Scandinavian Enviro Systems and Antin Infrastructure Partners today announced the formation of a joint venture supported by Michelin to create the world’s first large-scale tire recycling group.

The JV will combine Enviro’s unique and patented technology for the extraction of carbon black and pyrolysis oil from end-of-life tires with Michelin’s leading position in sustainable tires and Antin’s expertise in developing and scaling tomorrow’s infrastructure platforms to enable the industrial development of this innovative recycling technology.

The JV has secured a multi-year supply agreement with Michelin for the first plants established. The agreement with Michelin includes the delivery of recovered carbon black and tire pyrolysis oil (TPO).

The initial investment in the JV will be funded by Antin’s NextGen platform, which will be the majority owner of the JV. Enviro’s ownership in the joint venture will ultimately correspond to approximately 30%. As part of the JV, Enviro’s patented technology will be licensed to the JV on an exclusive basis throughout Europe.

Michelin is planning to partner in the JV as the plants are built in the future.

A first plant in Sweden with an ambitious plan to create additional recycling units in Europe

The first full-scale commercial plant will be built in Uddevalla, Sweden, with an initial capacity to recycle 34,500 tons of disposed of tires, equal to 40% of the annual volume of end-of-life tires in Sweden. Plant construction is scheduled to start in the first half of 2023, subject to a final investment decision by the JV, and the plant is expected to be fully operational by 2025.

Following the successful commissioning of the Uddevalla plant, acceleration of the European roll-out will commence. Site selection in other European countries has been initiated to ensure a rapid roll-out, with an aim to build recycling capacity for up to approximately one million tons of end-of-life tires by 2030, corresponding to a third of all tires being disposed of in Europe each year.

Sustained by Michelin, this new innovative European player will accelerate the circular economy in the tire industry The volume of disposed end-of-life tires has been steadily growing to reach 3.5 million tons per year in Europe alone. The joint venture between Enviro and Antin’s NextGen platform will develop, with the support of Michelin, end-of-life tire recycling plants throughout Europe to produce sustainable raw materials. These include reclaimed carbon black and oils that can be reused in the tire and petrochemical industries. By replacing virgin carbon black with Enviro’s recycled carbon black, carbon emissions can be reduced by more than 90%, compared to using conventional carbon black. Based on the target volume of one million tons of end-of-life tires, carbon dioxide emissions would be reduced by 670,000 tons.

Alf Blomqvist, Chairman of Enviro, commented: “I am very proud and pleased with today’s announcement which represents a significant recognition of Enviro’s technological and market leadership in recycling of tires. With Antin’s successful track record in scaling infrastructure platforms and its strong industrial understanding, and Michelin’s leading position in sustainable tires, we have found excellent partners to jointly accelerate our pan-European plant expansion and contribute to making the tire industry circular. Enviro will now be able to focus on our core business and competencies such as technology and material development, optimization and quality control.”

Anand Jagannathan and Rodolphe Brumm, NextGen Partners at Antin Infrastructure Partners, commented: “Antin is very excited to partner with Enviro and Michelin to create the world’s first large scale tire recycling business. Enviro’s patented pyrolysis technology and its highly experienced management team, combined with Michelin’s world leading position in sustainable tires, makes this an ideal platform. Antin has always been at the forefront of identifying key areas of tomorrow’s infrastructure and we believe this JV will play a critical role in accelerating Europe’s circular economy. We look forward to working with Enviro, Michelin and the JV’s management team to quickly scale the JV to its full potential.”

Maude Portigliatti, Executive Vice President, High Tech Materials – Member of the Group Executive Committee at Michelin, commented: “Today’s announcement is a significant step in our ambition to achieve a circular and more sustainable tire production. This is further proof of Michelin’s ability to step up to achieve its 2050 strategic ambitions and reduce the tire’s overall environmental impact by forging innovative partnerships for an ever more circular industry.”

It’s that time of the year again when cricket fans gear up for the excitement of the IPL season. And this year, the thrill is set to be even more intense as the matches will be shot and broadcast in 4K resolution. This means that viewers can expect a more immersive experience, with every detail of the action captured in the highest possible quality.
To make sure that you don’t miss a single moment of the IPL 2023, BenQ has come up with an impressive lineup of entertainment products that feature 4K UHD live streaming. With these products, you can enjoy the matches in the best possible quality, and experience the thrill of the IPL action right on your big screen.

Whether you’re a die-hard cricket fan or just someone who enjoys the occasional match, watching the IPL in 4K is sure to be an unforgettable experience. And with BenQ’s range of 4K projectors, you can take our viewing experience to the next level. So, get ready to join the fun and excitement of IPL 2023 with #BigEntertainmentOnBigScreen and enjoy the matches like never before!

