MISSISSAUGA, Ontario–(BUSINESS WIRE)–Schneider Electric, the global leader in the digital transformation of energy management and automation, and ORPC, an internationally recognized leader in marine energy technology, innovation and operational excellence, have signed a memorandum of understanding to collaborate on microgrid projects to advance marine energy as a commercially-viable renewable energy source.

Through this collaboration, ORPC and Schneider Electric will install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers with ORPC’s RivGen Power Systems to provide communities worldwide with highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies.

“The ability to provide exciting, cutting-edge, sustainable solutions, like ORPC’s RivGen Power System, works as part of a portfolio of microgrid systems for our customers. It paves the way to establish marine energy as a commercially viable solution in the renewable energy mix,” said Bala Vinayagam, SVP Microgrid Line of Business from Schneider Electric. “The path to net zero includes many forms of decarbonization and having microgrid systems with ORPC’s technology only widens the impact on what our solutions can provide.”

Schneider Electric and ORPC are already working on implementing this solution in partnership with the remote, tribal community of Igiugig, Alaska. When this project is completed in the summer of 2023, the integrated system will form the grid for the community, moving the existing diesel generators to back-up and enabling the village to operate without diesel for between 60% and 90% of the time. In Igiugig, ORPC’s RivGen Power System has proven successful operating through three winters with temperatures going as low as -40 degrees C. As a result of environmental monitoring of the Igiugig project, comprising hundreds of hours of data, not a single injury or mortality to marine or aquatic life has been observed. Schneider Electric supplied Battery Energy Storage System (BESS) with EcoStruxure Microgrid Operation to enable use of River Gen system for diesel reduction. This is achieved by leveraging the Grid forming capability of the Schneider Electric BESS.

ORPC has already received inbound interest in its power systems from over 40 countries. Schneider’s global operations include offices in over 100 countries which will enable the two companies to build a global pipeline of projects.

‘’Nearly 1 billion people globally have no access to electricity and another 700 million rely on diesel-fueled off-grid systems. These communities pay up to 15 times more for electricity than grid-connected areas do, and deal daily with the noise, poor air quality and environmental risk resulting from diesel fuel use,” said ORPC CEO Stuart Davies. “We are so pleased to join forces with Schneider Electric, recognized as a leader for microgrid technology and sustainability (2022 Verdantix report) to better respond to the market inquiries we’ve been receiving and together provide baseload power solutions to these areas of the world with the greatest need.”

“The combination of ORPC’s RivGen Power System and Schneider Electric’s energy storage and smart microgrid controller can serve as a powerful tool to address climate change. For communities already using diesel generators, this system can provide a baseload energy solution and replacement for existing systems,” said Alexandre Paris, Senior Vice President & COO, ORPC. “Developing economies can build out their electricity networks economically without using expensive, centralized grids reliant on fossil fuels.”

“This partnership is an important step forward in our company’s journey to provide everyone, everywhere with access to clean, reliable electricity from sustainable sources such as marine renewable energy,” says Frederick Morency, VP Sustainability, Strategic Initiatives & Innovation, Schneider Electric. “The combination of Schneider Electric’s microgrid technology and ORPC’s power system solution offers an innovative path to bridge progress and sustainability – and empowers remote communities to help lead the energy transition and preserve the natural environment on which they have built their lives. I am proud of this collaboration and excited to see the new pathways we create together.”

About ORPC

Headquartered in the U.S., with subsidiaries in Canada, Ireland and Chile, ORPC is a recognized leader in marine energy technology innovation and operational excellence. A developer of clean, renewable power systems that harness energy from free-flowing rivers and tidal currents, ORPC’s rise to a leadership position in the worldwide marine energy industry is based on an impressive record of continuous improvement and success.

In 2021, ORPC was honored as “Innovator of the Year,” by the State of Maine’s International Trade Center and has a long track record of prestigious awards dating back more than a decade, including “World’s Top Ten Most Innovative Companies in Energy” by Fast Company (2013), and the National Hydropower Association’s Award for Operational Excellence in 2016 (ORPC is the first marine energy company to receive this award).

Read more about ORPC at www.orpc.co. Press images are available for download here and here. Video is here.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com/ca

Discover Life Is On
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Hashtags: #Microgrid #LifeIsOn #AccessToEnergy #SchneiderElectric

Contacts

Media Relations – Edelman on behalf of Schneider Electric, Juan Pablo Guerrero,

Phone: +1 416 875 7173, Email: juan.guerrero@edelman.com

The Daniels Corporation, DiamondCorp, Kilmer Group, together with the City of Toronto, help Habitat for Humanity families achieve the dream of homeownership

TORONTO–(BUSINESS WIRE)–Yesterday, The Daniels Corporation (“Daniels”), DiamondCorp, Kilmer Group, and Habitat for Humanity GTA (“Habitat GTA”), welcomed three Habitat families to their new homes in the Daniels FirstHome™ Keelesdale community. These three families received the keys to their new homes at Habitat GTA’s Home for the Holidays celebration.

Located in Toronto’s Keelesdale neighbourhood, Daniels FirstHome™ Keelesdale is a vibrant 12-acre master-planned community nestled in a lush ravine setting, surrounded by beautiful outdoor spaces, public parks, established walking and cycling trails and family-friendly amenities. From its inception, the vision for this community was to be dynamic, exemplifying a complete, transit-oriented community that is seamlessly integrated with its surrounding neighbourhoods and places accessibility and inclusivity at the forefront. The Daniels FirstHome™ program, a highly successful brand of communities located throughout the GTA, stands for creating more attainable homeownership opportunities through various programs and incentives.

