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Engineering for Change and Siemens Extend Deadline for Clean Water and Zero Hunger Design Challenge

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With software and a computer, anyone, anywhere, has the tools they need to address the worlds greatest challenges. This spirit of innovation is at the heart of Innovate for Impact: Siemens Design Challenge. And as students worldwide pursue distance learning amidst the COVID-19 pandemic, organizers have extended the Innovate for Impact application deadline to Monday, May 4, to create more opportunities to explore digital innovation.

The American Society of Mechanical Engineers (ASME) and Engineering for Change (E4C), in collaboration with global technology company Siemens, recently launched Innovate for Impact as a call to action for socially minded engineers and hardware innovators to address two of the United Nations sustainable development goals focused on zero hunger and clean water. The competition gives individuals the opportunity to develop solutions to address fundamental human needs for clean water and adequate food supply.

Now is the time to be socially distant, but its not the time to be disconnected. Digital technology continues to transform the industries in which we work and communities where we live. Amid this, we see a strong opportunity to apply digital transformation to drive innovation in global development and use technology to change the world in a positive way, says John Miller, senior vice president of mainstream engineering software for Siemens Digital Industries Software.

Each winning solution will be awarded $10,000. Interested participants can learn more about the issues, access online training, review best practices and case studies in human centered design, and submission criteria for the Challenge at https://bit.ly/2UTJKmS.

E4C, a platform co-founded and adopted by the American Society of Mechanical Engineers (ASME), will coordinate the application and evaluation process, share human-centered design principles and a variety of other tools and resources with applicants, while Siemens will provide free access to and training on cutting-edge technology tools for digital design and engineering, including Solid Edge software and a new co-creation platform developed with Siemens Mendix platform for low-code application development. Siemens software is widely used by the worlds leading companies to design, engineer and manufacture all types of products and infrastructure.

The co-creation platform for the challenge opened on March 4, World Engineering Day for Sustainable Development. During the plan and learn pre-application phase of the challenge, prospective applicants can review and consider participation in one of two tracks: zero hunger and clean water. They can either design a postharvest off-grid preservation technology to reduce farm-to-table food loss in lower resource settings that lack electricity. Or, applicants may choose to design a very low-cost, energy-efficient, scalable technology for desalinating brackish water.

Once they have decided on a track, familiarized themselves with available resources, and submitted an application with their proposed solution, accepted applicants will enter the design phase of the challenge. Over the course of the challenge, participants will be asked to:

  • Submit a 60-second video introducing their team and product concept
  • Research and explore the needs of their end user
  • Design their concept in 3D CAD software
  • Iterate their design based on their research and provide justification for decisions
  • Simulate how their product works
  • Submit a video pitching their product concept.

The global COVID-19 pandemic has forced all of us to change the way we work, interact socially, and think about our sphere of influence. At E4C, our resolve to improve the quality of life through novel ideas and technology is stronger than ever, says Iana Aranda, director of engineering global development programs for ASME. We are particularly energized by the response we’re seeing to the Innovate for Impact: Siemens Design Challenge and inspired by the power of our interconnected community.

Winners will be announced in September 2020. For more information about Innovate for Impact: Siemens Design Challenge, please visit https://bit.ly/2UTJKmS.

@Engineer4Change #innovateforimpact #SiemensChallenge #TodayMeetsTomorrow

About Engineering for Change (E4C)

Engineering for Change (E4C) is a knowledge organization dedicated to preparing, educating and activating the international engineering workforce to improve the quality of life of underserved communities worldwide. E4C provides access to resources, talent and platforms that accelerate the development of impactful solutions and infuse engineering rigor into global development. Our diverse, global community of over 1 million people is comprised of engineers, technologists, social entrepreneurs and development practitioners.

Jointly founded by ASME and other leading engineering societies, E4C has attracted the support of a variety of partners and sponsors ranging from industry, academia, non-profits and multilateral organizations, and corporations including Siemens.

About ASME

ASME helps the global engineering community develop solutions to real-world challenges. Founded in 1880 as the American Society of Mechanical Engineers, ASME is a not-for-profit professional organization that enables collaboration, knowledge sharing and skill development across all engineering disciplines, while promoting the vital role of the engineer in society. ASME codes and standards, publications, conferences, continuing education and professional development programs provide a foundation for advancing technical knowledge and a safer world. For more information visit asme.org.

About Siemens USA

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed company Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy, Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. For more than 160 years, the company has innovated and invented technologies to support American industry spanning manufacturing, energy, healthcare and infrastructure. In fiscal 2018, Siemens USA reported revenue of $23.7 billion, including $5.0 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico. Follow us on Twitter at: www.twitter.com/siemensUSA

Media contacts:

Monica Shovlin

MCShovlin Communications LLC

(for E4C and ASME)

[email protected]

+1 541-554-3796

Alex Becker

Siemens USA

[email protected]

+1 202-215-9010

 

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Lument Provides $21.5 Million in Freddie Mac Financing for Affordable Housing in El Paso

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NEW YORK, Dec. 2, 2020 /PRNewswire/ — Lument, a national leader in commercial real estate finance,   announced today that it provided a $21.5 million Freddie Mac unfunded forward commitment loan to facilitate the substantial renovation of Jackie Robinson Memorial Apartments, an affordable multifamily property in El Paso, Texas.  Lument is the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group.

