Category business

Covestro and RWE have signed a long-term power purchase agreement (PPA) for the supply of power and guarantees of origin from offshore wind turbines in the North Sea for the Covestro production site in Antwerp, Belgium. The contract runs from 2026 to 2030 and will enable Covestro to increase the share of renewable energy from the current 45 percent to 60 percent of the site’s current power needs and secure the supply of green energy until 2030, saving 103,000 tons of CO₂.

“The new contract shows: We are making consistent progress on our path to climate-neutral production – even in economically challenging times,” says Dr. Thorsten Dreier, Chief Technology Officer at Covestro. “Because we are convinced that our vision of a complete focus on the circular economy and climate neutrality is the only way to ensure the long-term success of our company.”

Ulf Kerstin, CCO of RWE Supply Trading, says: “We are delighted to support Covestro in achieving its ambitious sustainability goals and to be able to accelerate the transition to climate-neutral production. The great interest of our customers in green power underlines the importance of CO₂-free power for the manufacturing industry.

The new PPA with RWE replaces a current agreement, which expires at the end of 2025. At the Antwerp site, Covestro produces the high-performance plastic polycarbonate, which is used in car headlights, electrical and electronic components, LED lights, medical technology and many other applications. Polyether and the important industrial chemical aniline are also produced there, and Covestro is currently expanding production there with the construction of a new world-scale plant.

“This supply agreement is a further step towards increasing the proportion of renewable power in our production,” says Dr. Georg Wagner, Managing Director of Covestro in Antwerp. “With this and the use of sustainable raw materials and innovative recycling technologies, our production site is on the way to a climate-neutral and fully circular future. We are delighted to have found a partner in RWE with whom we can reach the next level.”

Covestro aims to achieve climate-neutral production by 2035 and has already concluded several electricity supply contracts worldwide. Since 2023, the site in Shanghai has been supplied with 45% of its electricity from solar and wind power, and in the USA, Covestro has concluded a virtual power purchase agreement with the company Ørsted for 200 gigawatt hours of solar power, which corresponds to twelve percent of the electricity requirements at the Baytown site.

By 2025, ten percent of the electricity at the company’s sites in Germany is also to come from renewable energy sources. In this way, Covestro aims to achieve the interim target of reducing greenhouse gases from production by 60% by 2030. At the end of 2023, Covestro covered about 16% of its global electricity needs from renewable sources.

India, Chennai, 21th February 2024: Autonom8, a low-code automation solution provider, announces its partnership with Berar Finance Limited. The partnership marks a significant milestone for both the companies as Autonom8 is set to empower Berar Finance with intelligent loan origination and customer journey automation through its low-code automation platform.

Berar Finance Limited, known for its commitment to delivering financial services, has chosen Autonom8 as its automation partner to enhance operational efficiency, streamline processes, and provide a seamless user experience.

Autonom8’s low-code automation platform empowers organizations to rapidly develop and deploy automation solutions, reducing the complexity and time associated with traditional development methods. With this partnership, Berar Finance Limited aims to hyper-automate its loan origination process and other loan-related operations by leveraging Autonom8’s hype automation platform.

Key Benefits and Rationale of Collaboration: 

Enhanced Customer Experience: Implementing Autonom8’s automation solutions results in a more seamless and customer-centric experience for Berar Finance’s clients. This enhancement is facilitated by instant status updates, provided through integration with CIBIL for credit score checks, available to Berar’s sales executives nationwide.

Scalability, Flexibility, and Enhanced Data Tracking: Autonom8’s low-code automation platform offers the scalability and flexibility required to adapt to Berar Finance’s evolving business requirements and industry dynamics. This adaptability is complemented by enhanced data tracking capabilities, enabling comprehensive analysis of loan applications (total, approved, rejected) and facilitating informed decision-making and strategic planning.

Efficient Loan Origination: Autonom8’s platform empowers Berar Finance to expedite the loan origination process, ensuring swift and accurate decisions while enhancing overall operational efficiency. This efficiency enhancement is coupled with streamlined operations, reducing errors and increasing productivity.

“We are excited to collaborate with Berar Finance Limited and support their journey towards digital transformation in the financial sector,” said Kameswaran Subbaraman, VP of Engineering at Autonom8. “Our low-code automation platform is designed to empower organizations to achieve greater agility and efficiency, and we look forward to helping Berar Finance enhance its loan origination processes and overall operational excellence.”