“At a time of year when we gather around with our friends and loved ones, it is truly heartening to know this season will be an unforgettable one for these working families as they look forward to brighter futures and – for the first time – celebrate the holidays in their beautiful, new homes,” said Ene Underwood, CEO of Habitat for Humanity GTA. “We are proud to stand with Daniels, DiamondCorp and Kilmer Group and value their commitment to creating affordable homeownership opportunities in our communities. We look forward to working together to build more inclusive, resilient and equitable neighbourhoods where children and parents thrive.”

In 2020, DiamondCorp and Kilmer Group were awarded the Habitat for Humanity GTA’s inaugural “Developer for Humanity Award” and in 2022, Daniels was awarded the inaugural “Developer for Humanity Lifetime Achievement Award”. These awards are a testament to Daniels, DiamondCorp and Kilmer Group’s commitment to delivering affordable homeownership opportunities while demonstrating their commitments to the economic and social wellbeing of the communities they build. Welcoming three partner families to their new homes at Daniels FirstHome™ Keelesdale ahead of the holidays is an example of the magic that can happen when industry builders and developers partner with Habitat GTA to support its mission of helping families build strength, stability and self-reliance through affordable homeownership.

Through their long-standing partnership with Habitat for Humanity GTA and local affiliates, Daniels, DiamondCorp and Kilmer Group have helped empower families in need of a place to call home. Alyssa Keel, one of the participating Habitat partner families and proud new Daniels FirstHome™ Keelesdale homeowner stated, “Every Habitat family has a unique story, whether we are leaving unsafe, unhygienic, overcrowded, or unaffordable apartments – we have all struggled with trying to do the best we can for our children. As parents, we want to see our children thrive, become members of their community, make friends, be happy, and we want to ensure that our children are not impacted by our own financial stresses as they grow up – that they get to stay children as long as possible without worrying along with us. You have given us the opportunity to watch our kids ride their bikes down the street, join clubs, play sports, and be healthier, safer, and happier. Thank you for this incredible gift.”

Daniels FirstHome™ Keelesdale marks the 96th Habitat partner family that Daniels has helped support through their 26-year partnership with Habitat for Humanity and their affiliates. “For over two decades, Daniels has been a proud partner of Habitat for Humanity and has showcased the incredible power of collaboration. As responsible builders and developers, we play a vital role in strengthening the communities where we live and work,” said Niall Haggart, Partner and Executive Vice President at The Daniels Corporation. “Our partnership with DiamondCorp, Kilmer Group and Habitat GTA allows three deserving families to realize the dream of homeownership, which will in turn help establish security, safety, and stability in their lives. We look forward to our continued collaboration for many decades to come.”

“We are honoured and proud to be partnering with Habitat GTA, The Daniels Corporation and Kilmer Group to provide affordable housing to three families ahead of the holidays,” said Bob Blazevski, President and COO of DiamondCorp. “The Daniels FirstHome Keelesdale community is a testament to the positive impact industry partnerships lead to, and we look forward to continuing to build strong communities and brighter futures for families across the GTA.”

“Our partnership with Habitat for Humanity GTA, The Daniels Corporation and DiamondCorp has enabled us to help three Habitat families realize the strength and stability of affordable homeownership,” said Ken Tanenbaum, Vice Chairman of Kilmer Group. “This is an incredible example of what happens when the non-profit and private sectors band together to build inclusive, affordable and resilient communities.”

For more information about Daniels FirstHome™ Keelesdale, please visit www.keelesdale.com.

About The Daniels Corporation

The Daniels Corporation (www.danielshomes.ca) is one of Canada’s pre-eminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 38 years. Daniels is the developer of TIFF Bell Lightbox in Toronto’s Entertainment District and the City of the Arts community on Toronto’s East Waterfront. Among its many initiatives, Daniels partnered with Toronto Community Housing to revitalize 53 of the 69-acre Regent Park community in Toronto. At the core of the revitalization is both a physical and social re-connection of this once stigmatized neighbourhood to the broader City of Toronto. Today, Regent Park is the global hub of Sustainable Development Goals and home to the World Urban Pavilion – Powered by Daniels, a collaborative initiative between the Urban Economy Forum, UN-Habitat, Canada Mortgage and Housing Corporation and The Daniels Corporation. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond to integrate building excellence with opportunities for social, cultural, and economic well-being.

About DiamondCorp

DiamondCorp is a Toronto-based real estate development company that maintains a strong commitment to developing high-quality, innovative, and award-winning residential and mixed-use projects. The company has established itself as a leader in progressive city building in the GTA with a proven track record in achieving municipal approvals for complicated sites translating into the highest and best use. Working together with the local Councillor, City Staff, and community, DiamondCorp is able to achieve its land use goals, creating developments that are sensitive to the surrounding community. Since its founding in 2008, DiamondCorp has invested in 27 development projects across the GTA, totaling development density of over 21 million square feet, and acts as manager of the five Whitecastle New Urban Funds which represent approximately $1 Billion of committed equity. For more information, please visit us at www.diamondcorp.ca.

About Kilmer Group

Kilmer Group is a multi-generational platform for business development and investment which is focused on Canadian enterprise and infrastructure and is built on a heritage of excellence in operations, growth-oriented stewardship and trusting relationships. Based in Toronto, Kilmer Group focuses its investments in three verticals: Private Equity, Infrastructure & Real Estate, and Sports & ‎Media.

About Habitat for Humanity GTA

Habitat for Humanity GTA (www.habitatgta.ca) is a local organization with a global vision of a world where everyone has a safe and decent place to live. We mobilize communities to help working families build strength, stability and self-reliance through affordable homeownership. With the help of volunteers, donors, and community partners, we provide a solid foundation for better, healthier lives for families in the GTA. Since 1988, Habitat GTA has built 23 new communities, providing a hand-up to hundreds of families so parents and children can have a safe, decent and affordable place to call home.

