Four Seasons Hotels And Resorts Celebrates 61 Five-Star Awards Across Its Global Portfolio

TORONTO, Feb. 16, 2021 /PRNewswire/ — Four Seasons Hotels and Resorts today celebrates the exceptional achievements of properties, spas and restaurants around the globe in the annual Forbes Travel Guide Five-Star Awards. Once again, Four Seasons holds the greatest number of Forbes Travel Guide Five-Stars…

TORONTO, Feb. 16, 2021 /PRNewswire/ — Four Seasons Hotels and Resorts today celebrates the exceptional achievements of properties, spas and restaurants around the globe in the annual Forbes Travel Guide Five-Star Awards. Once again, Four Seasons holds the greatest number of Forbes Travel Guide Five-Stars ever awarded to a single brand, with 46 properties, 13 spas and two restaurants holding this distinction.

«Despite the uncertainty of the past year, our focus on creating exceptional experiences through our hotels and resorts of the highest quality, combined with our dedication to service excellence, has never been greater,» says Christian Clerc, President, Global Operations, Four Seasons Hotels and Resorts. «From opening unrivaled new properties to enhancing our iconic existing portfolio, we continue to strive for excellence in everything we do, building upon the trust and confidence that we have established with our guests, residents and employees.»  

In September 2020, Forbes Travel Guide announced that three Four Seasons properties would receive the Five-Star designation in 2021, including Four Seasons Hotel Montreal, Four Seasons Hotel Philadelphia at Comcast Center and Four Seasons Hotel Seattle. In addition, the Spas at Four Seasons Hotel Toronto, Four Seasons Hotel Las Vegas, and Four Seasons Hotel Philadelphia at Comcast Center received a Five-Star award.

Clerc continues: «Most importantly, I am tremendously proud of our employees around the globe, without whom this achievement would not be possible. In the face of unprecedented challenges, our teams came together, delivered outstanding results, and above all took care of our guests, residents and each other through our Lead With Care health and safety program. I’d also like to extend a heartfelt congratulations to all of our property teams and individual winners who have been recognized by the Forbes Travel Guide this year for their contribution to the hospitality industry.»

This year, Forbes Travel Guide introduced several new categories, celebrating the achievements of hotel employees around the world. Najla Ceman, Lead Spa Therapist at Four Seasons Hotel New York Downtown was named the Spa Employee of the Year, while Heriberto «Beto» Oses, Health and Wellness Ambassador at Four Seasons Resort Costa Rica at Peninsula Papagayo was a finalist in the category. In addition, Four Seasons Hotel at The Surf Club and Four Seasons Resort Palm Beach were both named finalists for the People First Star of the Year award, which celebrates property teams who demonstrated an exceptional commitment to people and culture this past year. Meanwhile, Four Seasons Resort Orlando at Walt Disney World Resort was named a finalist for Hotel Instagram of the Year.

In addition to the property teams awarded in 2021, the 46 Four Seasons properties that received a Five-Star Rating are:

  • Four Seasons Hotel Abu Dhabi at Al Maryah Island
  • Four Seasons Hotel Boston
  • Four Seasons Hotel des Bergues Geneva
  • Four Seasons Hotel Chicago
  • Four Seasons Hotel Dubai International Financial Centre
  • Four Seasons Hotel George V, Paris
  • Four Seasons Hotel Gresham Palace Budapest
  • Grand-Hôtel du Cap-Ferrat, A Four Seasons Hotel
  • Four Seasons Hotel Firenze
  • Four Seasons Hotel Guangzhou
  • Four Seasons Hotel Hangzhou at West Lake
  • Four Seasons Hotel Hong Kong
  • Four Seasons Hotel Istanbul at Sultanahmet
  • Four Seasons Hotel Istanbul at the Bosphorus
  • Four Seasons Hotel London at Park Lane
  • Four Seasons Hotel London at Ten Trinity Square
  • Four Seasons Hotel Los Angeles at Beverly Hills
  • Four Seasons Hotel Macao, Cotai Strip
  • Four Seasons Hotel Montreal
  • Four Seasons Hotel Moscow
  • Four Seasons Hotel New York
  • Four Seasons Hotel New York Downtown
  • Four Seasons Hotel Prague
  • Four Seasons Hotel Ritz Lisbon
  • Four Seasons Hotel San Francisco
  • Four Seasons Hotel Seattle
  • Four Seasons Hotel Seoul
  • Four Seasons Hotel Philadelphia at Comcast Center
  • Four Seasons Hotel at The Surf Club
  • Four Seasons Hotel Toronto
  • Four Seasons Hotel Washington, DC
  • Four Seasons Hotel The Westcliff Johannesburg
  • Four Seasons Resort Bali at Jimbaran Bay
  • Four Seasons Resort Bali at Sayan
  • Four Seasons Resort Costa Rica at Peninsula Papagayo
  • Four Seasons Resort Dubai at Jumeirah Beach
  • Four Seasons Resort Hualalai
  • Four Seasons Resort Jackson Hole
  • Four Seasons Resort Lanai
  • Four Seasons Resort Maldives at Kuda Huraa
  • Four Seasons Resort Maui at Wailea
  • Four Seasons Resort Mauritius at Anahita
  • Four Seasons Resort Palm Beach
  • Four Seasons Resort Punta Mita, Mexico
  • Four Seasons Resort The Biltmore Santa Barbara
  • Four Seasons Resort The Nam Hai, Hoi An

The 13 Four Seasons spas that that received a Five-Star Rating are:

  • The Spa at Beverly Wilshire, A Four Seasons Hotel
  • Spa Mont Blanc, Four Seasons Hotel des Bergues Geneva
  • The Spa at Four Seasons Hotel Hong Kong
  • Ritz Spa, Four Seasons Hotel Ritz Lisbon
  • The Spa at Four Seasons Hotel Las Vegas
  • The Spa at Four Seasons Hotel London at Park Lane
  • The Spa at Four Seasons Hotel Macao, Cotai Strip
  • The Spa at Four Seasons Hotel Montreal
  • The Spa at Four Seasons Hotel New York Downtown
  • The Spa at Four Seasons Resort Palm Beach
  • The Spa at Four Seasons Hotel Philadelphia at Comcast Center
  • The Spa at Four Seasons Hotel at The Surf Club
  • The Spa at Four Seasons Hotel Toronto

The two Four Seasons restaurants that received a Five-Star Rating are:

  • Caprice, Four Seasons Hotel Hong Kong
  • Lung King Heen, Four Seasons Hotel Hong Kong

All Four Seasons hotels, resorts and residences globally have introduced Lead With Care, an enhanced global health and safety program focused on providing care, confidence and comfort to all Four Seasons guests, employees and residents within the new COVID-19 environment. In addition, Four Seasons continues to invest in its award-winning App and Chat that further allows guests to control how they engage with others – limiting face-to-face interactions while maintaining the highest levels of personal service.