This partnership highlights Autonom8’s continued commitment to providing innovative automation solutions to the financial industry, enabling organizations to thrive in an increasingly competitive landscape.

Mumbai, 21th February 2024: TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, today announced that their contract with Rolls-Royce, a global leader in technology and innovation, has been extended for five years until 2029. The partnership extension is for the state-of-the-art Parts Distribution Centre (PDC) in Singapore serving the Asia Pacific markets for Rolls-Royce’s Power Systems business unit. This extension reflects the confidence and trust placed by Rolls-Royce in TVS SCS’s service performance and underscores the continued success of the collaborative efforts between the two companies.

“We are delighted to continue our partnership with Rolls-Royce and contribute to the success of their Parts Distribution Centre in Singapore,” said Mr. Vittorio Favati, CEO TVS SCS Global Forwarding Solutions. “The renewal of this contract is a testament to the efficiency and reliability of our tailored supply chain solutions. We look forward to further enhancing the operational excellence of the PDC and supporting Rolls-Royce’s continued growth in the Asia Pacific region.”

Giovanni Spadaro, President, Global Markets Rolls-Royce Power Systems, and Managing Director, Rolls-Royce Solutions Asia, said “The extension of this contract for an additional five years underscores the shared commitment of both companies to achieving strategic objectives and desired outcomes, further solidifying the foundation for continued growth and operational excellence in the region.”

The collaborative journey between TVS SCS and Rolls-Royce Power Systems regional center, Rolls-Royce Solutions Asia (formerly known as MTU Asia) began in early 2013 with the mutual goal of enhancing warehouse efficiency and productivity at the PDC through the implementation of an Automated Storage & Retrieval System (ASRS).

In 2014, the project came to fruition with the completion of the state-of-the-art ASRS warehousing system tailored to Rolls-Royce’s specific requirements. The facility has since proven its efficacy, significantly contributing to improved overall warehouse productivity and efficiency.

Bengaluru, 21th February 2024: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, achieved a significant milestone today with the ground-breaking ceremony to set up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh.

In a ceremony held at the new factory site at Kanpur Road, Lucknow, the Hon’ble Chief Minister of Uttar Pradesh, Shri Yogi Adityanath unveiled the Foundation Plaque and laid down the Foundation stone.

The ceremony was graced by Minister of Finance & Parliamentary Affairs, Govt of Uttar Pradesh Shri Suresh Khanna and Minister for Industrial Development, Export Promotion, NRI, and Investment Promotion, Government of Uttar Pradesh Shri Nand Gopal Gupta, senior members of the Hinduja family, Ashok Leyland’s dealers, customers and suppliers, and several other dignitaries.

The greenfield manufacturing facility will be spread over 70 acres. Packed with latest in manufacturing technology, this will be Ashok Leyland’s most modern and green factory worldwide, delivering world class quality standards. The primary focus shall be on production of electric buses, while also having capability to produce other vehicles powered by existing and other emerging alternate fuels.

Mr. Dheeraj Hinduja, Executive Chairman, Ashok Leyland said, “The Foundation Stone laying ceremony marks the beginning of a new chapter for Ashok Leyland in Uttar Pradesh. Once operational, the facility will have a positive impact on our common goals of generating employment opportunities and advancing sustainable mobility in India. We remain committed to driving innovation and setting new benchmarks in the field of green mobility. With this new plant, we are preparing ourselves for the future and take one step further to achieve our Net Zero emissions goals.”

Mr. Shenu Agarwal, MD & CEO, Ashok Leyland said, “This facility will not only address the rising demand for electric vehicles but also play a vital role in the holistic development of the region. Our focus on electric trucks and buses resonates with the evolving landscape of sustainable transportation and pushes us one step further to build a green mobility future.”

Once operational, the plant will initially have the capacity to produce 2500 vehicles per year. Ashok Leyland plans to expand this capacity to 5000 vehicles annually over the next decade, anticipating the growing demand for electric and other types of vehicles in the coming years.

Ashok Leyland stands to play a pivotal role in Uttar Pradesh’s electric mobility sector, particularly considering the state’s notable accomplishment of having the highest number of registered Electric Vehicles (EVs) in India, highlighting the state government’s strong commitment to facilitating the transition to eco-friendly transportation solutions.