Contacts

For more information or to request an interview, please contact:
Ema Asler

Kaiser & Partners

ema.asler@kaiserpartners.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, today announced that its board of directors has declared an updated estimated Net Asset Value (“NAV”) of $15.21 per share for its Class A and Class T shares, as of September 30, 2022. This was based on an appraisal that provided an estimated net asset value range of $14.15 to $16.38 per share, with a mid-point estimated value of $15.21 per share. SmartStop’s previous estimated NAV per share was $15.08 as of June 30, 2021.

“I am pleased to report that SmartStop’s estimated NAV per share has increased from our most recently declared NAV, despite recent economic volatility,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “The increase in SmartStop’s NAV is a testament to the power of the SmartStop® Self Storage operating team and platform, our team of acquisition professionals who helped build this portfolio, and our long-term income and growth strategy.”

On December 6, 2022, SmartStop’s board of directors approved the estimated per share NAV of $15.21 based on the estimated value of SmartStop’s assets less the estimated value of its liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of September 30, 2022.

Robert A. Stanger & Co., Inc. (“Stanger”), an independent third-party valuation firm, was engaged to provide valuation services of SmartStop’s assets and liabilities, including 156 wholly-owned properties and interests in six joint venture operating properties. Upon the nominating and corporate governance committee’s receipt and review of Stanger’s appraisal report and net asset value report, the committee determined that an estimated value per share range of $14.15 to $16.38 was reasonable and recommended to the board that it adopt the mid-point valuation of $15.21 per share, as the estimated value per share for SmartStop’s Class A shares and Class T shares.

SmartStop acquired its 156 wholly-owned assets for approximately $1.9 billion and invested approximately $77 million subsequent to purchase. The total estimated mid-point value of the properties was approximately $2.7 billion as of September 30, 2022, representing an approximate 37% increase in the total value over the aggregate purchase price.

The appraisals were performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), the real estate appraisal industry standards created by The Appraisal Institute, as well as the requirements of the jurisdiction where each real property is located.

The valuation was determined in compliance with the Institute for Portfolio Alternatives’ practice guideline regarding valuations of publicly registered non-listed REITs (“IPA guidelines”). Consistent with the IPA guidelines, the valuation does not include a portfolio premium that may reasonably be expected to accrue in a typical real estate valuation process conducted for transaction purposes, nor does it reflect an enterprise value.

For a full description of the methodology and assumptions used to determine the estimated per share NAV and the limitations of the estimated per share NAV, please see SmartStop’s Current Report on Form 8-K that was filed with the U.S. Securities and Exchange Commission on December 6, 2022.

About SmartStop Self Storage REIT, Inc. (SmartStop)

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 450 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of November 30, 2022, SmartStop has an owned or managed portfolio of 176 properties in 22 states and Ontario, Canada, comprising approximately 120,600 units and 13.7 million rentable square feet. SmartStop and its affiliates own or manage 20 operating self storage properties in the Greater Toronto Area, which total approximately 17,050 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today that its distribution declared for the month of November 2022 is $0.0300 per Trust unit, equal to $0.3600 per Trust unit on an annualized basis. As previously announced, the Board of Trustees decided to increase the amount of future distributions as a result of InterRent’s portfolio demonstrating strong sustainable results. The November distribution represents a 5.3% increase over the previous 2022 monthly distributions. Payment will be made on or about December 15, 2022, to unitholders of record on November 30, 2022.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

For further information, please contact:
Investor Relations

investorinfo@interrentreit.com
www.interrentreit.com

Team sees the Canadian economy slipping into a mild recession, contracting -0.5% for the year

TORONTO–(BUSINESS WIRE)–Russell Investments Canada Limited has released its 2023 Global Market Outlook, offering economic insights and market forecasts from the firm’s global team of investment strategists. Regarding the “Canada Outlook,” the team believes the Bank of Canada’s (BoC) very tight monetary policy will soon catch up to highly indebted households and potentially take the Canadian economy into a shallow recession. Meanwhile, a slowing global economy will drag on commodity prices and challenge Canadian exports.

“The good times of 2022 in terms of household spending and business investment may end in 2023, as the lagged effects of rate hikes are felt more intensely in the Canadian economy,” said Shailesh Kshatriya, director, investment strategies at Russell Investments. “However, as a mild recession gains momentum and inflationary pressures moderate, we believe the conditions should be in place toward the latter half of the year to allow the BoC to shift its policy stance towards interest rate cuts.”

The team also points out a couple of bright spots for investors amid talk of a recession: bond yields are more attractive, offering improved income, and government bonds may benefit from recession-driven risk-off sentiment.

In addition, the team remains positive on Canadian equities over the medium term due to better relative value and the potential for natural resource sectors to benefit from the energy transition.

Regarding the Canadian dollar, the team believes it will likely hover around 70-80 cents to the U.S. dollar as it searches for direction in an uncertain environment for commodities and the global economy.

The team assesses their investment decision-making building blocks of cycle, valuation, and sentiment as follows:

• Cycle: With recession as the team’s baseline assessment for the Canadian and U.S. economies, the business cycle outlook is negative. However, the team expects the cycle outlook will improve as BoC policy shifts from a restrictive hold to gradual easing, although in their view that may only occur in late 2023.
• Value: Traditional valuation measures such as price-to-earnings indicate decent value; however, the team is concerned about profit margins eroding as the economy slows. Therefore, the team rates value as neutral.
• Sentiment: Canadian equities have avoided a technical bear market in 2022, defined as a peak-to-trough pullback of at least 20%, and with domestic shares rebounding from the October lows, the team’s contrarian indicators are only modestly oversold. Overall, the team assesses sentiment as slightly positive.

