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Ideanomics signs MoU with Beijing Foton Motor Company; Definitive Agreement to Follow

Vlad Poptamas

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Photo source: ideanomics.com
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Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), a global Fintech and AI catalyst for transformative industries, today announced the signing of a MoU with Beijing Foton Motor Company(“Foton”), which will serve as a pre-cursor to a definitive agreement, to allow the two parties to begin working immediately.

The agreement for China-based activities is a 2-year deal, at 5 Billion RMB (approximately $750 Million) per year, making the overall deal valued at 10 Billion RMB (approximately US $1.5 Billion). Ideanomics will provide ABS lease financing of 10 Billion RMB over two years, and fulfill with for Foton on orders of 60,000 EV buses, broken down as follows: 1) not less than 20,000 vehicles from state-owned large-scale tourism groups and referred to as “Tourist bus orders”; 2) no less than 20,000 bus orders from local governments or local bus transportation systems; 3) no less than 20,000 Tourist bus orders from major domestic tourism associations and/or their members. Furthermore, for bus orders introduced by Ideanomics, a commission will be paid for each bus unit sold, at an amount to be determined according to each respective order.

For Malaysia-based activities, including cooperation for the extended ASEAN region, the supply of bus parts and systems, including EV batteries, and a cooperation on the implementation of a charging network, for which Ideanomics shall source no less than 6,000 vehicles from the Malaysian central government and its departmental agencies including EV buses and Police passenger vehicles (cars and motorcycles). For orders within Malaysia and the ASEAN region, Ideanomics shall be entitled to commission per unit sold, at an amount to be determined according to each respective order.

For Vietnam-based activities, Ideanomics shall source no less than 20,000 vehicles, both EV Bus and passenger car for e-taxi conversion, with Foton making available its 30,000-part bus system and technology for assembly in Vietnam. The agreement allows for negotiations with the Vietnam state electrical grid, to introduce a national charging network.

The agreement also allows for projects in other geographical areas, including Europe and the Americas, on a project-by-project basis.

“We are very grateful for the efforts of Dr. Wu, Avis Zhu and the entire China-based Ideanomics team, with support from our colleagues at Treeletrik in Malaysia, for successfully delivering on this deal. Foton is arguably the premier EV bus manufacturer globally, and this agreement positions us to further consolidate our position as a global EV advisory services company, as well as enable us to expand our footprint beyond China with the leading EV bus product available today. The fact Foton promoted signing a MoU, to allow the parties to begin activities immediately while the broader definitive agreement is signed, is testament to our growing reputation as the advisory partner of choice for large-scale EV initiatives in Asia,” said Alf Poor, CEO of Ideanomics.

Beijing Foton’s commercial division is focused on building a future of efficient and environmentally friendly EV Buses and other commercial vehicles, as a vehicle manufacturer. Ideanomics is leading the way for the future of ABS financing, technology enablement with the application of blockchain and artificial intelligence technologies as part of the next-generation of financial services,” said Mr. Liang Shaowen, of Beijing Auto Foton Commercial Vehicle. “Together, Foton and Ideanomics will seize upon the opportunity of large-scale EV and Hydrogen replacement of public and private transportation infrastructure in major markets and the same time raise the standard for technologically advanced vehicles which offer dependability, reliability and improved customer satisfaction. This, coupled with compelling, economically viable, financing programs for the cities and bus operators that manage these fleets will serve a much-needed gap in the market.”

 

SOURCE Ideanomics

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Protiviti CEO Joseph Tarantino and Executive Vice President Brian Christensen Named to the 2019 NACD Directorship 100 List

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Photo source: videoblocks.com
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Joseph Tarantino, president and CEO of global consulting firm Protiviti, and Brian Christensen, executive vice president and global leader of Protiviti’s internal audit and financial advisory practice, have both been named to the NACD (National Association of Corporate Directors) 2019 Directorship 100™ list.

The NACD list recognizes leading corporate directors, corporate governance experts, policymakers and influencers who significantly impact boardroom practices and performance. Honorees will be celebrated at the annual NACD Directorship 100 gala dinner on June 26, 2019 in New York City and featured in the July/August 2019 edition of NACD Directorship magazine.

“Brian and I are truly honored to be recognized by the NACD,” said Tarantino. “We’re committed to helping boards and business leaders fulfill their governance responsibilities as effectively as possible, especially with today’s increasing spotlight on ESG matters.”

Tarantino has held the role of Protiviti president and CEO since 2007 and was a founding leader of the firm in 2002. He has more than 30 years of experience working with a variety of organizations to enhance their business performance through risk management, operational effectiveness and enhanced governance. He was previously named to the NACD Directorship 100 list in 2017 and 2018. Tarantino has been recognized three times by Glassdoor as one of its Top CEOs, amongst several other accolades. Currently a member of St. John’s University’s board of trustees and chair of the audit committee, he also serves on the board and finance committee for Calvary Hospital in the Bronx, New York.