The establishment of this plant signifies a strategic initiative by Ashok Leyland, placing the company at the forefront of the green mobility revolution in the state. This facility will be Ashok Leyland’s seventh vehicle plant in the country.

New Delhi, 21th February, 2024: UPES ON, the digital education arm of UPES University, renowned for its innovative and industry-aligned programs, announces its strategic partnership with Safexpress via   Seekho, its edtech initiative. Together, they are set to redefine the educational landscape for students enrolled in the MBA and PGP programs in Logistics & Supply Chain Management.

UPES University, with its consistent commitment to providing high-quality education, ranks 52nd by NIRF and holds the prestigious title of the 1st Indian Private University for Academic Reputation by QS World Rankings. The digital education wing, UPES ON, was established to empower working professionals for leadership roles in tomorrow’s digital transformations.

The partnership with Safexpress underscores UPES ON’s dedication to delivering industry-relevant education and providing experiential learning opportunities. The benefited programs include MBA – Logistics & Supply Chain Management and PGP – Logistics & Supply Chain Management.

Key highlights of the UPES ON Program in collaboration with Safexpress include modules covering Advanced Technology and Digital Supply Chain, as well as Global Supply Chain. The program leads to an additional Safexpress certificate for students. The curriculum includes experiential learning with Safexpress experts, industrial immersions in Safexpress facilities, and additional benefits such as live projects, and workshops.

Commenting on the partnership, Piyush Arora, Professor of Practice, UPES ON stated, “We are excited about our partnership with Safexpress through Seekho, which enhances our commitment to providing industry-relevant education and experiential learning opportunities for our students.”

“This collaboration is a testament to our dedication to nurturing talent in the logistics and supply chain domain. We look forward to contributing to the skill development of the future leaders in this industry,” said Mr. Vijay Vashisht, Vice President, Business & Marketing Strategy, Safexpress.

This collaboration not only ensures academic excellence but also provides students with a holistic understanding of the industry through optional industrial visits and immersive experiences.

Mumbai, February, 2024: Samsonite, the global leader in travel solutions, launches its exciting campaign, ‘Tested Like Samsonite’, which showcases a legacy of excellence spanning over a century. Redefining quality and durability, the campaign features influential personalities experimenting with a series of products, symbolizing perseverance and resilience.

For over 112 years, Samsonite has been synonymous with being the trusted leader in the travel solution industry. The ‘Tested Like Samsonite’ campaign is a tribute to individuals who showcase courage and strength, even during adversities. In addition to traditional testing, the campaign draws parallels between the resilient journeys of each featured individual and the quality of Samsonite’s products.

Ms. Anushree Tainwala, Executive Director – Marketing, emphasizes, “Samsonite products are not just luggage; they are a testament to our commitment to quality and durability. ‘Tested Like Samsonite’ is a celebration of resilience and quality. Our campaign captures the essence of Samsonite – durability and resilience. The purpose of the campaign is to ignite inspiration among our audience while underscoring our commitment to excellence.”

In the fourth video of the Tested Like Samsonite campaign, Mamaearth’s Co-founder & CEO, Ghazal Alagh emerges as a beacon of resilience. Reflecting on the myriad pressures of the industry, she draws parallels to the durability of her trusted Samson products. In a fascinating demonstration, Ghazal Alagh subjects the Cubelite series to an intense test of impact and pressure, demonstrating how it remarkably rebounds to its original form, hence showcasing the ability to withstand the rigors of travel. It is a testament to the commitment, she reaffirms, that the brand epitomizes – strength and reliability.

The following video features Chef Garima Arora, renowned culinary expert, who showcases the strength and toughness of the Samsonite’s EVOA series in the heart of the kitchen. Subjecting the product to a barrage of challenges with extreme impact tests, from cracking nuts on top of it to turning it into a chopping board, Chef Garima Arora elucidates Samsonite’s commitment to crafting luggage with robust materials, designed to endure the more demanding impacts. Marveling at the EVOA series’ effortless resilience with its surface barely scratched, she reaffirms, “Because you deserve what’s only been #TestedLikeSamsonite.”

The campaign also features a diverse lineup including Karun Chandhok, Milind Soman, Sania Mirza and Vidyut Jammwal, reflecting Samsonite’s commitment to diverse talents and achievements.