“We are concerned about the business-cycle outlook,” Kshatriya said. “A more constructive view hinges on a policy pivot from the BoC, which may require patience. Therefore, while valuations are reasonable and the equity sentiment is not alarming, our cycle concerns are an overriding factor that keeps us neutral in an absolute sense and a possible pause to Canadian equities outperformance. Relative value, however, favors Canadian over U.S. equities over the medium term.”

Global market outlook

Globally, Russell Investments’ strategists believe a recession seems likely in 2023 and equity markets may struggle, but an economic recovery should be on the horizon by year-end.

“The main issue for 2023 is whether inflation pressures ease sufficiently to allow central banks to step away from rate hikes and potentially begin easing,” said Andrew Pease, global head of investment strategy at Russell Investments. “We expect inflation will be on a downward trend as global demand slows. This should allow central banks to eventually change direction and may set the scene for the next economic upswing.”

Russell Investments’ global asset-class views for 2023 include:

• Fixed income will make a comeback after experiencing the worst year of returns in 2022.
• Long-term bond yields should decline moderately as recession risk looms. The team’s target is 3.3% for the U.S. 10-year Treasury yield by the end of 2023.
• Equities have limited upside with recession risk on the horizon.
• The U.S. dollar could weaken late in 2023 as central banks start to unwind rate hikes and investors begin to focus on a global recovery.
• A weakening U.S. dollar could be the trigger for non-U.S. developed market equities to finally outperform U.S. stocks, given their more cyclical nature and relative valuation advantage over U.S. stocks. A weaker U.S. dollar could also be the trigger for emerging markets to outperform.

Looking toward 2023, the team offers the following asset-class preferences:

• Although non-U.S. developed equities are cheaper than U.S. equities, the team has a neutral preference until the Fed become less hawkish and the U.S. dollar weakens.
• Emerging market equities could recover if there is significant China stimulus, the Fed slows the pace of tightening, energy prices subside, and the U.S. dollar weakens. For now, the team believes a neutral stance is warranted.
• High yield and investment grade credit spreads are near their long-term averages, although the overall yield on U.S. high yield at near 8.5% is attractive. Spreads will come under upward pressure if U.S. recession probabilities increase and there are fears of rising defaults. The team has a neutral outlook on credit markets.
• Government bond valuations have improved after the rise in yields, and the team sees U.S., U.K., and German bonds as offering good value and Japanese government bonds offering fair value. “The risk of a further significant sell-off seems limited given inflation is close to peaking and markets have priced hawkish outlooks for most central banks,” Pease said.
• Real assets: Real-estate investment trusts (REITs) look attractively valued relative to global equities and listed infrastructure, and the team believes they should benefit from declining bond yields. The team sees the outlook for commodities as mixed, given the expected slowdown in the global economy.
• The U.S. dollar (USD) has made gains this year on Fed hawkishness and safe-haven appeal during the Russia/Ukraine conflict. The team believes USD could weaken if inflation begins to decline and the Fed pivots to a less hawkish stance in early 2023. The team believes the euro and Japanese yen would be the main beneficiaries.

For more details on the outlook, the team’s full report is available here.

About Russell Investments Canada Limited

Russell Investments Canada Limited is a wholly owned subsidiary of Russell Investments Group, Ltd. Established in 1985, Russell Investments Canada Limited has its head office in Toronto.

About Russell Investments

Russell Investments is a leading global investment solutions firm providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 86-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve the financial security of its clients. The firm has CA$376.9 billion in assets under management (as of 9/30/2022) for clients in 32 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 19 cities around the world, including in New York, London, Toronto, Tokyo, and Shanghai.

Contacts

Steve Claiborne, 206-505-1858, newsroom@russellinvestments.com

LONDON–(BUSINESS WIRE)–#CapitalStructure–H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with over $52 billion of equity capital under management, is pleased to announce that an affiliate has provided mezzanine financing to a German multifamily portfolio of 2,446 units concentrated in the North Rhine-Westphalia region.

Riccardo Dallolio, Managing Director and Head of H.I.G. Realty in Europe, commented: “We believe that the German residential market currently presents a good set of opportunities for our capital. Our sector specific knowledge coupled with our flexible approach to invest across the capital structure, has allowed us to become a capital partner of choice for high quality real estate operating platforms.”

Chris Zlatarev, Managing Director at H.I.G. Realty in Europe, added: “We are delighted to close another multifamily financing transaction in Germany enabling the implementation of substantial value add initiatives across the portfolio.”

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $52 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

Riccardo Dallolio

Managing Director

rdallolio@higrealty.com
P +44 (0) 207 318 5700

F +44 (0) 207 318 5749

www.higcapital.com

DENVER–(BUSINESS WIRE)–Summit Materials, Inc. (NYSE: SUM) (“Summit,” “Summit Materials,” “Summit Inc.” or the “Company”), a leading vertically integrated construction materials company, today announced that it has declared a special stock dividend of 0.017 shares of the Company’s Class A common stock, par value $0.01 per share (“Class A Common Stock”), for each outstanding share of Class A Common Stock. The special stock dividend is payable on December 29, 2022 to stockholders of record as of the close of business on December 15, 2022. Cash will be paid in lieu of issuing any fractional shares of Class A Common Stock.

