceries and Holiday Essentials

SOURCE Natural Resources Canada

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