- H2X to supply the first of its hydrogen buses into Sweden to the Trelleborg Municipality through Trelleborg Energi.
- The new hydrogen fuel cell bus and waste truck is the next step for Trelleborg municipality and Trelleborg Energi on the journey to reduce the municipality’s carbon footprint.
- The hydrogen bus and waste truck will be the first of 10 to join fleet in the Trelleborg Municipality’s first steps to reach zero emission by 2045.
- This MOU is in line with Trelleborg Energi’s aim to introduce hydrogen solutions in Trelleborg, as part of the company’s development of local, sustainable energy solutions.
H2X & Trelleborg Municipality, has signed a memorandum of understanding (MOU) to develop the City’s first ever hydrogen high floor buses and a waste truck in collaboration with local energy company Trelleborg Energi, marking another major step towards making the municipal fleet zero-emission and cleaning up the city & outer regions air.
The new environmentally friendly bus will be the first of the proposed high floor buses and the first from H2X Global in Europe. The new buses will have both hydrogen fuel cells and super capacitors for the use as a school bus across the city and outer regions.
The non-binding MOU between H2X and the Trelleborg Municipality creates additional jobs in Sweden as the production of commercial vehicles for Trelleborg will come from H2X’s European HQ based in Sweden where the full production and Service is located increasing further volume to the recent awarded MoU with the City of Gothenburg.
Head of Northern Europe – Peter Westh said:
“H2X is paving the way for commercial vehicles across the Nordics and are especially pleased to have signed the MOU with Trelleborg Municipality in the form of a Joint Initiative for Hydrogen Buses for the school program. This on the back of our recent agreement with Gothenburg. This is a further step to connect our Zero emission powered vehicles along the European Hydrogen corridor.”
Magnus Sahlin CEO for Trelleborg Energi said:
“This memorandum marks another leap forward in the zero carbon ambitions for the municipality. We want to show that sustainable energy and mobility solutions are not about the future, but about making changes today. The first hydrogen bus and waste truck prove how we take concrete steps towards zero emission transports in the region. With the first fueling station up and running in Trelleborg in January 2023, these initiatives are an amazing start in transforming the vehicle sector in this region.”
Stina Salomonsson, head of Education Administration, Trelleborg Municipality said:
“For us locally, it is natural to take part in the transformation of the Swedish vehicle sector in order to reach the national goal of zero emission to 2045. Our new hydrogen vehicles are a part of this venture.”
CEO & Founder of H2X Global Brendan Norman said:
“We are pleased that Trelleborg and Gothenburg have entered partnership with H2X where we both work together in delivering not only the vehicles tailored for their needs but the total solution for their vehicle management. He added: “Sweden has one of the most progressive Hydrogen strategies, projects and activities in Europe, but we need to continue to act now to tackle climate change to improve our cities air quality. Introducing hydrogen buses and commercial vehicles to authorities’ fleet, by using the right technology for the varying operational requirements will help us all breathe cleaner air.”
H2X is an Australian based, global automotive and power unit company focused on absolute sustainability. The company is focused on harnessing the most efficient and effective technologies, with the onus on capturing free and renewable energy sources. A specialisation in hydrogen is the basis of H2X’s growth, however with a strong platform as a maker of electrically powered professional hydrogen vehicles, the company has a versatile approach to finding the right vehicle for the right task. H2X Global has operations in Australia, Malaysia, India, and Europe.
About Trelleborgs Energi
Trelleborgs Energi is a modern energy company with the future in mind. All our work evolves around sustainable and innovative solutions, connected to the local community. We aim to turn our customers into climate heroes, make our owners proud, and establish Trelleborg as the most climate smart city in Sweden.
Cash Management Company Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
Cash management company announces roadmap to build cutting-edge multichain treasury infrastructure for Web3
SHERIDAN, Wyo., May 17, 2022 — Coinshift, a leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, today announced its $15 million series A funding round and its roadmap for building a novel full-service treasury management solution in the industry.
The series A funding round is led by Tiger Global and joined by Sequoia Capital India, Ryan Hoover (Founder of Product Hunt and the Weekend Fund), Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech.
Coinshift has undergone rapid growth since its launch in June 2021, managing more than 1000 safes, $1.3 billion in assets and $80 million in payouts for organizations like Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol, Balancer and many others.
Coinshift Founder and Chief Executive Officer Tarun Gupta, commented, “Today, a new chapter of the Coinshift journey begins. We are unveiling a glimpse into our platform’s second version, through which we share our vision to build the most sophisticated multichain treasury infrastructure for Web3. The fact our investors have returned to participate in a series A funding round is a testimony to the quality of our platform and the timely solution we offer to fill the current needs in the market.”