Here’s our top list of the best IPL season entertainment products to help you get the best experience
possible:

BenQ X3000i:

The X3000i is the world’s first 4K 4LED HDR projector, with a 100% DCI-P3 Cinematic color and 3000 ANSI lumens brightness, ensuring that you get a crystal-clear image every time. This projector is perfect for watching IPL matches with friends and family at home, giving you the immersive experience, you crave.

Key Specifications:

• 4K UHD 100% DCI-P3 ACCURATE COLOR: True 4K resolution and 100 percent wide color gamut powered by BenQ Cinematic Color and HDR-PRO for authentic color production
•  4MS LOWEST LATENCY SWIFT and SMOOTH: Ultra-fast 4ms@1080p/240Hz in fast mode or 16ms with 4K/60Hz low input lag for different gaming requirements
•  SPORTS MODE ANYWHERE: 3000 ANSI lumens brightness; 100-inch images from 8.3 feet (2.5m)
  away with 1.3x zoom throw distances and 2D Keystone  PRO PERFORMANCE: Compatible for console gaming (Sony PS5, PS4, Nintendo Switch, Xbox Series X, Series S); HDMI Supporting for external Hi-Def audio systems

BenQ V7050i:

The V7050i is an ultra-short throw 4K laser projection TV that projects a 120″ screen size with just 13″ distant from the wall, bringing the IPL action straight into your living room. With UHD 98% DCI-P3 with HDR Pro, you can expect true-to-life colors and stunning contrast, making every match feel like you’re right there in the stadium.

Key Specifications:

•  UPGRADE TO TRUE 4K: 2500 ANSI Lumens powered by DMD ECD for comfortable viewing in brightly lit rooms. True 4K 3840 × 2160 or 8.3 million Pixels give incredible clarity. NOT double HD or 2K.
•  ULTRA SHORT THROW: 100” projection size at 8.7″ projection distance; up to 123“projection size. The built-in rulers provide accurate measurements to project screen size. Installation guide with visual instructions provided fore easy DIY set up.
•  MOVIE NIGHT: Unique 98% DCI-P3 super wide color gamut and HDR-PRO technology delivers vibrant color performance. Choose filmmaker mode for your movie night. Utilizes Google-certified Android TV to easily stream/cast anything.

BenQ TK700:

• The BenQ TK700 boasts the sharpest True 4K resolution and 3200 ANSI lumens, giving you a crisp and vivid image. And with the lowest 16ms input lag, you’ll never miss a moment of the action. The realistic HDR colors also provide a stellar visual performance, bringing the IPL matches to life in your home.

Key Specifications:

•  4K HDR Projection: 8.3 million pixels with 3200 ANSI lumens brightness which gives 4K UHD (3840 x
  2160) projection
•  Color Coverage: 96% REC 709 with 1.07 billion colors from 30-bit panel
•  Low Input Lag: 16.7 ms (4K@60Hz), 8.3 ms (1080p@120Hz), 4.2 ms (1080p@240Hz)

BenQ TK700STi:

The TK700STi is the ultimate projector for endless entertainment. With true 4K Ultra HD resolution and a short throw, you can project a large screen size without sacrificing space in your home. And with sports mode, you can immerse yourself in the IPL matches like never before, feeling like you’re right there in the stadium.

Key Specifications:

•  4K Short Throw Projection: 8.3 million pixels with 3000 ANSI lumens brightness which gives 4K UHD (3840 x 2160) projection and can make a 100-inch screen from less than 2 meters distance.
•  DLP Technology: BenQ Projectors delivers 4K images with the most precise and accurate realistic colors for
  more than 100,000 hours without the degradation of the DLP chip.
•  Audio: 5W chamber

What is 3CXDesktop App?

3CXDesktopApp is a desktop client of 3CX voice-over IP (VoIP) system. The application allows users to communicate within and outside the organization through their desktops or laptops.

The app can record calls and facilitate video conferencing and can be used on Windows, macOS, and Linux operating systems. It’s a tool that businesses use when they have a hybrid or remote workforce and their customers include government service providers like the NHS as well as large enterprises including Coca-Cola, Ikea, and Honda.

What happened?

Over the past few days there has been accumulated evidence a Trojanized version of the original 3CXDesktopApp client is being downloaded to unsuspecting victims around the world. The Trojanized version includes a malicious DLL file, which replaced an original one, which is known to come with the benign version of the app. Then, when the application is loaded, the signed 3CXDesktopApp is executing the malicious DLL as part of its predefined execution procedure.

This turned the innocent popular VoIP app into a full blown malware that beacons to remote servers and capable of running second-stage malware.