As previously disclosed, the Company’s subsidiary Summit Materials Holdings L.P. (“Summit Holdings”) makes cash distributions to the holders of Summit Holding’s limited partnership units (“LP Units”) to cover tax obligations arising from any estimated net taxable income of Summit Holdings allocable to holders of LP Units. As an LP Unit holder, the Company has received such cash distributions from Summit Holdings in excess of the amount required to satisfy the Company’s estimated tax obligations. As a result, the Company is using the excess cash of approximately $59,500,000 in the aggregate to acquire newly-issued LP Units from Summit Holdings and to make cash payments in lieu of issuing any fractional shares in connection with the related special stock dividend described above. The stock dividend has been declared in order to maintain an equal number of shares of Class A Common Stock outstanding to the LP Units held by the Company, and the aggregate number of Class A Common Stock issued in the stock dividend will equal the number of additional LP Units the Company is purchasing from Summit Holdings. The LP Units will be purchased at a per unit price of $29.94, which is the volume weighted average price per share of the Class A Common Stock for the five trading days ended December 2, 2022. Cash payments in lieu of fractional shares will also be made on the basis of a value per share of Class A Common Stock of $29.94 per share.

Stockholders are not required to take any action in order to receive the stock dividend or cash in lieu of fractional shares, and the book entry accounts of the stockholders of record will automatically be credited with the additional shares representing the stock dividend. Stockholders will be paid for the value of any fractional shares that would have been received in lieu of any such fractional shares. Where shares are held in a brokerage account, the additional shares will be distributed to the broker on the stockholder’s behalf. The stock dividend is being administered by Broadridge Corporate Issuer Solutions, Inc., the Company’s transfer agent.

The declaration, amount and payment of any future dividends on shares of Class A Common Stock will be at the sole discretion of Summit’s board of directors and the amount and timing of any future dividends cannot be predicted at this time.

About Summit Materials

Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets. For more information about Summit Materials, please visit www.summit-materials.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements because they contain words such as “believes, ” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “trends,” “plans,” “estimates,” “projects” or “anticipates” or similar expressions that concern our strategy, plans, expectations or intentions. These forward-looking statements are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements to be different from future results, performance or achievements expressed or implied by such forward-looking statements. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, it is very difficult to predict the effect of known factors, and, of course, it is impossible to anticipate all factors that could affect our actual results.

In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be realized. Important factors could affect our results and could cause results to differ materially from those expressed in our forward-looking statements, including but not limited to the factors discussed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended January 1, 2022. Such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

Contacts

Andy Larkin

Vice President, Investor Relations

Andy.Larkin@summit-materials.com
720-618-6013

The funds will be used to transform the Jewish Community Centre into an expanded, state-of-the-art space, including expanded childcare, senior services and amenities for all Vancouverites.

VANCOUVER, British Columbia–(BUSINESS WIRE)–Today, the Jewish Community Centre of Greater Vancouver (JCC) is pleased to announce that it has received $25 million in support from the Government of Canada through the Department of Canadian Heritage. The funding will be used for the redevelopment of the 3.3-acre property at West 41st and Oak Street in Vancouver, BC. It will support the transformation of the JCC into a state-of-the-art, multigenerational community hub in the Oakridge area with more childcare spaces, expanded seniors programs, arts and cultural spaces, and an expanded Vancouver Holocaust Education Centre to enhance the lives of Lower Mainland residents. The project will be built to high environmental design standards.

“The Government of Canada stands with Jewish communities across Canada and around the world. Today’s investment is part of our commitment to an inclusive Canada that is strong and proud of its diversity. Supporting cultural facilities is essential, not only to retain their viability today, but to help them flourish for generations to come,” said the Honourable Pablo Rodriguez, Minister of Canadian Heritage. “We are proud that our support for the Jewish Community Centre of Greater Vancouver will strengthen Holocaust education, improve accessibility to arts and heritage, and combat antisemitism.”

“The Jewish Community Centre of Greater Vancouver is now another step closer to building a larger community hub where Vancouverites of all backgrounds can connect through shared experiences, while allowing the Centre to continue providing services and supports that enrich quality of life in our city,” said the Honourable Harjit S. Sajjan, Minister of International Development, Minister responsible for the Pacific Economic Development Agency of Canada and Member of Parliament (Vancouver South).

“This important investment creates an essential space to celebrate and preserve the culture of Jewish Canadian communities. We reiterate our commitment to building a safer, more diverse and inclusive Canada,” said the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion. “I am pleased that this funding will help support a lasting cultural legacy for Metro Vancouver and beyond.”

“The Jewish Community Centre has long been a cultural anchor in Vancouver. With growth and development expected to continue along the Oakridge corridor, now is the time to build a solid foundation from which the JCC can expand its reach and plan for tomorrow,” said Taleeb Noormohamed, Member of Parliament (Vancouver Granville). “The funding announced today is not only an investment in bricks and mortar, but in ensuring a continued legacy of community support and service.

The redevelopment of the JCC is the cornerstone of the overall site redevelopment plan which will also provide permanent homes for more than 20 not-for-profit community organizations, two residential towers that will provide mixed-use rental housing, a portion of which to be below-market rates.

The Jewish Community Centre, Jewish Federation of Greater Vancouver, and King David High School have signed a memorandum of understanding that will see them work together to fulfill a shared vision rooted in extensive community and public consultation.

“The funding from the Government of Canada through the Department of Canadian Heritage contributes the resources necessary to support and sustain the Jewish community in Vancouver. The redevelopment will create an invaluable and welcoming cultural, social, recreational and educational hub for all to enjoy,” said Eldad Goldfarb, Executive Director, Jewish Community Centre of Greater Vancouver. “The new space is poised to be a connection point that people of all ages and from all walks of life can enjoy for generations to come, and the legacy of this redevelopment will last a lifetime.”

The preservation of distinct cultural communities is an essential thread in the fabric of Canada. The JCC is one of the most diverse community centres in the region. It is also one of the highest attended cultural, community and recreational centres in Vancouver.