Methodology

Star ratings are awarded by a team of anonymous professional inspectors who travel the world to assess hotels, restaurants and spas based on 900 objective standards. Star ratings ultimately emphasise quality of service. Five-Star properties are defined as «outstanding, often iconic properties with virtually flawless service and amazing facilities.» Forbes Travel Guide rates properties in 73 countries throughout the world.

About Forbes Travel Guide

Forbes Travel Guide is the only global rating system for luxury hotels, restaurants and spas. Anonymous professional inspectors evaluate based on up to 900 objective standards, with an emphasis on exceptional service, to help discerning travellers select the world’s best luxury experiences. The only way to get a Five-Star, Four-Star or Recommended rating is by earning it through this independent inspection process.  

About Four Seasons Hotels and Resorts

Founded in 1960, Four Seasons Hotels and Resorts is dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality. Currently operating 119 hotels and resorts, and 44 residential properties in major city centres and resort destinations in 47 countries, and with more than 50 projects under planning or development, Four Seasons consistently ranks among the world’s best hotels and most prestigious brands in reader polls, traveller reviews and industry awards. For more information and reservations, visit fourseasons.com. For the latest news, visit press.fourseasons.com and follow @FourSeasonsPR on Twitter.

Contact:
Matt Levison
mlevison@kwtglobal.com

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SOURCE Four Seasons Hotels Limited

Agero Lauded by Frost & Sullivan for Alleviating the Stress of Roadside Events with Its Advanced Dispatch and Management Technology

New digital platform optimizes customer experience, streamlines service provider selection and delivers greater reporting transparency

SANTA CLARA, Calif., Feb. 16, 2021 /PRNewswire/ — Based on its recent analysis of the global digitalized roadside driver assistance market, Frost & Sullivan recognizes Agero,…

New digital platform optimizes customer experience, streamlines service provider selection and delivers greater reporting transparency

SANTA CLARA, Calif., Feb. 16, 2021 /PRNewswire/ — Based on its recent analysis of the global digitalized roadside driver assistance market, Frost & Sullivan recognizes Agero, Inc. with the 2020 Global Customer Value Leadership Award. Agero is redefining roadside assistance and connected car services with its dispatch and management technology integrated with the Swoop platform. By combining data-driven technology and a human touch, Swoop improves the consumer’s relationship with their assistance program provider, whether it be their insurer, automaker, or fleet manager. The platform modernizes the complete breakdown experience for each stakeholder in the end-to-end service delivery chain – consumer, service provider, contact center agent, client and Agero – with built-in transparency and real-time updates.

Photo – https://mma.prnewswire.com/media/1437841/Frost_Sullivan_2020_Global_Digitalized.jpg

With its Swoop Dispatch Management platform, delivered as a software-as-a-service, Agero enables insurers, automakers and fleet managers to present a fully digital experience to customers in need of roadside assistance. Aligning the dispatch technology for measuring the variables to select the best service provider with an omnichannel approach, including web apps and mobile APIs, Agero resolves each situation in a way that ensures superior customer satisfaction.

«Agero’s unified platform is flexible and variably configurable to support multiple business types and multi-tenant client management. Significantly, Swoop Dispatch Management can integrate with clients’ existing contact center functions or service provider network operations. In the tow management software component, available on desktop and mobile apps, the Swoop platform automates workflows to fit the needs of both large and small tow operators, assigns jobs to drivers, and streamlines invoicing,» said Vishwas Shankar, Research Director at Frost & Sullivan. «In the agent-facing software, Agero employs advanced algorithms to analyze massive amounts of data to best match tow service providers to end-customer needs and the business preferences of the client insurer, automaker or fleet operator.»

The platform is a single, transparent source of information for roadside customers, call center agents, insurers, fleet or automakers, a dealership receiving the vehicle, and the tow operator. It can easily deploy in each of these stakeholders’ environments as a full-stack, stand-alone, or integrated offering with existing software. With job progress dashboards and intuitive design to map the events and hotspots, Agero offers an exceptional user experience for clients. It also includes reporting and analytics functions to identify insights and performance indicators from each case event.

«The Agero solution facilitates the modernization and digital transformation of legacy technologies that do not meet the expectations of contemporary customers,» noted Nick Baugh, Best Practices Research Analyst at Frost & Sullivan. «The company is preparing to position itself as the key enabler of all mobility assistance, across mobility modes and channels. As consumers transition away from traditional car ownership models, Agero can support and connect numerous multimodal ecosystem participants while constantly improving integration across channels and service areas.»

Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company’s unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Bianca Torres
P: 210.477.8418
E: bianca.torres@frost.com

About Agero
Agero’s mission is to rethink the roadside experience through a powerful combination of passionate people and data-driven technology, strengthening its clients’ relationships with their customers. As a leading B2B provider of next-gen driver assistance services, Agero is pushing the industry in a new direction, taking manual processes and redefining them as digital, transparent and connected. This includes: a transformative roadside event management platform powered by Swoop, a San Francisco based software company acquired in 2018; comprehensive accident management services; knowledgeable consumer affairs and connected vehicle capabilities; and intuitive tow dispatch software.

The company protects 115 million vehicles in partnership with leading automobile manufacturers, insurance carriers and other diversified clients. Managing one of the largest national networks of service providers, Agero responds to approximately 12 million service events annually. Agero, a member company of The Cross Country Group, is headquartered in Medford, Mass., with operations throughout North America and Europe. To learn more, visit www.agero.com.

Contact:

Kate Patty
PR Manager, Agero
Phone: 781.306.3771
Email: KPatty@agero.com

REE Automotive Opens New Engineering Center of Excellence

TEL AVIV, Israel, Feb. 16, 2021 /PRNewswire/ — REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.

The Engineering Center will spearhead…

TEL AVIV, Israel, Feb. 16, 2021 /PRNewswire/ — REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.

The Engineering Center will spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. REE will also have access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform at the MIRA Technology Park in the UK.

REE’s unique CapEx-light manufacturing model will utilize globally located integration centers, creating scalable and agile unit economics. REE intends to assemble components at its integration centers, thus reducing Capex requirements, and expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.

REE's P1, P2 and P4 platforms in the field.

Daniel Barel, REE’s Co-Founder and CEO: «I am excited to announce another major milestone for REE towards bringing our technology and products to the market as we expand our global footprint. With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Center is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.»

REE’s technology empowers global mobility companies with the flexibility to build electric and autonomous cars, vans and trucks of any size or shape, for any application, and any target market. REE’s proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. This groundbreaking concept, unique to REE, allows a completely flat and modular electric chassis and provides customers with full design freedom to create the broadest range of electric and autonomous vehicles. EVs and AVs built on REEcorner and EV platform technology will offer more room for passengers, cargo, and batteries in a manner unprecedented in the industry. REE’s proprietary technology is agnostic to vehicle size and design, power-source and driving mode (human or autonomous).

Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade: «The UK is the most welcoming location for a pioneering automotive company like REE thanks to our leading position in both CAM and vehicle electrification. The Government’s multi-million ‘Driving the Electric Revolution’ program, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this exciting investment to the UK. I wish the company every success in its new home.»

Mike Charlton, REE’s COO, who is responsible for the launch stated, «A key driver in our decision to establish our presence in the UK is the UK government’s forward-thinking vision and zero-emissions policy that perfectly aligns with REE’s goal of heralding a more sustainable, greener future for our generation and those to come.»

The opening of REE’s new Engineering Center at MIRA Technology Park in the UK – Europe’s leading mobility R&D location for developing the latest automotive technology – is anticipated to create approximately 200 highly skilled jobs in the next few years.

About REE Automotive
REE is an automotive technology leader creating the cornerstone for tomorrow’s zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.

Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany. REE has a unique CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with their unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility. For more information visit https://www.ree.auto.

About MIRA Technology Park
MIRA Technology Park is Europe’s leading mobility R&D location for developing the latest automotive technology. It is a national centre of excellence and located in the middle of the UK automotive sector, providing access to over 40 major test facilities and the UK’s most comprehensive proving ground. MIRA Technology Park is home to over 35 global OEMs, Tier 1 and specialist automotive technology companies. The purpose-designed campus creates a unique collaborative ecosystem, bringing together world-class facilities and skilled engineers, to provide a location for innovation and technological development.

Additional Information
This communication is being made in respect of the proposed transaction involving REE Automotive Ltd. («REE») and 10X Capital Venture Acquisition Corp («10X SPAC»). This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connection with the proposed transaction, REE will file with the Securities and Exchange Commission («SEC») a registration statement on Form F-4 that will include a proxy statement of 10X SPAC in connection with 10X SPAC’s solicitation of proxies for the vote by 10X SPAC’s shareholders with respect to the proposed transaction and other matters as may be described in the registration statement. REE and 10X SPAC also plan to file other documents with the SEC regarding the proposed transaction and a proxy statement/prospectus will be mailed to holders of shares of 10X SPAC’s Class A ordinary shares. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE FORM F-4 AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about REE and 10X SPAC will be available without charge at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus can also be obtained, when available, without charge, from REE’s website at https://ree.auto/. Copies of the proxy statement/prospectus can be obtained, when available, without charge, from 10X SPAC’s website https://www.10xspac.com/.

Participants in the Solicitations
REE, 10X SPAC and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from 10X SPAC’s shareholders in connection with the proposed transaction. You can find more information about 10X SPAC’s directors and executive officers in 10X SPAC’s final prospectus dated November 24, 2020 and filed with the SEC on November 25, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

Caution About Forward-Looking Statements
This communication includes forward-looking statements. These forward-looking statements are based on REE’s and 10X SPAC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s and 10X SPAC’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for REE or 10X SPAC to predict these events or how they may affect REE or 10X SPAC. Except as required by law, neither REE nor 10X SPAC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s and 10X SPAC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against REE or 10X SPAC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of 10X SPAC or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of 10X SPAC or REE as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; REE’s estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; intense competition in the e-mobility space, including with competitors who have significantly more resources; ability to grow and scale REE’s manufacturing capacity through new relationships with Tier 1 suppliers; ability to maintain relationships with current Tier 1 suppliers and strategic partners; ability to make continued investments in REE’s platform; the need to attract, train and retain highly-skilled technical workforce; the impact of the ongoing COVID-19 pandemic; changes in laws and regulations that impact REE; ability to enforce, protect and maintain intellectual property rights; and risks related to the fact that we are incorporated in Israel and governed by Israeli law; and other risks and uncertainties set forth in the section entitled «Risk Factors» and «Cautionary Note Regarding Forward-Looking Statements» in 10X SPAC’s final prospectus dated November 24, 2020 relating to its initial public offering and in subsequent filings with the SEC, including the proxy statement relating to the business combination expected to be filed by 10X SPAC.

Media Contact
Keren Shemesh
Chief Marketing Officer
REE Automotive
E: kerens@ree.auto  
M: +972-54-5814333

 

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SOURCE REE Automotive

Motorsports technology meets the road: The 2022 Porsche 911 GT3

ATLANTA, Feb. 16, 2021 /PRNewswire/ — Porsche continues the tradition of transferring what it learns on the race track directly to cars designed for the road in its latest model, the new 2022 911 GT3. Making use of extensive lightweight materials, refined aerodynamics and a motorsports-derived double wishbone front axle layout, the new 911 GT3 aims to raise the bar once again.

<a…

ATLANTA, Feb. 16, 2021 /PRNewswire/ — Porsche continues the tradition of transferring what it learns on the race track directly to cars designed for the road in its latest model, the new 2022 911 GT3. Making use of extensive lightweight materials, refined aerodynamics and a motorsports-derived double wishbone front axle layout, the new 911 GT3 aims to raise the bar once again.

«With a soul that’s born in the Motorsport, the new 911 GT3 sends a driver’s heart racing,» said Kjell Gruner, President and CEO of Porsche Cars North America, Inc. «Whether it’s a customer enjoying their favorite twisty backroad or taking to the track, the new 911 GT3 promises to be among the most exciting and rewarding cars we make.» 

Engine: The heart and soul of a racer

A naturally aspirated 4.0-liter, six-cylinder boxer engine that revs to 9,000 rpm is at the heart of the new model. Generating up to 502 hp and 346 lb-ft of torque, the engine offers extremely sharp throttle response thanks in large part to its six independent throttle bodies. This engine is virtually identical to the unit found in the new, track-only 911 GT3 Cup race car. The seven-speed Porsche Doppelkupplung (PDK) transmission – engineered and tuned specifically for the 911 GT3 – is included as standard equipment, while a six-speed manual transmission is also available to order for customers who prefer a particularly engaging driving experience. This engine, which was first introduced in the limited-production 2019 911 Speedster, has been further optimized for use in the new 911 GT3 with new pistons. A dry-sump lubrication system ensures a sufficient oil supply even at very high lateral and longitudinal loads by using a total of seven suction stages that quickly return oil to the external tank. Acceleration from 0 to 60 mph with the standard seven-speed PDK takes only 3.2 seconds and top track speed is 197 mph.

Lightweight materials

The free-revving engine is only a one part of what makes the latest GT3 such a standout. Based on the 911 Carrera body, front track width increases by 1.9 inches. Despite the change in size, the new model weighs almost virtually the same as its predecessor.  This is possible thanks in part to a more extensive application of lightweight materials in the body than ever before in a 911 GT3. The hood, rear wing, and fixed rear spoiler underneath the wing are all made of carbon fiber reinforced plastic (CFRP). Lightweight, noise insulated glass on all of the windows also aids in accomplishing the ambitious weight target. 

