Streetbeat News

Corporate Responsibility

LHX

L3Harris is set to expand and modernize its solid rocket motor manufacturing facility in Virginia, with the majority of the $41.2M investment stemming from a cooperative agreement signed with the Department of Defense (DoD) last year through Aerojet Rocketdyne. The Commonwealth of Virginia and Orange County are providing approximately $2.18M in incentives to support the site improvement and construction efforts.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:19 pm

SOUHY

TMQ

VMXXF

The Biden administration's plan to block the Ambler Road project in Alaska, which would have provided access to a mining district for copper and other minerals exploration, has drawn criticism from the mining industry, state officials, and some native groups. The decision is seen as a conflict between environmental protection and the need for domestic mineral sources for renewable energy. Companies like Trilogy Metals Inc. (TMQ) and South32 (SOUHY), part of the Ambler Metals joint venture, and Valhalla Metals Inc (VMXXF) are directly affected, expressing disappointment and considering legal options. The decision also highlights divisions among native tribes and concerns about economic development and environmental impacts.

Portfolio Pulse from Matt Whittaker

April 18, 2024 | 2:07 pm

AAPL

RERE

The rise in smartphone recycling is attributed to a combination of factors including government initiatives, private sector participation, and economic conditions. President Xi Jinping's advocacy for a circular economy, the growth in used smartphone sales, and partnerships like that between ATRenew Inc. and Apple are key highlights. ATRenew's expansion into recycling various consumer goods and its commitment to ESG principles underscore the growing importance of sustainability in business practices.

Portfolio Pulse from The Bamboo Works

April 18, 2024 | 2:06 pm

TBIO

Telesis Bio Inc. (NASDAQ:TBIO) announced a strategic shift to focus on its Gibson SOLA enzymatic DNA synthesis platform and BioXp mRNA solutions, aiming to accelerate drug discovery. The company also reported a CEO change, with Eric Esser taking over from Todd R. Nelson. Telesis Bio has entered into a co-development and marketing agreement with a leading automation provider and expanded its commercial channel through a distribution agreement with Avantor. The company has achieved cost savings by restructuring operations, reducing operating expenses, and extending its cash runway.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:17 pm

SMTI

Sanara MedTech has secured a $55 million non-dilutive term loan agreement with CRG Servicing to fund its growth initiatives for 2024 and 2025. This financial move is aimed at supporting the company's expansion without diluting existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:16 pm

UNFI

United Natural Foods, Inc. (UNFI) has implemented Samsara's vehicle telematics, asset gateways, environmental monitors, and video-based safety solutions to enhance its operational efficiency and safety measures. This adoption signifies UNFI's commitment to leveraging technology for better fleet management and environmental monitoring.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:14 pm

ZTS

Scout Clean Energy has signed a 12-year Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt portion of the Heart of Texas Wind Farm. This agreement supports Zoetis' goal to achieve carbon neutrality by 2030 by securing renewable energy and generating Renewable Energy Certificates (RECs). The Heart of Texas Wind Farm, owned and operated by Scout, a Brookfield Asset Management portfolio company, contributes significantly to the local economy and the renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:12 pm

BYND

Beyond Meat, Inc. (NASDAQ:BYND) has launched the fourth generation of its Beyond Burger and Beyond Beef products, featuring significant improvements in taste, nutrition, and cooking performance. These new products, which are now available at major U.S. grocery stores including Walmart and Kroger, offer 21g of plant-based protein per serving, only 2g of saturated fat thanks to the use of avocado oil, and have received positive feedback from consumers and health professionals alike. The launch is part of Beyond Meat's ongoing efforts to enhance the health and environmental benefits of its plant-based meat offerings, with the new products also being recognized by leading health organizations and receiving certifications for their nutritional quality.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:10 pm

CBT

Cabot Corporation and its partners have been selected to receive a $5 million grant from the U.S. Department of Energy to support the development of innovative, scalable manufacturing processes for producing carbon catalyst supports for fuel cells. This initiative aims to enhance fuel cell deployment by improving the production efficiency and reducing costs of key components.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:07 pm

CARR

Carrier Global Corporation (NYSE:CARR) announced an investment and technology partnership with Strategic Thermal Labs (STL) for the development of a liquid cooling solution for data centers. This technology is expected to significantly reduce energy consumption in data centers, with the liquid cooling market projected to grow to $3-5B by 2028. Carrier's investment in STL, following its acquisition of Nlyte in 2021, aligns with its ESG goals to reduce greenhouse gas emissions and develop sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:06 pm