Today’s announcement builds on the $25 million funding provided in 2021 by the B.C. government and a $25 million gift and community match from the Diamond Foundation.

For more information on this announcement, please contact Stuart Martin – stuart@talkshopmedia.com

Contacts

Stuart Martin

Talk Shop Media

stuart@talkshopmedia.com

• Sonja Winkelmann, Senior Director for Net Zero Energy Housing at the Canadian Home Builders’ Association (CHBA), shares her tips on how to build an energy efficient home

MISSISSAUGA, Ontario–(BUSINESS WIRE)–There are many reasons why you should build the most energy efficient home you can. For one, it shows that you are a progressive builder who is keen to work with the latest technology and information available to you. Homeowners appreciate the consistent comfort throughout their house and the long-term savings on their energy bills. Overall, building energy efficient homes has the dual benefit of conserving energy and helping Canada meet its collective climate change goals.

Energy Efficient Homes

The most energy efficient homes built in Canada today are Net Zero homes. That means that the building generates at least as much energy as it consumes over the course of the year. Net Zero Homes are built so efficiently that they consume up to 80 percent less energy when compared to a home built to the current Model National Building Code, and a renewable energy system provides the remaining energy needed.

To achieve energy efficient homes, builders need to focus on two areas: the building envelope and the mechanical systems. If Net Zero is the goal, you’ll also need a renewable energy system.

Whichever energy efficiency program you’re following (Net Zero, LEED, Energy Star, R-2000, Built Green, Passive House, etc.), there are a number of key materials you can use to achieve your goals including:

• Exterior house wrap sealed at the seams
• Insulation that exceeds current building code requirements
• Interior sealed vapour barrier
• Double- or triple-paned windows
• Thermal exterior doors
• Energy efficient lighting such as Square D switches and receptacles
• Energy Star-rated appliances
• A home energy monitoring system such as Wiser Energy
• “Right sized” and energy efficient HVAC equipment
• Solar panels and battery storage

Sustainable Building

Whatever rating program you’re following, the basic components are the same.

“An airtight building envelope with higher levels of insulation and high-performance windows will make a home more energy efficient,” says Winkelmann. Not only do these measures help keep the heat in during the colder months – meaning less energy is used for heating, in the warmer months they help keep the heat out, reducing the need for air conditioning.

The materials used to make a home airtight include external house wraps that are sealed at all the seams, insulation that exceeds current building code requirements, a sealed interior vapour barrier, and efficient windows and exterior doors. Depending on which region of the country you’re building in you’ll want to use double- or triple-paned windows.

Next is the building’s mechanical systems, including the HVAC system and water heating. With the building envelop properly sealed and insulated, “the mechanical systems can be ‘right sized’ to each home, so they perform better,” says Winkelmann. Combined, the sealed envelope and right sized and energy efficient HVAC systems improve comfort throughout the house.

Winkelmann also points out that the CHBA’s Net Zero program is “performance based rather than prescriptive” giving builders the ability to customize the design and construction of each home. This means builders have a variety of options and components at their disposal to achieve their goals in the most cost-effective way.

Appliances, lights, and other electronics in the home should also be Energy Star-rated models. LED lights, smart bulbs, smart switches, and dimmers all help reduce the amount of energy used for illumination.

An essential piece of equipment is a home energy monitoring system, such as Wiser Energy. This tool measures precisely how much energy a home is using, and helps owners identify ways they can reduce their energy usage. As the builder, you’ll need to help educate your client on how to minimize the amount of energy they consume and make any necessary adjustments based on the feedback their home energy monitoring system provides.

Finally, a Net Zero home has a renewable energy system – typically, incorporating solar panels mounted on the roof. Where possible, orient the roof to capture south- or west-facing views to maximize the system’s peak load. If your client isn’t ready to commit to a fully Net Zero home, you can install the required rough-ins for potential installation down the road.

How Schneider Electric Can Help

In addition to the Wiser Energy Smart Home Monitor, Schneider Electric has a number of products that can help improve the energy efficiency of a home.

Dimmers are a simple way to provide energy savings by offering full illumination when needed and subtle lighting for a more ambient feel. Schneider Electric also has a full line of stylish Square D™ X Series Z-Wave and Wi-Fi-enabled switches that put even more control and monitoring capabilities into the hands of homeowners.

With voice commands or control via the app, owners can remotely operate appliances and fixtures, create custom lighting scenes, monitor energy use at the plug level, and much more.

Space-saving features include single switches that can control a fan switch, humidity sensor, and occupancy sensor all in one.

When choosing outlets and switches, look for the Green Premium label, Schneider Electric’s best-in-class environmental performance products.

Homeowner Education

“A home will only run as efficiently as the owners operate and maintain it,” points out Winkelmann. That’s why homeowner education must be part of the handover process for your clients. Start by reiterating all the measures you took to make their home as energy efficient as possible. Then make sure they understand how to use their Wiser Energy Home Energy Monitor and offer advice on how they can adjust their lifestyle to reduce their energy consumption.

Whether it’s a desire to do your part to help reduce the impacts of climate change, energy independence or long-term financial savings, there are number of reasons why you should be building energy efficient homes for your clients.

Schneider Electric’s Wiser Energy Home Energy Monitors, along with their Wi-Fi-enabled and Green Premium products will help you achieve you and your clients’ energy efficiency goals.

Tags: energy efficient housing, Green Premium products, Home Energy Monitor, Net-Zero Homes, smart homes, Sustainable Homes, Wiser Energy

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com/ca

Discover Life Is On
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Contacts

Media Relations – Edelman on behalf of Schneider Electric, Juan Pablo Guerrero

Phone: +1 416 875 7173, Email: juan.guerrero@edelman.com

Redfin is the first real estate site to provide users with a detailed view of local zoning guidelines for almost every home in the U.S. and Canada

SEATTLE–(BUSINESS WIRE)–(NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, today added zoning and land use information to more than 70 million home description pages on its website. Powered by a partnership with Zoneomics, Redfin is the first real estate site to provide users with a detailed view that educates them on the implications of their local zoning guidelines for almost any home in the U.S. and Canada.

