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Nel ASA: Additional USD 29 million in tax credits for manufacturing expansion in Michigan

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OSLO, Norway, Jan. 12, 2025 /PRNewswire/ —  A subsidiary of Nel ASA (Nel), (OSE: NEL) has been awarded up to about USD 29 million in additional investment tax credits for its planned manufacturing expansion in Michigan as part of the Qualifying Advanced Energy Project Tax Credit (48C) program.

The 48C program is funded by the Inflation Reduction Act and managed by the US Department of Energy, the US Department of Treasury, and the Internal Revenue Service. A fully owned subsidiary of Nel ASA has now secured up to about USD 29 million in additional tax credits, equivalent to 30 % of the value of qualifying investments. Receipt is subject to conditions, such as wage and apprenticeship requirements.

“Nel has a long history of investing in R&D and commercializing advancements co-supported by federal funding, creating confidence in Nel’s ability to manufacture and deliver products to the field. Nel appreciates this continued support from Department of Energy in scaling up manufacturing capability of our advanced electrolyser products,” says Kathy Ayers, Vice President, Research and Development of Nel.

Accumulated, Nel has now secured close to USD 200 million in support in both tax credits and other grants from the state of Michigan and Department of Energy. Final investment decision for the Michigan facility is not yet taken, and the build out of the site depends on demand.

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen electrolyser technology company with a global presence. The company specializes in Alkaline and PEM technology for production of renewable hydrogen. Nel’s product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time provided.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nel-asa/r/nel-asa–additional-usd-29-million-in-tax-credits-for-manufacturing-expansion-in-michigan,c4090281

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SOURCE NEL ASA

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Omoda and Google Cloud Partner to Revolutionize Online Fashion Shopping with Generative AI

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New AI-powered conversational shopping experience brings boutique personalization to the digital retail spacePersonalized style searches powered by Google Cloud’s gen AI transform online shopping into a boutique experience

AMSTERDAM and SUNNYVALE, Calif., Jan. 13, 2025 /PRNewswire/ — Omoda, a leading Dutch fashion retailer, and Google Cloud today announced a collaboration to transform Omoda’s online shopping experience with AI. Leveraging Google Cloud’s cutting-edge generative AI tools, Omoda launched ‘Omoda Stylist’, a conversational AI agent and ‘Discover the Look’, a feature that reimagines online fashion browsing by helping customers find entire outfits rather than individual items. This approach aims to make fashion exploration more inspiring by enabling shoppers to visualize different styling options.

Omoda believes that showcasing complete outfits sparks creativity and inspires customers to see how individual pieces can work in a variety of looks. With the help of Google Cloud’s Vertex AI platform, and using Gemini models, multimodal embeddings, and Vector Search, Omoda has created a shopping experience similar to having a personal stylist at hand. By using natural language search, customers can effortlessly describe their ideal outfit—such as “a bohemian wedding look” or “smart casual workwear”—and receive curated suggestions that reflect their preferences, body type, and favorite brands. This holistic approach not only improves discoverability but also provides richer insights into styling, fit, and occasions.

“With this collaboration, we’re taking a major step toward fulfilling our vision of bringing the warmth and personalization of boutique shopping to the online world,” said Ewoud Friedlink, CTO, Omoda. “Google Cloud’s generative AI tools are helping us go beyond transactions to inspire our customers, making online shopping an engaging and highly personalized experience. By the end of 2024, we anticipate that 90% of product content—such as descriptions and recommendations—will be AI-generated.”

Innovation driving conversion and loyalty
Omoda’s newly launched conversational AI feature is just the first phase of a broader vision to create a fully immersive and personalized fashion shopping experience. Results from recent tests demonstrate the significant impact generative AI can have on customer engagement:

Higher conversion rates: Customers who engage with the ‘Discover the Look’ feature convert at a rate 2.5 times higher than those who don’t.Enhanced customer inspiration: The new feature, supported by Google Cloud, provides customers with intuitive, natural language searches to deliver personalized outfit recommendations.Intelligent brand matching: Recommendations include items from favorite or complementary brands, ensuring a tailored shopping experience that aligns with customers’ brand preferences.

“By combining Google Cloud’s generative AI with Omoda’s structured data and deep retail expertise, we’re enabling the next era of personalized retail,” said Joost Smit, Head of Benelux, Google Cloud. “This partnership exemplifies how AI can enhance consumer experiences while driving tangible business outcomes for retailers. We’re thrilled to support them on their journey, driving longer-term customer loyalty while bridging the gap between convenience, sustainability, and personalization.”

At the heart of Omoda’s transformation is its robust data infrastructure, powered by Google Cloud’s BigQuery and Looker Studio. These tools ensure structured, real-time data availability, enabling AI-driven recommendations and insights. While the conversational search feature is already live, Omoda is working on next steps, including avatar-based outfit visualization and wardrobe integration.

About Google Cloud
Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated, and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models, and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

About Omoda
Omoda, established in 1875, is the inspiring fashion retailer of the Netherlands. Combining a personalized boutique experience with the convenience of a large retailer, Omoda is the ultimate destination for fashion enthusiasts. With 33 physical stores, the Omoda app, and online shops in the Netherlands, Belgium, and Germany, there is always a store nearby for customers. Since August 2021, Omoda has evolved into a full-fledged fashion retailer, offering not just shoes, bags, and accessories but also clothing for men, women, and children. Omoda, the fashion store that loves you back.