Chassis and brakes

Narrowing the gap between race and road cars even further, the double wishbone front axle of the new GT3 is derived from the 911 RSR and 911 GT3 Cup cars and adapted for road use, marking a major milestone in the history of the 911. The new front axle offers even more direct and precise steering than the predecessor. Cornering stability improves, allowing for higher cornering speeds and better mid-corner control over uneven pavement.  As with past models, the rear axle uses a multilink design, but for this generation an even greater number of ball joints in both the front and rear are used, further enhancing the capability of the GT3 chassis. In fact, the new GT3 suspension does not share any parts with the current 911 Carrera models. 

The standard braking system also boasts improvements over the predecessor model with cast iron discs measuring 408-mm in diameter on the front axle, which is a 28-mm increase over the previous generation. Despite sharing a diameter with the recently introduced 911 Turbo models, the discs used for the GT3 are approximately 17 percent lighter due largely to the use of a narrower friction ring. Porsche Ceramic Composite Brakes (PCCB) are also available as an additional cost option. The optional system includes rotors with a diameter of 410 mm in the front and 390 mm in the rear that offer weight savings of about half compared to similarly sized cast iron brake discs and significantly improved thermal load capacity. The ability to deal with very high heat is achieved primarily through special cooling channels in the brake discs as well as newly developed, highly efficient ventilation of the brakes.

GT-specific forged alloy wheels with a 20″ diameter in front and 21″ diameter in the rear contribute to the overall improvement in vehicle dynamics. The front wheels are half an inch wider than the wheels of the previous GT3, and gain an inch of diameter in the rear. Despite increased width, the new wheels are also about 3.5 lbs (1.6 kg) lighter in total as compared to the wheels on the preceding model. Customers may also specify pin striping on the wheel in either Shark Blue or Guards Red.

Complementing the new wheels, specifically developed ultra high performance summer tires that are 10 mm wider at both the front and rear, now measuring 255/35ZR 20 on 9.5J x 20 front wheels and 315/30 ZR 21 on 12J x 21 wheels at the rear. For drivers who desire an even more track-focused setup, Porsche is offering a street legal track tire – previously reserved for RS models – for the first time. These tires were used to complete the benchmark laps set at the Nürburgring.

The new 911 GT3 lapped the 12.944 mile (20.832 km) configuration of the most demanding track in the world, the Nürburgring-Nordschleife, in 6:59.927 minutes. This is where the 911 GT3 demonstrates its capabilities in impressive fashion. During final testing, it lapped the Nürburgring-Nordschleife, traditionally the ultimate proving ground for all sports car developed by Porsche, over 17 seconds quicker than its predecessor.

Aerodynamics

Aerodynamics also play a critical role in the improved performance capability of the new model.  The new front fascia includes integrated cooling intakes as well as an adjustable front spoiler lip and an adjustable front diffuser that can be set up in stages for track use. Specifically developed side skirts optimize airflow around the wheels, but the most visually striking aerodynamic development lies at the rear where swan-neck connections support the rear wing, and a large rear diffuser is visible. As in the front, the rear wing is manually adjustable in stages ranging from settings intended for road use to positions intended for use only on tracks. Even in the «normal» position, aerodynamic downforce is up to 50 percent greater compared to the preceding 911 GT3. When the performance position, which is not intended for street use, is applied to both the front and rear, downforce increases by up to approximately 150 percent. 

Interior

The connection to racing continues inside where a GT3 Multifunction Sport steering wheel with a 360 mm diameter and upholstery in Race-Tex is standard equipment. For the first time in a 911 GT3, the steering wheel also includes a drive mode switch, allowing the driver to switch between driver configurable settings by simply turning the dial.

Four-way Sport Seats Plus are included as standard, while 18-way Sport Seats Plus and carbon fiber Full Bucket Seats, the latter of which save roughly 26 lbs. compared to the standard seats, are available as extra cost options. While most of the interior is closely related to other eighth-generation 911 models, one difference in particular is plainly obvious: the gear selection lever. Specifically designed for the GT3, the PDK gear selection lever is based on an adapted version of the manual transmission gearshift lever. Unlocking it to change gear selections is possible by pressing on the shift pattern visible on the top. Additionally, this design allows for manual upshifts and downshifts without the use of the paddles.

There is also a GT-specific «Track Screen» function that reduces the amount of information in the screens surrounding the analog tachometer to the bare essentials and groups that remaining information closely around the central dial so that remains easily visible. Tire pressure and water temperature are always visible on the left, and on the right the display is individually configurable.

The Chrono Package continues to be available as an additional cost option. This feature, which differs from the Sport Chrono Package found on many other Porsche models, adds an analog stopwatch on the dashboard and a digital stopwatch in the instrument cluster. This also adds Lap Trigger support. The Lap Trigger, which is available through Porsche Tequipment, allows for very precise measurement of lap times that can be analyzed and compared on a smartphone using the Porsche Track Precision app.

Market launch and availability

The new Porsche 911 GT3 is expected to arrive in U.S. as a part of the 2022 model year, reaching dealers by Fall 2021. Market specific pricing and order availability will be announced closer to that time. 

Visit newsroom.porsche.com for more photos of the new 911 GT3.

About Porsche Cars North America, Inc. | One Porsche Drive, Atlanta, GA 30354 USA

Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of the Porsche 911, 718 Boxster, 718 Cayman, Macan, Cayenne, Panamera and Taycan. Headquartered in Atlanta, Georgia, since 1998, PCNA is also home to the first Porsche Experience Center in North America featuring a module-based 1.6 mile driver development track, business center, and fine dining restaurant, 356. The company operates a second Porsche Experience Center near Los Angeles. That 53-acre complex features a driver development track with eight educational modules totaling 4.1 miles, a business center, and Restaurant 917. PCNA supports 192 independently owned and operated Porsche dealerships in the U.S., including supplying parts, service, marketing, and training. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the Porsche brand’s 70-year history of leadership in the advancement of vehicle performance, safety, and efficiency. PCNA is an indirect wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany.

At the core of this success is Porsche’s proud racing heritage that boasts some 30,000-plus motorsport wins to date.

Follow us: twitter.com/porsche | facebook.com/porsche | instagram.com/porsche facebook.com/PECAtlanta | instagram.com/pecatl | facebook.com/pecla | instagram.com/pecla

Photos and video footage are available to accredited journalists on the Porsche Press Database at http://press.porsche.com/.

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SOURCE Porsche Cars North America, Inc.

Top 3 Overseas Havens with Best Retiree Benefits in 2021–InternationalLiving.com

BALTIMORE, Feb. 16, 2021 /PRNewswire-PRWeb/ — Imagine a place where sunshine is ubiquitous, a high-quality lifestyle won’t cost the earth, and retirees are treated like VIPs, with red-carpet welcomes and rewards for age and experience. In the right spots abroad, that’s exactly what’s on offer today.