Zoning laws are critical for consumers to understand because they regulate how properties can and cannot be used. In addition to determining what property types and density are allowed in a neighborhood, land use laws dictate whether property owners can do things like build an accessory dwelling unit (ADU) in their backyard, run a business out of their garage, have farm animals, or list their home as a vacation rental. These laws and regulations can be difficult for buyers to discern during the homebuying process since relevant information is often buried on government websites or in complex local zoning codes.

“Zoning is a defining characteristic of real estate in North America. It impacts everyone, and you shouldn’t need special research skills to find the information you need,” said Christian Taubman, Redfin’s chief growth officer. “Redfin users ask us every day whether a property can be rented out on Airbnb or whether building another living unit in the backyard is allowed, and now they can find answers directly on our home detail pages. We’re proud to be the first real estate website to make that information clear and easily accessible to consumers.”

Redfin detail pages for both for-sale and off-market homes now display a zoning summary for the property, including the zone code, name, type and description. Eligible properties also include a list of permitted, conditional and accessory land uses. Consumers who are interested in more comprehensive information have the option to purchase a variety of zoning reports from Zoneomics. The feature is available on Redfin.com for homes in nearly 3,900 cities across the U.S. and Canada. The company plans to launch the feature on iOS next week and Android next year.

“Zoning data has a unique and crucial position in the U.S. and Canada, where it is essential but also needlessly gate kept from the homebuyer,” said Matthew Player, Zoneomics’ chief executive officer. “This partnership with Redfin is exciting because it will help us provide important data and zoning reports to consumers without any hassle, effectively democratizing access to zoning data across North America.”

Adding zoning data is the most recent step toward Redfin’s goal of providing the most complete and relevant home information to consumers. This year, Redfin also added information about climate risk, school ratings, neighborhood amenities, public transit, internet service and speed, and down payment assistance programs to home detail pages.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country’s #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we’ve saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here.

Redfin-F

About Zoneomics

Zoneomics is a real estate intelligence platform powered by AI and machine learning that collects and puts crucial zoning data, land-use data and analysis into the hands of users at the click of a button. Built by experienced real estate professionals and technology experts, they understand the challenges faced by modern users when seeking this information for important decision-making. The Zoneomics platform extracts and standardizes the latest zoning data from thousands of sources around the clock and then delivers insights in multiple popular formats including a map-enabled web platform, a variety of zoning reports, zoning data APIs and bulk data. Visit www.zoneomics.com for more information.

Contacts

Contact Redfin
Redfin Journalist Services:
Erin Osgood, 206-588-6863

press@redfin.com

Millions of North American homeowners and businesses rely on Venstar technology for advanced comfort control and energy management

WALLER, Texas–(BUSINESS WIRE)–#HVAC–Daikin Comfort Technologies North America, Inc. (Daikin) has acquired Venstar, Inc. (Venstar), a prominent controls and energy management systems provider whose technology and indoor comfort solutions are used in millions of residences and light commercial applications across the United States, Canada and Mexico.

The acquisition, announced today by Daikin – a subsidiary of Daikin Industries, Ltd. (DIL), the largest manufacturer of HVAC systems worldwide – complements the growing market for Daikin’s environmentally friendly indoor comfort technologies, including its high-performing inverter and heat pump solutions, and products featuring R-32, an open-source refrigerant with one-third the Global Warming Potential (GWP) of the most commonly used refrigerants in the U.S. and Canada.

Venstar, founded in 1992 and based in Southern California, designs and builds a broad variety of innovative thermostats with more than 10 million installed. The company’s Surveyor® Energy Management System allows retailers, restaurant chains and other multi-location businesses to remotely monitor, manage and control energy consumption while reducing maintenance expenses. Currently, Surveyor is used to control more than 100,000 HVAC systems and building lighting in more than 30,000 retail locations throughout North America. Venstar’s Skyport Cloud service provides businesses a secure and private powerful cloud service for command and control of HVAC systems from anywhere in the world.

Under the new ownership as a wholly owned business unit of Daikin Comfort Technologies North America, Inc., Venstar will continue to be led by Venstar’s existing management team with Steve Dushane, founder, president and CEO, as well as all current employees of Venstar. Venstar’s headquarters will remain in California and Daikin plans to maintain the strong recognition of the Venstar brand, along with maintaining all of Venstar’s successfully branded products.

“Venstar’s advanced smart thermostats, controls technology and outstanding energy management systems will help support Daikin’s leadership role in connected solutions, ensuring safe, environmentally friendly, peak performance operations of HVAC systems through cloud-connected monitoring and control,” said Takayuki Inoue, Executive Vice President and Chief Sales and Marketing Officer for Daikin. “We are committed to facilitating North America wide adoption of energy-efficient inverter, heat pump and R-32-based systems. These Daikin systems provide superior environmental benefits, energy savings and indoor comfort performance over traditional HVAC systems that currently cool and heat most North American homes and businesses.”

Steve Dushane, founder, president and CEO of Venstar, said “We are excited to join a company with a strong commitment to innovating indoor comfort and cultivating environmental sustainability. Daikin products are known for their technology leadership, energy efficiency, robust quality and high performance, all hallmarks of Venstar’s products and services that will further enhance our brand portfolio.”

