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WEG of Brazil announces joint venture with Cevital of Algeria

WEG announced on Monday 18 that it had signed mandatory documents with the Cevital Group of Algeria for the production and sale of electric mo

WEG announced on Monday 18 that it had signed mandatory documents with the Cevital Group of Algeria for the production and sale of electric motors for washing machines. This joint venture will initially focus on the North African market, including Algeria. Production is expected to begin in the last quarter of 2022. WEG has industrial operations in 12 countries and a commercial presence in 135 countries, with net sales of BRL 23.5 billion last year. Algeria Group was founded in 1971 and operates through subsidiaries in agriculture, retail, services, and industry. Read More..

B2B Tech News | 2 years ago        

Canada’s Suncor gas station is open for sale following an agreement with an activist investor

Three new independent directors have been added to Suncor Energys board, and the company is considering selling its retail gas station operation. Thes

Three new independent directors have been added to Suncor Energys board, and the company is considering selling its retail gas station operation. These actions come in response to activist investor Elliott Investment Managements pressure. Suncor owns PetroCanada, a chain of 1,800 retail and wholesale gas stations spread across Canada. According to a source, activist investor Elliott has largely succeeded in its goals. Suncors retail division may be up for sale, and potential buyers include CoucheTard and 7Eleven. According to analysts, the retail unit may be worth between C$5 billion $3.86 billion and C$8 billion. Read More..

B2B Tech News | 2 years ago        

Germanys largest gas importer has exceeded its credit limit

Uniper, one of Germanys largest energy suppliers, has benefited from the German stateowned banks € 2 billion credit line. The company has been losin

Uniper, one of Germanys largest energy suppliers, has benefited from the German stateowned banks € 2 billion credit line. The company has been losing tens of millions of euros every day since Russia stopped supplying gas to Germany last month. Nord Stream 1, which connects Germany and Russia, is closed for annual maintenance. The Russian state gas giant Uniper, based in Düsseldorf, acted as an intermediary between Gazprom and its German factories and municipalities and had to compensate for the shortage of fuel in Russia by providing alternative fuels at much higher prices. Repairs to the Nord Stream 1 line are scheduled for Thursday, although experts have already done so. Read More..

B2B Tech News | 2 years ago        

N2Growth is expanding its operations in Asia and opening a representative office in South Korea

N2Growth opens a location in South Korea as part of its expansion into Asia. A financial services executive is appointed by the company to lead the Se

N2Growth opens a location in South Korea as part of its expansion into Asia. A financial services executive is appointed by the company to lead the Seoul office as a managing partner. Gene W. Oh is the companys managing partner and country head and reports directly to Kelli Vukelic, the CEO. The establishment of a new office in Seoul broadens N2Growths geographic reach and talent pool in Asia. The company established a location in Singapore in 2021 with the goal of serving customers in Southeast Asia. Gene Oh is the American Chamber of Commerce Koreas executive director AMCHAM. Read More..

B2B Tech News | 2 years ago        

Infinity Egypt has become the largest renewable energy company in Africa

Egypts Infinity Group will become Africas largest renewable energy company when it acquires Lekela Power. The proposed acquisition includes a 1gigawat

Egypts Infinity Group will become Africas largest renewable energy company when it acquires Lekela Power. The proposed acquisition includes a 1gigawatt portfolio of operational wind power projects in Egypt, Senegal, and South Africa. Installed renewable energy capacity in Africa is expected to grow from over 54 gigawatts in 2020 to over 530 gigawatts by 2040. Infinity, which provides solar, wind, and wastetoenergy power solutions for homes, companies, and cities across Egypt, is to be bought by Actis Energy Infrastructure from South African firm Lekela. Actis and Mainstream Energy Infrastructure have invested in more than 70 renewable energy projects to date, generating approximately 11 gigawatts of renewable energy globally. The two companies aim to double the capacity of their joint operating assets over the next four years, which stands at 1.4 gigawatts after the acquisition of Lekelas 624MW wind farm in South Africa. Read More..

B2B Tech News | 2 years ago        

The Canadian government is investing more than $ 8.7 million to help farmers adopt clean technologies to reduce greenhouse gas emissions

The 28 new projects under the Agricultural Clean Technologies ACT programme were announced by Minister of Agriculture and Food MarieClaude Bibeau. The

The 28 new projects under the Agricultural Clean Technologies ACT programme were announced by Minister of Agriculture and Food MarieClaude Bibeau. The adoption of clean technologies in Canada will be helped by this $8.7 million initiative. Three main areas will be the focus of the fund. bioeconomic solutions, practical agriculture, green energy, and energy efficiency. Changes in fuel and lower fuel usage are anticipated to result in a 0.8 megaton reduction in current pollution levels. Read More..

B2B Tech News | 2 years ago        

The EU wants to block Switzerland

Europeans move their assets to Switzerland for a variety of reasons, including high inflation in the EU region and geopolitical unpredictability. Swit

Europeans move their assets to Switzerland for a variety of reasons, including high inflation in the EU region and geopolitical unpredictability. Switzerlands banks are prohibited from actively seeking out customers in Europe unless they have a branch there. Germany has made a special exception, granting a socalled exemption to banks from third countries, including Switzerland. Many organizations, including private banks and independent wealth managers, do not find it economically feasible to open a second location in Italy or France. In favor of their banks, the EU nations that have taken this protectionist stance If a similar procedure is implemented in other nations, it would be a harsh judgment for many Swiss private companies if Switzerland only plays a secondary role in the French market Read More..

B2B Tech News | 2 years ago        

PTC India has partnered with 5 technology companies

PTC India has contracts in place with 5 tech firms. Memorandums of Understanding MoUs have been signed with Hexagon, Greenstar, AutoGrid, and Chemtrai

PTC India has contracts in place with 5 tech firms. Memorandums of Understanding MoUs have been signed with Hexagon, Greenstar, AutoGrid, and Chemtrails, among others. PTC and the Norwegian company Greenstat are collaborating to create green hydrogen projects in India. PTC is evolving into an energy solutions provider, providing technologybased services and products to market players in new markets like green hydrogen. According to the company, in the partnership with AutoGrid, PTC will offer solutions for demandside management for distribution utilities potential opportunities in the implementation of virtual power plants in India technical solutions for supplying and procuring 24/7 power from renewable energy sources and other solutions in related segments. Read More..

B2B Tech News | 2 years ago        



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