«Some countries actively court foreign retirees—dangling benefits beyond the built-in perks like low-cost living, warm weather, friendly locals, and beautiful surrounds,» says <span…

BALTIMORE, Feb. 16, 2021 /PRNewswire-PRWeb/ — Imagine a place where sunshine is ubiquitous, a high-quality lifestyle won’t cost the earth, and retirees are treated like VIPs, with red-carpet welcomes and rewards for age and experience. In the right spots abroad, that’s exactly what’s on offer today.

«Some countries actively court foreign retirees—dangling benefits beyond the built-in perks like low-cost living, warm weather, friendly locals, and beautiful surrounds,» says Jennifer Stevens, Executive Editor, International Living.

«Countries like Panama, Costa Rica, and Ecuador, for instance, offer low-barrier-to-entry residence visas for retirees, tax incentives, and senior discounts on everything from airfares to utilities to medical treatments,» says Stevens. «It makes sense. They can attract expats who have US dollars to spend but who won’t take a job from a local. It’s like turning on a spigot allowing outside money to flow into the economy. And, in turn, the retirees improve their quality of life while they lower their cost of living.»

These special places actively attract expat retirees by offering benefits and discounts like tax breaks, lower prices for services, and easy residence requirements.

The three countries that rank the highest in the Benefits and Discounts category in International Living’s 2021 Annual Global Retirement Index are Panama, Ecuador and Costa Rica.

# 3. Costa Rica

In third place, with 88 points, is Costa Rica.

When potential expats research Costa Rica, the benefits often heavily outweigh any perceived drawbacks.

Costa Rica is a country where the older generation is treated with respect by custom. And things like head-of-line privileges at banks and government offices are inscribed in the law. But there is also a government program available to those age 65 or older that gives discounts on a variety of products and services

«Being ‘Viejo’ or old is a rite of passage, a badge of honor in Costa Rica,» says Kathleen Evans, IL Costa Rica Correspondent. «And you will see simple things like seniors going to the front of the line—any line, enjoying special early shopping hours, free bus rides, and the Ciudando de Oro or Golden Citizen card.»

The Ciudando de Oro offers discounts from two to 20% from over-the-counter medications to groceries, and eyeglasses to clothing. You have to be 65+ and have to be resident to qualify.

«Even without residence, some expat community’s restaurants will offer a local night cash discount where food and drinks can be as much as 25% off regular prices,» says Evans.

Costa Rica is also home to the Caja Costarricense de Seguro Social (or simply known as the Caja), the country’s national healthcare system, which has been cited as a successful model for Latin America.  

«Once you have been approved for residence in Costa Rica, you pay a percentage (typically seven to 11%) of your reported monthly income into the system and then you have access to public healthcare without a co-pay, age restrictions, or denial for pre-existing conditions,» says Kathleen.

«If you choose to self-insure out-of-pocket—to simply pay for any needed treatment—this typically saves anywhere from 15% to 80% when compared to the same medical procedure in the U.S. at private hospitals.»

# 2. Ecuador

Ecuador, the Land of Eternal Spring, takes second place in this Benefits and Discounts category of IL’s Index with 95 points. 

Although Ecuador does not have an incentive program designed specifically for foreign residents, like Panama’s pensionado program, it does offer significant benefits to all residents age 65 and older.

Ecuador’s constitution guarantees foreign residents the same rights as their citizens, so expats can enjoy the same benefits as locals.

«When I first got to Ecuador I was left frustrated by a lot of older women cutting in line in front of me at banks, grocery stores, and public services office,» says Donna Stiteler, IL Ecuador Correspondent. «Then I realized I was entitled to the same treatment. If you’re a senior citizen, you can use the much shorter Preferencia line…so you’ll have more time to relax and enjoy your retirement in Ecuador.

«As a resident in Ecuador, the government offers a variety of benefits including 50% off public and private transportation within the country, 50% off tickets for all cultural and sporting events, including movies, a discount on electric and water bills and a reduction in a variety of taxes, including a refund of your 12% IVA (value-added) tax up to $92.64 per month.»

The best of the benefits for most expats in this category are discounted rates on international and domestic airline tickets. 

«You can also get a discount of 50% off airfare (not including airport fees, fuel surcharges, tax, etc.) for international travel on some airlines,» says Stiteler. «I never thought turning 65 would be so profitable.»

For foreign residents traveling to the U.K., Canada, or the West Coast of the U.S., savings can amount to thousands of dollars a year. To take advantage of the discount, international flights must originate in, and return to, Ecuador.

# 1. Panama (Winner)

Panama claims top ranking in the Benefits and Discounts category, scoring 96 points out of 100, in International Living’s 2021 Annual Global Retirement Index.

Panama’s Pensionado Program is designed specifically to attract foreign retirees. The requirements are intended to ensure that members are able to live well here, rather than just eke out an existence. That’s why being a resident pensionado in Panama also grants you access to a long list of government-mandated discounts. These have been in place for decades, helping locals and foreign residents on fixed incomes live their lives with dignity, as active members of society. 

Retirees in Panama get 50% off entertainment, such as movies, theaters, concerts, and sporting events. Hotel stays, restaurant meals, and transportation—bus, boat, train, and some airline fares—are also 25% to 50% cheaper when you’re a retiree resident. It’s an important reason why, in Panama, you see people of all ages dining out, going dancing, attending shows, exploring the country, and partying together.

Pensionados often have their own lines at banks and government offices. Even if there isn’t a dedicated line, staff and customers alike tend to wave retirees forward. There’s a certain level of respect and inclusion—two markers of a happy, healthy society.

«When my wife, Abbe, and I looked to retire overseas a few years ago, I found that Panama’s excellent Pensionado Visa or Retirement Program was a great way to stretch my Social Security pension,» says IL contributor Jim Gault. «We have used the hotel discount several times, recently staying two nights for the price of one at an exotic beach resort.»

While the pensionado discounts don’t cover every aspect of life, they cover the most important ones. Medical savings include 15% off hospital bills, 20% off prescription medicines, 20% off medical consultations, and 15% off dental and eye exams. Jim and Abbe have saved money on everything from ophthalmologist and orthopedic specialists to lab tests, digital X-rays, a yearly mammogram and an open MRI.

«When I had a cardiac event and had to have a small stent placed into the right side of my heart, the doctor, hospital, and insurance experience were all exceptional. I believe I had a much different and better experience than I would have had in the U.S.—and at a fraction of the cost,» Jim adds. «The doctors in Panama give you their cellphone and WhatsApp number. You can contact them and they will usually respond very quickly. Does that happen where you are from?»

All the things that really matter are discounted so retirees can maintain their pre-retirement lifestyles. And the rest is incredibly affordable—from property taxes and car insurance to tooth fillings and hired help. That’s pretty amazing, when you consider everything Panama has to offer. Where else in the world is this warm, safe, modern, and accessible…while also offering a truly cosmopolitan capital, cool mountain town, pristine beaches and islands…all outside the hurricane belt? Very few places can even come close to providing this kind of value.

