Streetbeat News

Partnerships

FRGT

Freight Technologies, Inc. (FRGT) shares surged following the announcement that Amazon Mexico has renewed its contract with the company for the use of Fr8App for logistics solutions.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:20 pm

GREE

NBST

Infinite Reality, a leader in AI-virtual immersive experiences, announced a strategic partnership and equity swap with Greenidge Generation Holdings. The partnership includes infrastructure support, profit sharing, and preferred pricing for data center needs. Infinite Reality plans to go public in early 2024 through Newbury Street Acquisition Corporation (NBST). The equity swap involves iR obtaining Greenidge shares at $8.33 each, with a $2.5 billion valuation for iR, and mutual one-year warrants for stock purchases. GreenidgeAI will be iR's exclusive infrastructure provider in the US and Canada, and they may jointly develop a new data center.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:19 pm

FCCO

First Community Corporation (FCCO) announced leadership changes at First Community Bank. J. Ted Nissen will become CEO of the bank while retaining his role as President and join the Board of Directors on July 1, 2024. Joseph A. 'Drew' Painter and Vaughan R. Dozier, Jr. will become Executive Vice Presidents as Co-Chief Commercial and Retail Banking Officers starting January 1, 2024. Michael C. 'Mike' Crapps remains President and CEO of First Community Corporation, focusing on governance and growth strategies.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:16 pm

WW

WeightWatchers (NASDAQ:WW) has launched a new GLP-1 Program designed to provide behavioral support for individuals on GLP-1 medications. The program, developed by a team of specialists, aims to help members build healthy habits and ensure adequate nutrition while on these medications. It includes daily nutritional and activity targets, a digital community, and access to Virtual Workshops and trained coaches. WeightWatchers Clinic, integrated within the WeightWatchers App, offers personalized support and medication management. The company plans to educate and promote the new offerings through various channels.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:13 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has announced progress on the Lago Vista property development. MNO Partners has deposited earnest money and begun preliminary work as per a contribution agreement. SG Devco's subsidiary acquired the property for $3.5 million in 2021 and will contribute it to a joint venture with MNO Partners, receiving a membership interest valued at $11.5 million. MNO Partners will lead the development and is expected to secure construction financing as a closing condition of the JV.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:11 pm

MULN

Mullen Automotive, Inc. has delivered its Class 3 EV low cab forward trucks, the Mullen THREE, to NRTC Automation Group in Birmingham, Alabama. The purchase order was announced on Aug. 28, 2023, with deliveries starting in Q4 2023. NRTC, which provides automation solutions for the automotive industry, will use the Mullen THREE in its vehicle fleet for shuttle runs in South Carolina. Mullen's commercial vehicle assembly is based in Tunica, Mississippi, and includes the Mullen ONE and Mullen THREE. The first deliveries of the Mullen THREE began on Sept. 28, 2023, to Randy Marion, which received its license to retail Mullen's commercial EVs on Nov. 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:11 pm

LPTV

OKO Digital, a leader in Digital Out of Home (DOOH), has announced a new partnership with Loop Media, expanding its roster of CTV/OTT and DOOH publisher partners. The partnership is expected to enhance OKO Digital's offerings in the digital advertising space.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:09 pm

ELIQ

Electriq Power Holdings, Inc. (ELIQ) anticipates 2024 revenue of $20M-$30M based on signed Power Purchase Agreements (PPAs) and commitments. The company has a $5M revenue backlog from over 160 PPAs signed via Sustainable Community Networks and a $10M commitment from developers to purchase Electriq's PowerPod 2 systems. Electriq has also expanded into Puerto Rico and Washington D.C., signed a partnership for homeowner PPA signups and installations, implemented cost reductions, and extinguished obligations through equity issuance. The company is focused on executing its 2024 plan and driving top-line growth and higher margins.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:08 pm

DELL

CoreWeave, a specialized cloud provider, has expanded its infrastructure by purchasing thousands of Dell PowerEdge servers to enhance its cloud platform for AI and machine learning workloads. The servers, equipped with NVIDIA H100 Tensor Core GPUs, will power CoreWeave's solutions for AI, ML, VFX rendering, and simulations. This collaboration with Dell Technologies aims to meet the growing demand for high-performance cloud solutions necessary for large-scale AI models. CoreWeave's modern cloud infrastructure, combined with Dell's powerful servers, will provide customers with rapid access to compute resources for compute-intensive tasks.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:04 pm

GE

GE Vernova, a segment of GE, has signed a framework agreement with Forestalia to install up to 693 MW of onshore wind turbines in Aragon, Spain. The agreement includes 110 GE 6.1-158 turbines across 16 sites, with the first phase of 33 turbines already in progress. This deal extends GE's wind energy presence in Spain and contributes to the country's energy transition and decarbonization efforts. Deliveries are scheduled to be completed by the end of 2024, and the partnership also includes GE's first European PPA signed in 2022.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 2:02 pm