Coinshift’s version 2 was built and designed in close collaboration with the industry’s leading Decentralized Autonomous Organizations (DAOs). Our version 2 will allow users to manage multiple Gnosis Safes for multiple chains under one organization to enable significant time saving and achieve transparency in treasury operations. The major architectural change between Coinshift version 1 and Coinshift version 2 is that users can add multiple safes to a single organization across multiple chains, whereas in version 1, one safe address was tied to one organization, in Coinshift’s feature-rich version 2 architecture, treasury managers and sub-DAO committees will be able to efficiently consolidate all their safes across networks and seamlessly visualize overall treasury balances. In addition, users will have global access to payees, labels, budgets, reporting and advanced access level control between safes.
“With Coinshift’s version 1, our team has done an incredible job of building a sophisticated mass payouts platform. With our version 2, we are taking a massive leap forward to enable DAOs of any size, to manage their treasury. But we’re just getting started, and we are excited for the opportunity that lies ahead as we work toward building the most sophisticated next-generation cryptocurrency treasury management platform.”
Tiger Global: “We’ve been impressed by the pace of product development at Coinshift since we met Tarun and the team. It’s clear there is a huge need for crypto native treasury management and payments, and we are excited to back Coinshift as they roll out the next iteration of the platform,” said Alex Cook, Partner, Tiger Global.
“Tarun and the team are building heads down at Coinshift. They have made wonderful progress since Sequoia Capital India participated in their seed funding last year. This round will enable them to build a wider set of offerings for treasury management and Sequoia Capital India is thrilled to deepen the commitment to Coinshift,” said Shailesh Lakhani, MD, Sequoia India
Alameda Ventures: “Excited to observe Coinshift leading the infrastructures to bring simple, flexible, and efficient DAO/treasury management tool into a wider audience,” said Adam, Partner at Alameda Ventures.
Notable individual investors include:
- Ryan Hoover (Founder of Product Hunt and the Weekend Fund)
- Sandeep Nailwal — Co-Founder and COO, Polygon
- Shiva Rajaraman — VP at Opensea
- Prabhakar Reddy — Founder of FalconX
- Scott Belsky — CPO Adobe and Founder of Behance
- Lenny Rachitsky — Previously Product Manager, Airbnb
- Utsav Somani — Iseed and Head of Angelist India
- Shaan Puri — Previously Director of Product, Twitch
Coinshift is a leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, general financing, and overall risk. Coinshift provides a single and easy-to-use solution that facilitates and manages treasury operations in an efficient manner. Coinshift is built on the Gnosis Safe, which allows clients to utilize its core pay-out features to manage payments, engage in collaborative multi-signature transactions, and save up to 90 percent on gas fees. We extend Gnosis Safe functionality with additional reporting features, on Ethereum and Polygon, allowing users to save time and reduce operational and gas costs.
Adani to Acquire Holcim's Stake in Ambuja Cements and ACC Limited
Largest Ever Acquisition in India’s Infra and Materials space valued at USD 10.5 billion
- Acquisition propels Adani into the cement business, and will establish its new materials, metal and mining vertical
- With this, Adani is now India’s second largest cement manufacturer (capacity ~70 MTPA)
AHMEDABAD, India, May 15, 2022 — The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd.
Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which 50.05% is held through Ambuja Cements). The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD ~10.5 billion, which makes this the largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials space.
“Our move into the cement business is yet another validation of our belief in our nation’s growth story,” said Mr Gautam Adani, Chairman of the Adani Group. “Not only is India expected to remain one of the world’s largest demand-driven economies for several decades, India also continues to be the world’s second largest cement market and yet has less than half of the global average per capita cement consumption. In statistical comparison, China’s cement consumption is over 7x that of India’s. When these factors are combined with the several adjacencies of our existing businesses that include the Adani Group’s ports and logistics business, energy business, and real estate business, we believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion.”
Mr Adani added, “Holcim’s global leadership in cement production and sustainability best practices brings to us some of the cutting-edge technologies that will allow us to accelerate the path to greener cement production. In addition, Ambuja Cements and ACC are two of the strongest brands recognized across India. When augmented with our renewable power generation footprint, we gain a big headstart in the decarbonization journey that is a must for cement production. This combination of all our capabilities makes me confident that we will be able to establish the cleanest and most sustainable cement manufacturing processes that will meet or exceed global benchmarks.”
“I am delighted that the Adani Group is acquiring our business in India to lead its next era of growth,” said Mr Jan Jenisch, CEO of Holcim Limited. “Mr Gautam Adani is a highly recognized business leader in India who shares our deep commitment to sustainability, people and communities. I would like to thank our 10,000 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am confident that the Adani Group is the perfect home for them as well as our customers to continue to thrive.”