More details on the top five countries in the Benefits and Discounts category of International Living’s Annual Global Retirement Index 2021 can be found here: Best Places in the World for Retiree Benefits in 2021.

International Living’s complete 2021 Annual Global Retirement Index can be found at: The World’s Best Places to Retire in 2021.

Members of the media have permission to republish the article linked above once credit is given to Internationalliving.com.

Further information, as well as interviews with expert authors for radio, TV or print, is available on request. Photos are also available.

For information about InternationalLiving.com content republishing, source material or to book an interview with one of our experts, contact Editorial Director for Web Content, Social Media, and PR, Donal Lucey, dlucey@internationalliving.com.

Instagram: https://www.instagram.com/internationalliving/
Twitter: @inliving
Facebook: https://www.facebook.com/International.Living/

About International Living

Since 1979, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has contributors traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.

Media Contact

Donal Lucey, www.internationalliving.com, +001 667 312 3532, DLucey@internationalliving.com

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SOURCE InternationalLiving.com

Fintech and NBWA Renew Industry-Leading Partnership

TAMPA, Fla., Feb. 16, 2021 /PRNewswire-HISPANIC PR WIRE/ — Financial Information Technologies, LLC («Fintech»), the leading business solutions provider for the beverage alcohol industry, today announced a renewed strategic partnership with the National Beer Wholesalers Association (NBWA), the leading voice for America’s 3,000 independent beer distributors. Together, Fintech and NBWA bring collaborative programs and resources to beer distributors across the country.

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TAMPA, Fla., Feb. 16, 2021 /PRNewswire-HISPANIC PR WIRE/ — Financial Information Technologies, LLC («Fintech»), the leading business solutions provider for the beverage alcohol industry, today announced a renewed strategic partnership with the National Beer Wholesalers Association (NBWA), the leading voice for America’s 3,000 independent beer distributors. Together, Fintech and NBWA bring collaborative programs and resources to beer distributors across the country.

Fintech logo

Since the relationship’s inception in 2014, Fintech and NBWA have significantly impacted the United States beer industry. In the last six and a half years, Fintech has welcomed nearly 150 NBWA members to its beverage alcohol management program and rebated hundreds of thousands of dollars to NBWA and its members. Fintech has also worked closely with Lester Jones, NBWA Chief Economist, to bring pivotal insights into beer industry data through Fintech’s InfoSource®, presenting the information through partnered content.

«For the last seven years Fintech has been an outstanding partner to NBWA, and I’m excited to see that relationship continue,» said NBWA President and CEO Craig Purser. «Fintech has been providing tremendous value to NBWA members for years, but that value was never more evident than during this past year. Their ability to help distributors execute safe, contactless commerce throughout the COVID-19 pandemic has been a huge help in keeping the supply chain moving forward.»

«We are honored to renew our partnership with NBWA. They’re a great organization, and they truly mirror our passion for providing cutting-edge resources to the beer industry,» said Tad Phelps, Chief Executive Officer of Fintech. «This relationship affords both Fintech and NBWA the opportunity to grow our networks and help distributors nationwide improve operational efficiencies and data insights.»

In addition to continued joint marketing efforts and participation in the NBWA Annual Convention, the new three-year agreement affords NBWA members a discount on annual Fintech support and maintenance fees. Additionally, this new contract doubles the existing growth rebate for eligible distributors as they grow their retailer network through Fintech.

About NBWA

The National Beer Wholesalers Association (NBWA) represents America’s 3,000 independent beer distributors who service every state, congressional district and media market across the country. Licensed at the federal and state levels, beer distributors get bottles, cans, cases and kegs from a brewer or importer to stores, restaurants and other licensed retail accounts through a transparent and accountable regulatory system. Distributors build brands of all sizes – from familiar domestic beers to new startup labels and imports from around the world – and generate enormous consumer choice while supporting more than 140,000 quality jobs in their home communities. Beer distributors work locally to keep communities safe by sponsoring programs to promote responsible consumption, combat drunk driving and reduce underage drinking.

About Fintech

Fintech is the leading business provider of affordable technology built to simplify beverage alcohol management for any business, of any size, that sells alcohol. We empower retailers, distributors, and suppliers by automating essential manual processes and data insights. With over 30 years of industry experience and unwavering dependability, Fintech delivers an immediate ROI to 635,000 business relationships nationwide by simplifying the day-to-day functions necessary to protect and grow alcohol margins. To learn more, visit www.fintech.com

FINANCIAL-INFORMATION-TECHNOLOGIES, LLC. is the owner of the trademark FINTECH, the Stylized F Logo, and several other trademarks and service marks, many of which are registered at the U.S. Patent and Trademark Office. The underlying software behind the services offered by FINANCIAL-INFORMATION-TECHNOLOGIES, LLC and content of this website are ©2020 FINANCIAL-INFORMATION-TECHNOLOGIES, LLC. All rights reserved.

Contact: Misha Hart, 800.572.0854 x 3827, mhart@fintech.com

Lauren Kane, 703.519.3097, lkane@nbwa.org

Follow @Fintech & @NBWA on Facebook, Twitter, and LinkedIn

Logo – https://mma.prnewswire.com/media/562037/Fintech_logo_with_tm_dk_bl.jpg  

SOURCE Fintech

LF Energy Partners with Sony Computer Science Laboratories to Launch Open-Source Microgrid Project

SAN FRANCISCO, Feb. 16, 2021 /PRNewswire/ — LF Energy, a Linux Foundation nonprofit seeking to accelerate the energy transition of the world’s grids and transportation systems through open source, along with its newest member, <a target="_blank"…

SAN FRANCISCO, Feb. 16, 2021 /PRNewswire/ — LF Energy, a Linux Foundation nonprofit seeking to accelerate the energy transition of the world’s grids and transportation systems through open source, along with its newest member, Sony Computer Science Laboratories, Inc. (Sony CSL), a subsidiary of Sony Corporation, announced today Hyphae, a microgrid initiative to automate the peer-to-peer distribution of renewable energy.

With energy resources and infrastructure increasingly challenged to meet the coming impacts of climate change and natural disaster, Hyphae aims to make microgrids more resilient. It will do so by transitioning Sony CSL’s existing software, Autonomous Power Interchange System (APIS), which automatically and efficiently distributes locally-produced renewable energy over a DC grid, to work with AC Grids. With resilient, peer-to-peer microgrid energy trading, even the most remote communities will be able to store and distribute energy autonomously without connecting to large-scale power stations or electrical distribution networks.

«Sony CSL is a subsidiary of one of the world’s premier companies, and by launching Hyphae with us, they are making a profound statement about their intention to collaborate and lead to solve the world’s most complicated problem — decarbonization,» said Dr. Shuli Goodman, Executive Director of LF Energy. «Working with Sony CSL will help us spur energy transformation in developed countries, as well as bring electrification to energy-poor corners of the planet.»