The 6-part video series showcases the challenges each individual overcomes in their journey. Displayed across various mediums, the campaign will feature on digital platforms, outdoor spaces, and social media networks.

This campaign marks Samsonite’s commitment to offer world-class products and redefines the boundaries of innovation in the travel industry. It embodies the enduring spirit of Samsonite’s creativity and is a symbol of strength and durability.

Lucknow, 21st February 2024– The excitement is mounting as the much-awaited Times of India Sports Awards (TOISA) 2024 gears up to honor the nation’s sporting heroes on February 23 at Centrum, Lucknow. TOISA, India’s first popular choice for multi-disciplinary sports awards, is all set to bring together the who’s who of the sports world, government officials, and entertainment luminaries for an evening of celebration and recognition.

Established in 2015 as a national social responsibility by the Times of India group, TOISA has become a beacon for recognising and motivating sports talent in India. With a legacy of five spectacular editions, TOISA 2024 is a grand celebration of excellence across 22 sports disciplines.

Continuing the tradition of having distinguished mentors, TOISA 2024 is honored to have Mr. Mahesh Bhupathi as the Mentor for the evening. His commitment to promoting sports aligns seamlessly with the TOISA mandate, and his presence adds a unique flavor to this year’s edition.

In the past, TOISA has been graced by legendary sports personalities, including Carl Lewis, Nadia Comaneci, and P. Gopichand. This year, continuing the tradition, the event is set to host iconic figures such as Saina Nehwal, Mahesh Bhupathi, Mary Kom, Anju Bobby George, and many more.

The star-studded guest list includes luminaries from various sports, promising an evening filled with glitz, glamour, and heartfelt recognition. Athletes such as Mirabai Chanu, Gagan Narang, Rani Rampal, and others are expected to be in attendance, creating an atmosphere of celebration and camaraderie.

Commenting on the anticipated event, Puneet Gupt, COO of Times Internet, said, “As we approach TOISA 2024 in Lucknow, the collaboration between TOISA and the UP government has played a crucial role in establishing a leading industry platform that acknowledges sporting achievements and highlights the state’s immense talent. We take pride in contributing to this initiative and sincerely thank the UP government for its commitment to promoting a sports culture and recognising its societal impact. Our joint efforts are shaping a promising future for Indian sports, and TOISA 2024 underscores the success of the partnership between TOISA and the visionary leadership of Uttar Pradesh.”

TOISA 2024 will witness the presentation of the Lifetime Achievement Award, and the UP Award for Change Maker Of The Year will acknowledge individuals who have played a pivotal role in transforming the sports landscape in Uttar Pradesh.

21st February 2024, New Delhi: Unstop, the talent discovery, engagement, and hiring platform for students and graduates, has introduced Unstop Talent Park, a unique contest that will offer a golden opportunity for students to grow and upskill themselves.

A chance to apply one’s knowledge to real challenges and learn more, Unstop Talent Park will provide students a chance to land internships that could lay the foundation for a successful career. Unstop Talent Park has two tracks – Tech and Non-tech.

The Tech track will involve an MCQ, a coding assignment, an executive summary round, and a detailed deck submission round, before the grand finale. If you are a tech, coding, or problem-solving enthusiast, then the Tech track is the one to choose. The Non-tech track will include an aptitude assignment followed by an executive summary round, and a detailed deck submission before the finale. While all B.Tech, M.Tech, M.E., and Dual Degree students are eligible for the Tech track, the Non-tech track is open to students enrolled in any field of study in any university in the country.

Those who crack the contest will be rewarded with a cash prize of INR 1 lakh, alongside an internship opportunity with a stipend of up to INR 1 lakh per month. The internship could later be converted to a full-time job offer, based on the candidate’s performance. For the first runner-up, the reward will be a cash prize of INR 50,000, while the second runner-up will receive INR 30,000. All participants will be awarded at the end of the contest. The deadline to register for Unstop Talent Park is February 29, 2024.

Ankit Aggarwal, Founder and CEO of Unstop said, “We are delighted to introduce Unstop Talent Park, a contest that promises to unlock the potential and open doors to countless opportunities for students. With an emphasis on both technological and non-technological disciplines, this contest is meticulously crafted to facilitate participants in enhancing their skills and equipping themselves for a prosperous career. We extend a warm invitation to all students to partake in this exceptional opportunity.”

