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NG Advantage closes first round of equity financing

first_imgNG Advantage LLC,NG Advantage LLC has announced the initial closing of its first round of outside equity investment. With its Milton, VT natural gas compressor station online and customer deliveries beginning soon, this investment enables NG Advantage to grow quickly to provide the economic and environmental benefits of natural gas to more companies across New England and New York. Support came from an accomplished group of investors with broad experience in the natural gas industry, clean energy development, and disruptive technology across many sectors of the economy.Investors include Essex Flagship Investors Group, a private investment firm based in Boston comprised of senior professionals with extensive experience investing in, developing, and managing operating businesses in the energy sector. The firm is affiliated with Essex Hydro Associates and Flagship Energy Partners whose principals have a deep knowledge of the North American natural gas infrastructure and end user markets.Another key investor is Dr David Donohue, a Boston-based developer of US underground gas storage facilities and founder of IHRDC, the worldwide leader in knowledge, training, and competency development for the oil and gas industry. Dr. Donohue noted that NG Advantage is ‘ facing a great opportunity’ to advance innovation in the natural gas sector.Members of the Clean Energy Venture Group, an investment group that provides seed capital and management expertise to early stage clean energy companies, provided additional investments.”Clean Energy Venture Group is pleased to have participated in the recent capital raise by NG Advantage,’ said Steve Kaufman, a partner in Clean Energy Venture Group. ‘ As one of the most active early stage clean energy investment groups with a New England focus, we strongly believe that NG Advantage’s environmental and regional economic benefits will have a material impact by reducing emissions from fuel oil usage and helping industries geographically removed from gas pipelines take advantage of lower energy costs.”Experienced bankers and high tech venture capitalists, using their own funds, also invested in this round.‘ These resources will allow us to bring cheaper, cleaner natural gas to businesses, improving both their bottom line and their environmental footprint,’ said Neale Lunderville, NG Advantage Chief Executive Officer. ‘ These funds position NG Advantage to grow quickly to deliver the benefits of natural gas beyond the pipeline to large energy users around New England and New York. Work is underway for continued expansion later this year.’Seasoned entrepreneurs Tom and Mary Evslin founded the company in 2011 and Tom Evslin remains Chairman of NG Advantage. ‘ We are deeply gratified with the strong support from these outside investors,’ said Evslin. ‘ Their experience across a range of industries will be critical to NG Advantage’ s success.’About NG Advantage LLC: NG Advantage is the leading compressed natural gas (CNG) delivery service in the U.S., bringing the economic and environmental benefits of North American natural gas to enterprise customers without access to a pipeline. With customer contracts signed, its Milton, VT compressor station online, and TITAN trailers from Lincoln Composites ready to go, the Company will begin deliveries in March 2013. The Company’ s customers are located across New England. Beginning in mid-2013, the Company will add other compressor stations throughout the region.NG Advantage compresses natural gas from an existing pipeline into specialized containers and delivers it via public highways ‘ a virtual pipeline ‘ directly to large industrial, commercial, and institutional users, providing them with cheaper, cleaner, and safer fuel. NG Advantage saves customers 30-40% on energy bills annually, reduces their CO2 emissions by 26%, and virtually eliminates harmful pollutants like sulfur dioxide and nitrous oxides.NG Advantage LLC. MILTON, Vt.–(BUSINESS WIRE)–3.11.2013last_img read more

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South Africa to get two new metros

first_img10 December 2010 “Next year’s elections will be based on the existent boundaries, and that can’t be changed,” he said. Source: BuaNews Elections based on existing wards South Africa’s Municipal Demarcation Board has announced that Buffalo City, comprising greater East London, and Mangaung, comprising greater Bloemfontein, will become metropolitan municipalities after the 2011 local government elections. South Africa’s six existing metros are the City of Johannesburg, Tshwane (which includes Pretoria), Ekurhuleni to the east of Johannesburg, Cape Town, eThekwini (which includes Durban), and Nelson Mandela Bay (which includes Port Elizabeth).center_img Buffalo City and Mangaung are currently local municipalities that fall under districts: Buffalo City under the Amatole District Municipality, and Mangaung under the Motheo District Municipality. Mahlangu said that while there was talk of doing away with economically weak municipalities, the 2011 local government elections would be based on the existing 4 277 wards. South Africa’s metropolitan municipalities execute all the functions of local government for a city or conurbation, in contrast to areas which are primarily rural, where local government is divided into district municipalities and local municipalities. Briefing reporters in Pretoria on Thursday, Municipal Demarcation Board chairman Landiwe Mahlangu said the decision followed careful consideration of the two municipalities’ economic activity and integrated development planning.last_img read more