 

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SOURCE Google Cloud

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BankShift Files International Patents to Revolutionize Embedded Banking Technology

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PORTLAND, Ore., Jan. 13, 2025 /PRNewswire/ — ShiftCents, Inc., also known as BankShift, an emerging leader in embedded banking innovation, is proud to announce the submission of an international patent application for its revolutionary Brand On Banking technology. This milestone builds on the company’s success in securing non-provisional patent-pending status in the United States in early 2024, further underscoring BankShift’s commitment to protecting its intellectual property on a global scale while addressing the growing demand for embedded banking solutions that enable financial institutions and brands to deepen consumer engagement and foster loyalty.

 

BankShift empowers financial institutions to white-label their consumer banking products for brands, driving new engagement, value, and loyalty. By leveraging this proprietary solution, financial institutions can distribute banking products within traditionally non-financial experiences, delivering modernized customer experiences while maintaining regulatory compliance.

The market for embedded banking is primed for transformation, representing a $1.5 trillion global fintech opportunity. Traditional financial institutions and brands are actively seeking solutions to seamlessly integrate banking services into their consumer ecosystems, creating deeper relationships and actionable data insights. BankShift is uniquely positioned to meet this need, offering a full-stack, turnkey solution that stands apart from conventional banking-as-a-service providers by enabling direct customer experience management while ensuring regulatory fidelity.

“We’re excited to take this next step in securing our innovation internationally,” said Rob Thacher, Founder and CEO of BankShift. “Our technology, already patent-pending in the United States, positions financial institutions and brands to build stronger, more personalized consumer relationships while driving significant growth together. This international patent filing reinforces our mission to modernize embedded banking and protect the value we bring to our partners.”

BankShift’s Market Impact

Problem: Brands seek to stand out and deepen their connection with consumers by building financial relationships that provide valuable data and insights, ultimately driving sales and retention. However, financial institutions often lack the modern infrastructure and expertise needed to enable embedded banking.Solution: BankShift is a turnkey solution for financial institutions to distribute banking products within traditionally non-financial experiences, maintaining regulatory fidelity while enabling third parties to grow their business and enhance customer experiences to foster loyalty.

BankShift invites financial institutions and popular brands to explore the possibilities unlocked by its embedded banking technology. Consult with them today to learn more about how BankShift can revolutionize your embedded banking offering and elevate your brand presence.

About BankShift:

BankShift is an embedded banking platform built on a banking-as-a-platform model, designed by experts in digital-first innovation. Featuring patent-pending technology, BankShift enables financial institutions to seamlessly integrate banking products into traditionally non-financial experiences. The platform empowers financial institutions and third-party brands to unlock new revenue streams, maintain regulatory compliance, and foster authentic customer loyalty. By redefining the way financial services blend with brand experiences, BankShift creates lasting connections that enhance consumer engagement and elevate everyday financial interactions.

For media inquiries, please contact:
Bernice Gardner
Public Relations
BankShift
bernice@bankshift.com

 

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SOURCE ShiftCents, Inc.

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Vantage Markets Extends Deposit Bonus to Copy Trading Accounts

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PORT VILA, Vanuatu, Jan. 13, 2025 /PRNewswire/ — Vantage Markets, a leader in online trading solutions, has expanded its popular Deposit Bonus promotion to include Copy Trading Accounts, enhancing opportunities for Signal Providers and Copiers to boost their trading potential. With a thriving community of over 69,000 copy traders as of December 2024, this initiative underscores Vantage’s dedication to empowering traders globally.

The Deposit Bonus rewards new and existing users with additional credit on their first and subsequent deposits. Upon deposit, users in selected countries may be awarded complimentary credits, the maximum amount varies regionally, ranging from $5,000 to $20,000.

This initiative allows traders, both Signal Provider and Copies, to:

Ability to select and copy strategies from our diverse range of traders with a wide array of products in their portfolio.Access greater market exposure with enhanced capital via additional credits on the first and subsequent deposits.Develop trading skills through increased market participation.Unlock opportunities for higher potential profits.

Getting started with the Deposit Bonus is simple:

Open a Copy Trading Account: Available for both Signal Providers and Copiers.Make Your First Deposit: Receive up to $500 in complimentary bonus credits (base currency).Make Subsequent Deposits: Enjoy a bonus on additional deposits, capped based on your region.

Austin Law, Vantage Markets Copy Trading Project Manager, shared, “The growth in our Copy Traders is a testament to the strength of our app offerings. We are excited to give users even greater potential to trade their favorite products. This enhancement underscores our commitment to fostering a vibrant and rewarding trading community.”

The program will be a permanent feature in Vantage Markets’ expanding suite of benefits, providing both seasoned and beginner traders with the tools they need to succeed.

For Beginner Traders: Ultra-low barriers to entry, advanced copy modes, and access to a thriving community of over 86,000 traders.For Seasoned Traders: Profit-sharing options up to 50%, strategy flexibility, and seamless MT4/MT5 integration.

Start Your Copy Trading Journey Today

Download the Vantage Markets app now and unlock a world of robust trading features and benefits.

For more information, visit Vantage Markets Copy Trading.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.

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