As the world races to develop and build microgrids that are resilient and flexible, an open-source, automated microgrid controller and peer-to-peer trading platform like Hyphae will allow for faster innovation while decreasing costs for everyone. Partnering with Sony CSL brings LF Energy closer to its goal of building the first interoperable AC- and DC-ready microgrid that is self-contained, operational off-grid and able to connect to an electrical distribution network with utility oversight.

«By working with LF Energy, we see a path toward an interoperable, cloud-native, configurable microgrid that will revolutionize the world’s relationship with networking energy,» said Dr. Hiroaki Kitano, president and CEO of Sony CSL. «We share the sense of urgency to act on climate issues, which is why we decided to turn a part of our decade-long research into open source, and to work with LF Energy. This is a call to action for the greatest companies in the world to work together to revolutionize the global energy landscape, including residential and industrial energy systems, power systems and the green electrification of transportation.»

LF Energy is currently looking to collaborate with hardware partners to ensure they create an entirely interoperable system. If you are interested in learning more about Hyphae or LF Energy, visit: https://www.lfenergy.org/

About LF Energy

A first-of-its-kind initiative, LF Energy provides a 21st century plan of action to solve climate change through open frameworks, reference architectures and a support ecosystem of complementary projects. In addition to RTE, members include Alliander, Energinet, TenneT, Elering, IBM, NREL, Recurve, Stanford University, OSISoft, Unicorn, Wind River, Cloud Bees, Alan Turing Institute, Pecan Street, and many others. Find further information here: https://www.lfenergy.org.

Media Contact
Katy Hoeper, PR Manager
Walker Sands for LF Energy 
lfenergypr@walkersands.com 

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SOURCE LF Energy

REE Automotive Opens New Engineering Center of Excellence

TEL AVIV, Israel, Feb. 16, 2021 /PRNewswire/ — REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.

The Engineering Center will spearhead…

TEL AVIV, Israel, Feb. 16, 2021 /PRNewswire/ — REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.

The Engineering Center will spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. REE will also have access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform at the MIRA Technology Park in the UK.

REE’s unique CapEx-light manufacturing model will utilize globally located integration centers, creating scalable and agile unit economics. REE intends to assemble components at its integration centers, thus reducing Capex requirements, and expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.

REE's P1, P2 and P4 platforms in the field.

Daniel Barel, REE’s Co-Founder and CEO: «I am excited to announce another major milestone for REE towards bringing our technology and products to the market as we expand our global footprint. With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Center is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.»

REE’s technology empowers global mobility companies with the flexibility to build electric and autonomous cars, vans and trucks of any size or shape, for any application, and any target market. REE’s proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. This groundbreaking concept, unique to REE, allows a completely flat and modular electric chassis and provides customers with full design freedom to create the broadest range of electric and autonomous vehicles. EVs and AVs built on REEcorner and EV platform technology will offer more room for passengers, cargo, and batteries in a manner unprecedented in the industry. REE’s proprietary technology is agnostic to vehicle size and design, power-source and driving mode (human or autonomous).

Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade: «The UK is the most welcoming location for a pioneering automotive company like REE thanks to our leading position in both CAM and vehicle electrification. The Government’s multi-million ‘Driving the Electric Revolution’ program, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this exciting investment to the UK. I wish the company every success in its new home.»

Mike Charlton, REE’s COO, who is responsible for the launch stated, «A key driver in our decision to establish our presence in the UK is the UK government’s forward-thinking vision and zero-emissions policy that perfectly aligns with REE’s goal of heralding a more sustainable, greener future for our generation and those to come.»

The opening of REE’s new Engineering Center at MIRA Technology Park in the UK – Europe’s leading mobility R&D location for developing the latest automotive technology – is anticipated to create approximately 200 highly skilled jobs in the next few years.

About REE Automotive
REE is an automotive technology leader creating the cornerstone for tomorrow’s zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.

Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany. REE has a unique CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with their unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility. For more information visit https://www.ree.auto.

About MIRA Technology Park
MIRA Technology Park is Europe’s leading mobility R&D location for developing the latest automotive technology. It is a national centre of excellence and located in the middle of the UK automotive sector, providing access to over 40 major test facilities and the UK’s most comprehensive proving ground. MIRA Technology Park is home to over 35 global OEMs, Tier 1 and specialist automotive technology companies. The purpose-designed campus creates a unique collaborative ecosystem, bringing together world-class facilities and skilled engineers, to provide a location for innovation and technological development.

Additional Information
This communication is being made in respect of the proposed transaction involving REE Automotive Ltd. («REE») and 10X Capital Venture Acquisition Corp («10X SPAC»). This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connection with the proposed transaction, REE will file with the Securities and Exchange Commission («SEC») a registration statement on Form F-4 that will include a proxy statement of 10X SPAC in connection with 10X SPAC’s solicitation of proxies for the vote by 10X SPAC’s shareholders with respect to the proposed transaction and other matters as may be described in the registration statement. REE and 10X SPAC also plan to file other documents with the SEC regarding the proposed transaction and a proxy statement/prospectus will be mailed to holders of shares of 10X SPAC’s Class A ordinary shares. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE FORM F-4 AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about REE and 10X SPAC will be available without charge at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus can also be obtained, when available, without charge, from REE’s website at https://ree.auto/. Copies of the proxy statement/prospectus can be obtained, when available, without charge, from 10X SPAC’s website https://www.10xspac.com/.

Participants in the Solicitations
REE, 10X SPAC and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from 10X SPAC’s shareholders in connection with the proposed transaction. You can find more information about 10X SPAC’s directors and executive officers in 10X SPAC’s final prospectus dated November 24, 2020 and filed with the SEC on November 25, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

Caution About Forward-Looking Statements
This communication includes forward-looking statements. These forward-looking statements are based on REE’s and 10X SPAC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s and 10X SPAC’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for REE or 10X SPAC to predict these events or how they may affect REE or 10X SPAC. Except as required by law, neither REE nor 10X SPAC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s and 10X SPAC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against REE or 10X SPAC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of 10X SPAC or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of 10X SPAC or REE as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; REE’s estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; intense competition in the e-mobility space, including with competitors who have significantly more resources; ability to grow and scale REE’s manufacturing capacity through new relationships with Tier 1 suppliers; ability to maintain relationships with current Tier 1 suppliers and strategic partners; ability to make continued investments in REE’s platform; the need to attract, train and retain highly-skilled technical workforce; the impact of the ongoing COVID-19 pandemic; changes in laws and regulations that impact REE; ability to enforce, protect and maintain intellectual property rights; and risks related to the fact that we are incorporated in Israel and governed by Israeli law; and other risks and uncertainties set forth in the section entitled «Risk Factors» and «Cautionary Note Regarding Forward-Looking Statements» in 10X SPAC’s final prospectus dated November 24, 2020 relating to its initial public offering and in subsequent filings with the SEC, including the proxy statement relating to the business combination expected to be filed by 10X SPAC.