“By combining the Freddie Mac unfunded forward loan with tax credit equity and other soft funding sources, we were able to put in place an attractive debt structure to help improve these much-needed affordable apartments,” said Josh Reiss, director at Lument.

Originally built in 1975, Jackie Robinson is a 186-unit, 4% low-income housing tax credit (LIHTC) community in the Housing Authority of the City of El Paso (HACEP) portfolio. As part of the transaction, the property will receive Section 8 assistance that will facilitate the conversion to long-term, project-based voucher (PBV) rental assistance. Subsequently, all 186 units will be restricted to tenants earning income at or below 60% area median income (AMI).

The $21.5 million Freddie Mac loan features a low, fixed interest rate, 18-year term with three years of interest only, and a 35-year amortization schedule. The forward commitment term will be 30 months with one six-month extension.

Jackie Robinson will undergo substantial interior and exterior construction, including a gut renovation of all residential units, from new drywall to new kitchen appliances. In addition, exteriors will be improved with new windows and doors, repaired or replaced roofs, and new stair towers.

Construction began in October 2020 and is expected to be complete within 24 months.

Mr. Reiss and the Lument team have financed over 960 units in partnership with HACEP, totaling $41 million. Since 2015, the team has financed over $565 million in RAD transactions for a total of approximately 6,500 units.

About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities. Member FINRA/SIPC. For more information, visit www.lument.com.

MEDIA CONTACT                                                                                                           
Michael Ratliff | Marketing Director
212-588-2163 | [email protected]

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SOURCE Lument

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IPC Partners with Greenprint Capital to expand the Solar PPA offer throughout the United States

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ROCKY HILL, Conn., Dec. 2, 2020 /PRNewswire-PRWeb/ — Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the intersection of community development, clean energy finance, and climate impact is pleased to announce the closing of a tax equity partnership with San Diego-based Greenprint Capital, as well as a debt facility with the Connecticut Green Bank. Having launched these two partnerships, IPC is now able to acquire, develop, construct, and operate distributed solar projects throughout the United States. IPC's solar Power Purchase Agreement (PPA) provides direct financial savings to customers in underserved markets – small-scale commercial properties, houses of worship, affordable multifamily housing, and non-profits. IPC can be flexible to accommodate most commercial or community-scale customers.

“Launching a solar PPA platform has been a major component of IPC's strategy since our formation in 2018. Building on the many years in which our staff supported the Connecticut Green Bank's solar PPA program in Connecticut, IPC is well-positioned to deliver energy-saving solar PPAs to customers who might otherwise be overlooked by traditional financiers. We are thrilled to be partnering with Greenprint Capital and Connecticut Green Bank to achieve this major milestone in IPC's growth,” said Kerry O'Neill, IPC's Chief Executive Officer.

IPC's first four solar projects are in Connecticut, acquired from the Connecticut Green Bank, and include two schools, an Islamic center and a Boys and Girls Club. The projects total 495 kW and are anticipated to save the customers approximately $20,000 in their first year of operation. IPC's first four solar customers include:

  • Boys and Girls Club of the Lower Naugatuck Valley – 127 kW Rooftop Project
  • Bridgeport Islamic Community Center – 75 kW Rooftop Project
  • The Country School – 107 kW Rooftop Project
  • Washington Montessori School – 186 kW Rooftop Project

Bert Hunter, Connecticut Green Bank's Chief Investment Officer noted, “IPC will be one of our key partners in continuing to serve the Connecticut solar market. With this latest round of financing, we are confident IPC has the tools needed to manage the solar PPA partnership throughout the state of Connecticut and beyond. We are eager to see IPC replicate and expand upon the success the Connecticut Green Bank has had in creatively de-risking projects to provide access to previously credit-challenged potential solar customers.”

Antoine Bishara, Principal at Greenprint Capital, said, “IPC's focus on de-risking solar projects in underserved markets is a great fit for Greenprint's approach to tax equity investment. We see Greenprint's role in the market as leveraging our efficiency to lower financing costs and unlock the small and medium scale distributed solar market for tax investors. That efficiency is even more important when it results in lower PPA prices for important community organizations like IPC's customers.”

John D'Agostino, Director of Financing Programs at IPC said, “we are very excited about our first four projects in Connecticut and are grateful for the opportunity to serve four organizations whose missions align with our own. The Solar PPA projects will help these customers continue to provide a wide array of services to their communities. Greenprint's nimble and efficient approach to tax equity financing is a major reason we're able to make this possible. This partnership will allow IPC to provide financing solutions to commercial and community solar developers as well as energy savings to their customers. We hope to remain long-term partners and bring the success we've achieved with Greenprint in Connecticut to IPC's pipeline of solar projects throughout the country.”