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Baidu unveils its own all-electric self-driving car

first_imgRelated Posts David Curry Tags:#Autonomous car#Baidu#BMW#Chery EQ#Didi#electric car#Internet of Things#IoT#Self-Driving#shuttle Baidu plans to swap the modified BMW 3-series that its been using since the start of its self-driving tests for a modified Chery EQ, a small four-door hatchback manufactured in China.The fully-electric car has already entered the fleet, according to a Baidu spokesperson speaking to Business Insider. Not much else is known about the agreement and modifications, if any, that Baidu has made.See Also: Hyundai joins start line at Willow Run self-driving test trackThe Chery EQ has a range of 120 miles and costs 59,800 RMB ($9,000), cheap enough for Baidu to order thousands for its fleet. In photos, the Chery EQ has a new Baidu coat of paint and a sensor tower on the roof.Baidu wants to have a shuttle service online in China by 2018. The Chery EQ could be the perfect vehicle for this type of driverless shuttle, since its small, silent, and can last for a few journeys before needing a refill.The Chinese search giant, often called the “Google of China,” has been working on self-driving for a few years now. The project ramped up in the past 12 months, with Baidu opening R&D centers in the United States and announcing plans to have driverless cars on the road in 2018.That timeframe collides with nuTonomy, a shuttle service in Singapore that wants to launch in 2018. Uber has also signalled plans to start adding driverless cars into its Pittsburgh fleet.Baidu a key China market playerShuttle and ride-hailing services could be the future of the automotive industry, as I’ve wrote previously, and Baidu is going to be a key player in the Chinese market. Didi Chuxing will most likely be Baidu’s main competitor.Didi is a formidable opponent, it is backed by Baidu’s two main internet competitors, Alibaba and Tencent, and recently acquired Uber China. It has the ride-hailing market locked down in China, with 95 percent (including Uber China) of rides processed by its services.Baidu invested $1 billion into Uber earlier this year, but that investment has soured with the acquisition of Uber China by Didi. Baidu now finds itself alone against a giant that can seemingly raise billions whenever it needs cash, and its shuttle service isn’t even online.It could turn the tide with an early launch of its shuttle service, before Didi has its own self-driving cars on the road. The question is whether Chinese consumers will adopt Baidu’s platform, or if they will wait for a few years to figure out the safety of self-driving. IT Trends of the Future That Are Worth Paying A…center_img For Self-Driving Systems, Infrastructure and In… Break the Mold with Real-World Logistics AI and… 5 Ways IoT can Help to Reduce Automatic Vehicle…last_img read more

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Insight celebrates with 50 agent incentive for all bookings to any destination

first_img Posted by Share Tags: Insight Vacations << Previous PostNext Post >> TORONTO — Insight Vacations is marking 35 years in Canada with an incentive for its valued partners: travel agents.Agents can receive $50 per booking on all bookings made to any destination Insight goes to for bookings Aug. 8 – 19. In an additional incentive for clients, travellers can save an extra $35 per person on all tours booked within the same period, combinable with Club Bon Voyage savings and the Early Payment Discount.“Throughout our 35 years in Canada, Insight Vacations has worked with the agent community to provide exceptional touring vacations reflecting our signature qualities of style, quality and value,” said Cris David, president, Insight Vacations Canada. “We are delighted to share our 35th anniversary with our loyal trade partners who have embraced and supported us over the years, enabling Insight to thrive and grow in the Canadian market.”The promotion applies to all Insight Vacations Escorted Journeys with the exception of City Breaks, Eastern Mediterranean, tours that include cruise components and Red Hot Deals. A $200 deposit is required within three days of booking and full payment is due by the designated date and not less than 45 days before the tour departs. Promo code is PPIVANN35.More news:  Kory Sterling is TL Network Canada’s new Sales Manager CanadaFor more information contact your local Sales Manager, visit www.insightvacations.com, or contact an Insight Specialist at the National Sales Centre at 1-800-387-8490.center_img Travelweek Group Insight celebrates with $50 agent incentive for all bookings, to any destination Tuesday, August 9, 2016 last_img read more

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Rep Yaroch calls for the Federal Government to decide Can states regulate

first_img06Jul Rep. Yaroch calls for the Federal Government to decide: Can states regulate marijuana or not? Categories: Yaroch News Legislator: ‘It has been nine years since Michigan’s residents voted on this; it’s time for a decision.’State Rep. Jeff Yaroch has introduced a resolution calling for clarity from the federal government on enforcement of laws involving marijuana.“The direction we’re getting from Washington D.C. on marijuana is inconsistent, at best,” said Yaroch, of Richmond. “They are keeping it illegal but at the same time not enforcing it. Congress seems to be ignoring the fact that more than 50% of states have passed laws to regulate marijuana in conflict with federal law. ”Yaroch’s resolution references the state’s 2008 ballot initiative allowing the medical use of marijuana. “My resolution is not about being for or against marijuana,” Yaroch said. “I support democracy, and the voters of Michigan passed the medical marijuana ballot proposal. However, it’s time for the federal government to make a decision: Can the states regulate marijuana or not?”Yaroch also cites the clarity needed with issues beyond law enforcement, including issues with property zoning, banking and taxation. “Local governments have been placed in a no-win position because to follow State law means breaking Federal law.”If the resolution passes, it would be sent to the Michigan Congressional delegation, the Drug Enforcement Administration, the U.S. Attorney General and U.S. House and Senate leadership.House Concurrent Resolution 11 has been assigned to the House Law and Justice Committee for consideration.last_img read more