With India’s cement consumption at just 242 kg per capita, as compared to the global average of 525 kg per capita, there is significant potential for the growth of the cement sector in India. The tailwinds of rapid urbanization, the growing middle class and affordable housing together with the post-pandemic recovery in construction and other infrastructure sectors are expected to continue driving the growth of the cement sector over the next several decades.
Ambuja Cements and ACC currently have a combined installed production capacity of ~70 MTPA. The two companies are among the strongest brands in India with immense depth of manufacturing and supply chain infrastructure, represented by their 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants and over 50,000 channel partners across India.
Both Ambuja and ACC will benefit from synergies with the integrated Adani infrastructure platform, especially in the areas of raw material, renewable power and logistics, where Adani Portfolio companies have vast experience and deep expertise. This will enable higher margins and return on capital employed for the two companies. The Companies will also benefit from Adani’s focus on ESG, Circular Economy and Capital Management Philosophy. The businesses will continue to be deeply aligned to UN Sustainability Development Goals with clear focus on SDG 6 (Clean Water and Sanitation), SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action).
The acquisition is subject to regulatory approvals and conditions.
Headquartered in Ahmedabad, India, Adani is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Defence & Aerospace, and other sectors.
Adani owes its success and leadership position to its core philosophy of ‘Nation Building‘ and ‘Growth with Goodness‘ – a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity and shared values. For more information, please visit www.adani.com
Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success.
The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.
HR Path receives €225 million in Financing
HR Path today announced a new record round of financing. With this new operation, HR Path intends to continue its international expansion and strengthen its status as a global leader in the HR industry.
This round combines the raising of external growth-oriented bank financing and a reorganization of equity around Andera Partners, a partner of the group since 2019, which is structuring a dedicated co-investment fund for the occasion. The creation of such a fund for a company the size of HR Path is unprecedented on the market. This new financing method not only offers liquidity to investors and shareholders but also allows the international group to benefit from additional financial resources to continue its growth.
The €225 million funding round was led by Andera Partners and a dozen of its subscribers, including Societe Generale Capital Partenaires (SGCP). Six French banks (Société Générale, BNP Paribas, Crédit Agricole Ile de France, Banque Palatine, LCL and Caisse d’Épargne Ile de France) have also subscribed to this operation. The assistance of Volt Associés, and this co-investment fund made this fundraising. Andera Partners, the co-investment fund and SGCP remain minority shareholders of the group.
HR Path’s services range from HR strategy consulting (Advise) through the implementation of software solutions (Implement) to payroll outsourcing (Run). The international Group aims to continue its expansion and expand its value proposition in all countries of the world, especially in the 19 countries where the group is already present.
With a double growth, both organic and external HR Path aims to:
– Double its turnover within 5 years
– Receive 400 people a year in the coming years
– Become the world leader in the digital transformation of the HR function.
“This new round will allow us to give ourselves the means to achieve our ambitions. We want to contribute to the improvement of HR performance, including through the acquisition of new companies. We want to share our HR expertise with large international groups and create HR innovation with them,” says François Boulet, co-president of HR Path.
Cyril Courtin, co-president of HR Path, adds: “The topics around human capital are more than ever a priority: adapting to change, data security, employee attraction and employee engagement. Thanks to our own talents, their expertise and their involvement alongside our customers, HR Path is able to meet all these challenges that allow companies to improve HR experience. That is why we strongly believe in our potential and we welcome the confidence, renewed for some, of our financial partners.”
François-Xavier Mauron and Antoine Le Bourgeois, partners of Andera Partners, declare: “For the past 3 years, we have financed and supported the change of scale of this champion wishing to become a leading global player in its market. It is with pleasure that we will continue to support HR Path in its projects. This new method of managing shareholdings allows us to continue to create value on a performing asset for which we have a strong conviction. ”
Marc Jacquin, Director of Participations at SGCP explains: “After having accompanied the group on the occasion of its first operation in 2015 and again in 2017, SGCP is pleased to participate in this new stage of the HR Path group and to support the management in its ambition to build a global player in a dynamic and strategic market of the HR function for companies.”
About HR Path
HR Path, global leader in Human Resources, supports companies for which the human experience is essential to their digital transformation. Our 3 business lines, Advise, Implement & Run, contribute to the HR performance of its customers.
Created in 2001 in Paris and with its 1,300 talents, HR Path advises, integrates, and operates in 19 countries for more than 1,500 clients. Its turnover to date amounts to 140 million euros.
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