About Greenprint Capital:
Greenprint is a professional advisory and consulting firm focused on structured tax credit and preferred equity investments in renewable energy projects. Greenprint and its financial partners invest in and support infrastructure development activities and seeks to serve all stakeholders involved

About the Connecticut Green Bank:
The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation's first full-scale green bank, its mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit http://www.ctgreenbank.com.

About Inclusive Prosperity Capital:
Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling its work in Connecticut and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity.

Media Contact

Madeline Priest, Inclusive Prosperity Capital, +1 860-257-2891, [email protected]

 

SOURCE Inclusive Prosperity Capital

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Edward Jones Named One of the 2020 Best Workplaces for Parents™ by Great Place to Work® and FORTUNE Magazine

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ST. LOUIS, Dec. 2, 2020 /PRNewswire/ — Financial-services firm Edward Jones has been named one of the 2020 Best Workplaces for Parents by Great Place to Work® and FORTUNE Magazine. The firm, ranked No. 7 on the list of 100 companies, earned this award for creating consistently positive experiences for working parents.

Great Place to Work determined the Best Workplaces for Parents by gathering and analyzing employee experience feedback representing 4.8 million U.S. employees across more than 20 industries – the largest annual study of working parents to date.

“Edward Jones is extremely proud of this recognition that spotlights the work environment we've built, and evolved, to support our parents. This is particularly significant in light of the difficult and novel challenges facing parents this year,” said Kristin Johnson, Edward Jones Chief Human Resources Officer. “We strive to create a people-first culture for all associates that allows them to effectively manage their commitment both to our clients and to their families.”

Since forming in Spring 2020, the Edward Jones Parental/COVID-19 Taskforce has acted as a key listening post and strategy team advocating for the needs of associates, their families and working in a remote environment. The 20-member taskforce, with representatives from multiple areas of the firm, has created critical policies, programs and solutions that provide support for navigating pandemic-related issues in five areas: workplace flexibility, time off, dependent care and educational support for children, health and wellness, and financial support.

Support for parents and families includes:

  • Associates in distress due to COVID-related financial challenges can look to help from the Edward Jones Disaster Relief Fund. Associates and retirees donated $930,000 to the fund this summer to assist colleagues.
  • To help ease family concerns around health expenses, the Edward Jones medical plan provides no-cost care for COVID-related testing and treatment through the end of 2020. And to remove barriers to care and the burden of costs, the firm waived the deductible for the treatment of COVID-19 from both in- and out-of-network providers.
  • Associates have 10 extra personal days this year, and we've revised our sick/safe time policy, allowing associates to use sick time for any COVID-related reason, including childcare needs, through the end of the year.
  • Many associates have worked remotely since mid-March, allowing parents to be with children and other dependents as schools and care centers closed.
  • The firm's Investing in You website contains a wealth of information for families struggling to balance childcare, at-home learning and work. There are 60-plus resources for working parents. The firm also offers free online webinars on subjects such as helping kids cope with pandemic anxiety as they return to school, how working parents can structure their day, and how to manage their workspace and teaching space.

Rankings are based primarily on parents' scores of trust and fairness across the company culture, including levels of trust, pride, management effectiveness, innovation, diversity and equity. The analysis focused on how parents' workplace experiences compare to those of their non-working colleagues and determining whether their job level, race/ethnicity or any personal characteristic changed the level of support they received as a working parent. Finally, each company's parental leave, adoption, flexible schedule, childcare and dependent health care benefits were evaluated.

“Best workplaces like Edward Jones have built dynamic, flexible, and transparent workplaces built on trust,” said Michael C. Bush, CEO of Great Place to Work. “This gives companies on this list a powerful opportunity not just to do well for their people, but also to do well for their businesses.”

About Edward Jones

Edward Jones, a FORTUNE 500 firm headquartered in St. Louis, provides financial services in the U.S. and, through its affiliate, in Canada. Every aspect of the firm's business, from the investments its financial advisors offer to the location of its branch offices caters to individual investors. The firm's 19,000-plus financial advisors serve more than 7 million clients and care for $1.3 trillion in assets under management.  The Edward Jones website is at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com. Member SIPC.

About Great Place to Work®

Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees around the world and used those deep insights to define what makes a great workplace: trust. Great Place to Work helps organizations quantify their culture and produce better business results by creating a high-trust work experience for all employees. Emprising®, their culture management platform, empowers leaders with the surveys, real-time reporting, and insights they need to make data-driven people decisions. Their unparalleled benchmark data is used to recognize Great Place to Work-Certified™ companies and the Best Workplaces™ in the US and more than 60 countries, including the 100 Best Companies to Work For® and World's Best Workplaces list published annually in Fortune. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.

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SOURCE Edward Jones

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