Media Contact
Keren Shemesh
Chief Marketing Officer
REE Automotive
E: kerens@ree.auto  
M: +972-54-5814333

 

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SOURCE REE Automotive

Fintech and NBWA Renew Industry-Leading Partnership

TAMPA, Fla., Feb. 16, 2021 /PRNewswire/ — Financial Information Technologies, LLC («Fintech»), the leading business solutions provider for the beverage alcohol industry, today announced a renewed strategic partnership with the National Beer Wholesalers Association (NBWA), the leading voice for America’s 3,000 independent beer distributors. Together, Fintech and NBWA bring collaborative programs and resources to beer distributors across the country.

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TAMPA, Fla., Feb. 16, 2021 /PRNewswire/ — Financial Information Technologies, LLC («Fintech»), the leading business solutions provider for the beverage alcohol industry, today announced a renewed strategic partnership with the National Beer Wholesalers Association (NBWA), the leading voice for America’s 3,000 independent beer distributors. Together, Fintech and NBWA bring collaborative programs and resources to beer distributors across the country.

Since the relationship’s inception in 2014, Fintech and NBWA have significantly impacted the United States beer industry. In the last six and a half years, Fintech has welcomed nearly 150 NBWA members to its beverage alcohol management program and rebated hundreds of thousands of dollars to NBWA and its members. Fintech has also worked closely with Lester Jones, NBWA Chief Economist, to bring pivotal insights into beer industry data through Fintech’s InfoSource®, presenting the information through partnered content.

«For the last seven years Fintech has been an outstanding partner to NBWA, and I’m excited to see that relationship continue,» said NBWA President and CEO Craig Purser. «Fintech has been providing tremendous value to NBWA members for years, but that value was never more evident than during this past year. Their ability to help distributors execute safe, contactless commerce throughout the COVID-19 pandemic has been a huge help in keeping the supply chain moving forward.»

«We are honored to renew our partnership with NBWA. They’re a great organization, and they truly mirror our passion for providing cutting-edge resources to the beer industry,» said Tad Phelps, Chief Executive Officer of Fintech. «This relationship affords both Fintech and NBWA the opportunity to grow our networks and help distributors nationwide improve operational efficiencies and data insights.»

In addition to continued joint marketing efforts and participation in the NBWA Annual Convention, the new three-year agreement affords NBWA members a discount on annual Fintech support and maintenance fees. Additionally, this new contract doubles the existing growth rebate for eligible distributors as they grow their retailer network through Fintech.

About NBWA

The National Beer Wholesalers Association (NBWA) represents America’s 3,000 independent beer distributors who service every state, congressional district and media market across the country. Licensed at the federal and state levels, beer distributors get bottles, cans, cases and kegs from a brewer or importer to stores, restaurants and other licensed retail accounts through a transparent and accountable regulatory system. Distributors build brands of all sizes – from familiar domestic beers to new startup labels and imports from around the world – and generate enormous consumer choice while supporting more than 140,000 quality jobs in their home communities. Beer distributors work locally to keep communities safe by sponsoring programs to promote responsible consumption, combat drunk driving and reduce underage drinking.

About Fintech

Fintech is the leading business provider of affordable technology built to simplify beverage alcohol management for any business, of any size, that sells alcohol. We empower retailers, distributors, and suppliers by automating essential manual processes and data insights. With over 30 years of industry experience and unwavering dependability, Fintech delivers an immediate ROI to 635,000 business relationships nationwide by simplifying the day-to-day functions necessary to protect and grow alcohol margins. To learn more, visit www.fintech.com

FINANCIAL-INFORMATION-TECHNOLOGIES, LLC. is the owner of the trademark FINTECH, the Stylized F Logo, and several other trademarks and service marks, many of which are registered at the U.S. Patent and Trademark Office. The underlying software behind the services offered by FINANCIAL-INFORMATION-TECHNOLOGIES, LLC and content of this website are ©2020 FINANCIAL-INFORMATION-TECHNOLOGIES, LLC. All rights reserved.

Contact: Misha Hart, 800.572.0854 x 3827, mhart@fintech.com

Lauren Kane, 703.519.3097, lkane@nbwa.org

Follow @Fintech & @NBWA on Facebook, Twitter, and LinkedIn

 

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SOURCE Fintech

Berks County District Attorney John Adams Endorses James Gavin for Judge of the Court of Common Pleas

WYOMISSING, Pa., Feb. 16, 2021 /PRNewswire/ — After more than thirty-two years of legal and trial experience, James Gavin is running for Judge of the Court of Common Pleas of Berks County because Integrity & Experience Matter. In a testament to Gavin’s integrity and experience, Berks County District Attorney John Adams is endorsing his candidacy.

WYOMISSING, Pa., Feb. 16, 2021 /PRNewswire/ — After more than thirty-two years of legal and trial experience, James Gavin is running for Judge of the Court of Common Pleas of Berks County because Integrity & Experience Matter. In a testament to Gavin’s integrity and experience, Berks County District Attorney John Adams is endorsing his candidacy.

«Your experience in many areas of the law is exemplary and as a result, you will have the knowledge and the experience to handle varied judicial assignments,» stated District Attorney John Adams in a letter to Gavin.

James Gavin said, «I am honored to receive the endorsement from District Attorney Adams. Our District Attorney displays the perfect example of rectitude that our justice system was founded upon.»

Gavin concluded, «A Supreme Court Justice once observed that the personal security and interests of our citizens rest on the wisdom, stability, and integrity of the judges who serve in our courts. With my years of experience, I intend to bring wisdom, stability, and integrity to the bench, applying the rule of law to everyone evenhandedly.»

Gavin intends to bring his lengthy experience as an attorney and counsellor at law to the Court of Common Pleas and will serve the community with honor and distinction. He possesses all of the qualities necessary to serve the people of Berks County.

Gavin began his career as an assistant district attorney where he prosecuted literally hundreds of cases. At the time of his departure, he held the position of Chief of Trials.

While in private practice as a partner in the Wyomissing law firm of Masano Bradley, Gavin’s experience expanded exponentially. He remains grounded in a litigation practice, handling all types of cases throughout Pennsylvania. He also a broad appellate practice with cases in the Pennsylvania Superior Court, Pennsylvania Commonwealth Court, Pennsylvania Supreme Court and the United States Third Circuit Court of Appeals.

Additionally, he has litigated cases before various state and federal agencies including the labor relations boards, the Pennsylvania Human Relations Commission and the Equal Employment Opportunity Commission.

In May of 2020, Gavin celebrated his thirtieth wedding anniversary with his wife, Ruth.  Gavin and his wife have three daughters. In the fall of 2019, they welcomed their first grandchild to their family.

Contact: Michael Barley
717-576-6733

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SOURCE Committee to Elect James Gavin