“Venstar’s energy management expertise and smart, communicating controllers will help contractors, homeowners and businesses optimize the energy-saving and performance benefits of inverter-driven HVAC systems,” explained Dennis Thoren, Vice President of Controls and Solutions at Daikin.

“Smart thermostat and cloud service solutions represent the future of indoor comfort beyond controlling temperature and ventilation,” said Thoren. “Monitoring and controlling performance, indoor air quality, predictive maintenance, and optimizing service truck logistics are just a few of the benefits that innovative thermostats and cloud-based services can provide contractors and customers. It’s an effective, easy way to manage energy consumption remotely, even eventually collaborating with electric utilities to improve demand response. These are powerful benefits that provide value to utilities, contractors and customers.”

“For example, Venstar’s Surveyor typically saves small-box retailers 20 to 35 percent of their controlled energy costs,” said Dushane. “This translates to tens of millions of dollars in savings each year and dramatic reductions in CO2 emissions,” he explained.

The acquisition is one of several Daikin has completed during the past few years as it works to transform the North American HVAC industry. The $500 million Daikin Texas Technology Park (DTTP), located just northwest of Houston, now employs more than 7,000 people. At over 4 million square feet, DTTP is one of the largest manufacturing facilities in the world; 74 football fields can fit under its roof.

For more about Daikin Comfort Technologies, visit northamerica-daikin.com.

About Daikin

Daikin Industries, Ltd. (DIL) is a Fortune 1,000 company with more than 84,870 employees worldwide and is the world’s #1 indoor comfort solutions provider company. Daikin Comfort Technologies North America (DNA), Inc is a subsidiary of DIL, providing Daikin, Goodman, Amana^® and Quietflex brands products. DNA and its affiliates manufacture heating and cooling systems for residential, commercial and industrial use and are sold via independent HVAC contractors. DNA engineering and manufacturing is located at Daikin Texas Technology Park near Houston, Texas. For additional information, visit www.northamerica-daikin.com.

About Venstar Inc.

Venstar Inc. is a leading thermostat and energy management system (EMS) manufacturer, known for providing value to its customers via ease of use and installation, proven cost savings, improved energy efficiency, quality and reliability. Founded in 1992, Venstar is one of the largest thermostat suppliers in the world and designs and produces Venstar-branded products, as well as OEM thermostat products for the biggest names in HVAC. Venstar’s Surveyor is a leading energy management system, typically saving small-box retailers 20 to 35 percent of controlled energy costs, which translates to tens of millions of dollars in savings each year and dramatic reductions in CO2 emissions. Surveyor currently controls the energy usage of 30,000+ retail locations across the United States, Canada, Puerto Rico and Mexico. For more information, visit www.venstar.com.

Contacts

Marc Bellanger – Director of Marketing & Communications – 713.263.5505

Wendy Hall – Director of Communications – 713.232.9229

Whip Around developed the Whip Around Wallet to improve compliance and ensure their drivers are road ready at all times.

CHARLOTTE, N.C.–(BUSINESS WIRE)–Whip Around launches new document management solution for Fleet Managers and Drivers, a move designed to improve compliance and ensure their drivers are road ready at all times.

Poorly managed or missing documentation consistently features in the top roadside enforcement violations each year with in-cab documents relating to the driver and asset prone to damage, expiration or misplacement. Companies are liable for the actions of their employees, and can be held accountable if a non-compliant driver is operating an asset or unable to produce the required paperwork during a roadside check. With so much paperwork involved, it’s a challenge for drivers to store and manage it easily on the go, often putting themselves under the risk of scrutiny.

Steve Keppler from Scopelitis Transportation Consulting emphasized the growing issue of paper-based record keeping and FMCSA compliance, “Fleets that use paper-based recordkeeping tend to have more challenges recording data, maintaining records, missing important deadlines, locating proper records on request, and easily identifying compliance gaps in documents and dates. Using an electronic system addresses all of these weaknesses. It helps carriers be proactive to keep them compliant and identify issues early on before they become a problem.”

Whip Around Wallet is available on web and mobile. Documents are safely stored in the cloud and they can be tagged, making it quick and easy for drivers to access all the documentation that they need while out on the road. Accessibility is critical to document management, but the real value of Wallet lies in the ability to set expiration dates, renewal notifications and retention sunset reminders on documents. This dramatically lowers the risk of not meeting compliance requirements and the cost that goes along with it.

“It definitely helps our drivers remain compliant. It’s really easy to use, and made us a lot more organised. We can check that we’ve got all the required paperwork, and if we’re missing something from one truck we can grab it ” – Ryan Weinstein from M&M Waste.

A range of documentation can be stored in Wallet so that it’s easily accessible during a roadside check or audit.

Some of these include:

• Vehicle permits and cab cards
• Carrier insurance policies
• Driver medical certificates
• Evidence of periodic inspections
• Period inspector credentials
• ELD documentation
• Trailer documents

“With Whip Around Wallet Fleet Managers can have peace of mind that they have set their team’s up for success. It’s another step towards Whip Around’s promise to help customers take control of their fleet maintenance processes, improve safety and compliance, and reduce costs and downtime” – Elizabeth Santorelly VP Product, Whip Around.

To learn more about the Whip Around Wallet, email sales@whiparound.com or call 704 489 3268. Existing customers should contact their Account Manager or email support@whiparound.com for further details.

About Whip Around

Whip Around is a powerful, yet easy-to-use fleet maintenance software solution that connects drivers, mechanics and fleet operators to improve the uptime across their fleet operations. Whip Around operates in North America and Australasia and serves hundreds of thousands of users and assets worldwide across all commercial fleet industry verticals. The company’s mission is to keep the world’s fleets moving by accelerating information.

Contacts

Lauren Yeoman

704.412.3986

Lauren.yeoman@whiparound.com