21st February 2024 – Bengaluru – AQuity Solutions, an IKS Health company, has been recognized by KLAS Research as the 2024 Best in KLAS Medical Transcription Services provider. This marks the sixth consecutive year AQuity has earned top KLAS recognition for their Medical Transcription solutions. KLAS rankings are considered the gold standard in the Health Information Management and Revenue Cycle Management industries for their accurate, honest, and impartial research analytics.

“AQuity is a consistent top performer amongst Best in KLAS winning firms and one of only a small handful of vendors to retain a top KLAS ranking for such an extended period,” noted Adam Gale, president of KLAS. “Our collected survey data clearly show how AQuity’s commitment to their client’s success helps them achieve superior ratings year after year.”

“Our team takes pride in delivering solutions that support clinician wellness and productivity,” shared Jason Kolinoski, AQuity’s COO. “Transcription is still a vital service that remains the best solution for a broad range of specialties and workflow scenarios. Earning Best in KLAS year after year reflects our focus on putting customer requirements first. It’s very gratifying to earn Best in KLAS recognitions based on their direct feedback.”

“We put a high priority on how our ongoing performance is judged by our clients and take our KLAS rankings very seriously,” added Sachin Gupta, Founder and CEO of IKS Health. “Our clinical documentation solutions set the standard for workflow efficiency and burnout relief. We are proud to have our AQuity team recognized again for leading the industry in this market sector.”

Mumbai, 21st February 2024 India’s leading edtech and upskilling platform, NxtWave, gains the spotlight as its co-founders Sashank Reddy Gujjula and Anupam Pedarla are honored in Forbes 30 Under 30. Being included in this prestigious list underscores their commitment to elevate India’s tech horizon 4.0 by empowering Tier-2, Tier-3, and Tier-4 engineering college students. It recognizes 30 leaders for their ground-breaking achievements across industries. This stellar achievement comes after their last year’s notable Series A funding of INR 275 crores.

This honor is particularly noteworthy as it emerges from a highly competitive landscape, with the Department for Promotion of Industry and Internal Trade (DPIIT) reporting over 5500 recognized EdTech startups across the nation. The selection of NxtWave’s co-founders as the sole representatives in the education category highlights their massive contributions to the field.

According to a report by Morgan Stanley, India’s IT industry is expected to triple in this decade. Despite numerous opportunities, students face difficulties in securing jobs due to a lack of industry-relevant skills. After graduating from IIT Bombay and IIT Kharagpur respectively, Sashank and Anupam recognized this problem and were determined to solve it. They turned down lucrative job offers and together with Rahul Attuluri ( IIIT Hyderabad graduate), established NxtWave, aiming to equip the youth with modern Industry 4.0 technology skills and provide them with reliable placement support.

Since then, NxtWave has grown to be one of the fastest-growing edtech startups in the country with a complete focus on upskilling for tech careers in vernacular languages. In just 4 years, students from across 28 states and 5 union territories have enrolled in the company’s tech-focused CCBP 4.0 Academy and Intensive 2.0 programs. NxtWave has also built a strong student community of more than a lakh across 3,500+ colleges across the country.

Anupam Pedarla, Co-founder and Chief Operating Officer at NxtWave, said, “Youth is the strength of our nation. Equipping them with the right skills can make India a global leader. Our aim is to bring world-class technology education to every corner of India. We believe every student has a lot of potential, and with proper guidance, they can achieve incredible success. Our NxtWave students have proven this time and again. This recognition from Forbes validates the change NxtWave is bringing into the lives of thousands of young individuals.”

Sashank Reddy Gujjula, Co-founder and Head of Customer Experience at NxtWave, “This recognition is not just a personal achievement but a testament to the hard work of the NxtWave team and our students who dream big and learn consistently to secure great careers. Such accolades motivate us further towards our goal of preparing our youth for the tremendous opportunities in the technology sector.”

Over the last couple of years, the startup has forged associations with 1700+ companies which includes giants like Amazon, Google, Bank of America among others, for facilitating successful hiring of its students. Furthering its mission of improving placements for India’s youth, the company is on track to onboard 10,000 companies to hire its students in the next 2 years.