Christensen is a founding managing director of Protiviti and a member of its executive leadership team. He has more than 30 years of experience in helping clients increase the value of their internal audit function by successfully managing risk, monitoring controls, enhancing security and improving corporate governance. Christensen works with global clients to develop next-generation internal audit competencies such as agile auditing, artificial intelligence, machine learning and robotic process automation. In 2017, he was named one of Consulting magazine’s Top 25 Consultants. Christensen is an acknowledged expert in the profession, serving as the president-elect of the Internal Audit Foundation, a 501(c)3 thought leadership organization supporting The Institute of Internal Auditors and over 200,000 members on leading topics in the field of internal audit. He has also served on the boards of several non-profit organizations.

Nominees are solicited from NACD’s constituents, including the NACD board of directors, previous honorees, NACD chapter leaders, advisors and the general membership. The slate of nominees is presented to an independent committee that makes the final selections. The NACD board of directors then ratifies the committee’s selections.

 

SOURCE Protiviti

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Department of Homeland Security Chief Information Officer Tours San Diego Tech Companies, Hosted by Cyber Center of Excellence and San Diego Regional EDC

Vlad Poptamas

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Photo source: acg.org
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US Department of Homeland Security (DHS) information technology and cybersecurity leadership – including more than 30 senior federal personnel from government and military – are touring six tech companies located in San Diego on June 24 – 25, 2019.

With support from San Diego’s Cyber Center of Excellence (CCOE) and San Diego Regional Economic Development Corporation (EDC), the tech tours allow participants to witness how San Diego and the surrounding region continues to evolve as a technology and cyber hub within the United States.

While many San Diego companies were considered for this visit, CCOE and EDC tapped six companies to highlight a cross section of new technologies in the region to include Qualcomm, Redhorse, Shield AI, Teradata, Analytics Ventures and Walmart Labs. The collective group will demonstrate everything from artificial intelligence and machine learning to 5G, data analytics and cybersecurity.

Dr. John Zangardi, the DHS Chief Information Officer (CIO), whose office is jointly leading this outreach trip with the DHS Science and Technology (S&T) Directorate, says that he sees “industry engagement as vital to ensuring the DHS mission takes full advantage of the best industry has to offer.  There are exciting advancements in 5G, IOT, ML/AI and cyber that we want to learn more about.  And I want to ensure that industry understands the DHS mission challenges.”

“The Science and Technology Directorate seeks opportunities to make connections, share ideas, and discuss best practices and new capabilities with cybersecurity professionals from across government, industry, academia and the international community,” notes William N. Bryan, DHS Senior Official Performing the Duties of the Under Secretary for Science and Technology. “Through this series of tours, we hope to learn from companies that are advancing their capabilities in cybersecurity to better inform our efforts to build a secure and resilient cyber backbone for the nation and address the complex threats of our future.”

Rear Adm. (ret) Ken Slaght, CCOE chair and president, emphasized that visits like this provide new perspective on cybersecurity and cyber readiness.

“We’re excited that San Diego is being recognized by national IT leaders,” said Slaght. “For Dr. Zangardi, Mr. Bryan, and other high-ranking federal IT leadership to take an interest in what San Diego continues to do to support innovation and technology development means a great deal. San Diego plays a significant role in cyber preparedness for the nation and will continue strengthening these efforts well into the future.”

The DHS CIO and S&T tour highlights the importance of collaboration between the public, private, academic, government and military sectors to foster greater cybersecurity, and is a component of CCOE and the City of San Diego’sSecure San Diego initiative, which fosters region-wide efforts to create a more secure cyber environment and position San Diego as a global hub of cybersecurity innovation.

 

SOURCE Cyber Center of Excellence

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DTEN’s All-In-One D7 Wins Best Of Show Award At InfoComm

Vlad Poptamas

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DTEN D7 received top honors at the 2019 InfoComm Exhibit as recipient of the Future Best Of Show Award, presented by Sound & Video Contractor. DTEN was nominated by Starin, the prominent audio-visual communications integrator.

The Award specifically selects products demonstrating “innovation, ease of use, quality, return on investment and market relevance.” DTEN D7 meets these criteria by combining video conference, whiteboard and document-sharing into an all-in-one, affordable solution; offering easy plug-in-play installation; connecting meeting participants with a single click; and, integrating artificial intelligence (AI) to adapt lighting, visual and audio to any meeting space.

This award was the second major recognition for the product line in the past two months; DTEN D7 also recently won the Red Dot: Best Of The Best Award.

“The Future Best Of Show Award mirrors DTEN’s commitment to innovation – breakthrough technology that is also simple, intuitive and affordable,” said Wei Liu, founder and CEO of DTEN. “We are truly honored for Starin to have nominated D7.”

The DTEN D7 product lines includes both 55-inch and 75-inch video panels. D7 Dual is also available, linking two displays, one dedicated to video conference, the second for content sharing.  All DTEN D7 models feature 4K display resolution, a 16-array microphone and seamless integration with Zoom, leader in video-first unified communications.

The Future Best Of Show Award was announced at the 2019 InfoComm Exhibit, June 12 – 14, in Orlando.

“We’re proud to celebrate these new products from InfoComm 2019,” said Sound & Video Contractor content director Cynthia Wisehart. “These products demonstrate a serious effort to provide features and innovation for our users in a dynamic and demanding marketplace.”

 

SOURCE DTEN

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