This is a classic supply chain attack, although there is no evidence as of the time of writing this initial report, that there is any intervention in the source code of 3CXDesktopApp. And yet, no one expected the application to be served with a malicious implant.
Supply chain attacks are designed to exploit trust relationships between an organization and external parties. These relationships could include partnerships, vendor relationships, or the use of third-party software. Cyber threat actors will compromise one organization and then move up the supply chain, taking advantage of these trusted relationships to gain access to other organizations’ environments.|

This joins the weaponization of legitimate tools

The basic layer of cyber protection is recognizing malicious tools and behaviors before they can strike. Security vendors invest substantial resources in the research and mapping of malware types and families, and their attribution to specific threat actors and the associated campaigns, while also identifying TTPs (Techniques, Tactics, and Procedures) that inform the correct security cycles and security policy.

To combat sophisticated cybersecurity solutions, threat actors are developing and perfecting their attack techniques, which increasingly rely less on the use of custom malware and shift instead to utilizing non-signature tools. They use built-in operating system capabilities and tools, which are already installed on target systems, and exploit popular IT management tools that are less likely to raise suspicion when detected. Commercial off-the-shelf pen testing and Red Team tools are often used as well. Although this is not a new phenomenon, what was once rare and exclusive to sophisticated actors has now become a widespread technique adopted by threat actors of all types.

Protection- Check Point Software Customers remain protected

Supply chain attacks are one of the most complex attack forms. Security vendors cannot rely solely on reputation-based or single-layered solutions. They need to question activity as seen in the network, endpoints, and servers and to connect the dots.

Check Point Horizon XDR/XPR is designed to provide comprehensive threat prevention across the enire security estate, with Check Point’s Infinity architecture.

The platform immediately blocks cyber threats originating in any part of the environment and prevents them from impacting the org and propagating across additional entities. XDR/XPR represents your last line of cyber defense; an additional layer of security across your consolidated security estate. Check Point Horizon XDR/XPR prevents complex attacks where seemingly benign events across different parts of the security estate, add up to a critical threat to your organization. The platform can automatically stop threats from propagating and spreading within your organization and provides clear forensics as extra validation for the SecOps user.

All software vulnerabilities and attack signatures that are found by Check Point Research (CPR) or seen in the wild, such as the Trojanized version of the original 3CXDesktopApp, are immediately fed to Check Point’s ThreatCloud, the brain behind all of Check Point’s products, which propagates the appropriate protections throughout Check Point’s products so that all Check Point customers are instantly protected with no patching needed.
That is exactly what happened in this case.

As soon as the Trojanized version of the 3CXDesktopApp client was reported, all relevant protections were propagated through all of Check Point products.

Wencor announces an exclusive, multi-year defense partnership with Regal Rexnord Aerospace and an extension of their current exclusive commercial aftermarket agreement.

Peachtree City, GA (March 30, 2023) Regal Rexnord Aerospace has selected Wencor as its exclusive distributor supporting the global military and government aftermarkets for Regal Rexnord’s seal and bearings products. In addition to the agreement, Wencor and Regal Rexnord Aerospace recently announced the extension of their exclusive global agreement, in which, Wencor will continue to distribute Regal Rexnord Aerospace seals and bearings to the commercial aviation aftermarket through 2027.

“Regal Rexnord Aerospace has enjoyed a strategic partnership with Wencor for nearly two decades, which has proven to be value-added in servicing the growing needs of the aerospace market. We are pleased to continue our joint efforts in supporting our mutual commercial and defense customers with the highest quality of engineered solutions,” said Regal Rexnord Vice President and General Manager – Aerospace Division, Jamie Quilter.

“Regal Rexnord has been a great partner for almost twenty years, consistently offering a growing portfolio of products. We are excited to extend and expand our long-term relationship, both of which allows Wencor to continue delivering on its value proposition of providing innovative solutions that enhance reliability and availability to our commercial and defense customers through our best-in-class service levels,” adds Wencor Chief Executive Officer, Shawn Trogdon.

About Wencor
Wencor has been a trusted partner in aerospace and defense for over 60 years, offering CMM and DER repairs, PMA design and development as well as an extensive network of distribution solutions to help customers lower the cost of aircraft ownership while increasing reliability. We support most of the commercial airlines, repair stations and OEMs worldwide through our corporate affiliates; Absolute Aviation Services, Aerospace Coatings International, Accessory Technologies, Aviatron, Fortner Engineering, PHS Aviation, Silver Wings Aerospace, Soundair Aviation Services, Aero-Glen International, ASC International and Kitco Defense. Wencor is headquartered in the Atlanta, Georgia area with additional offices in Utah, Alabama, California, Florida, New York, Texas, Vermont, Washington, Amsterdam, Singapore, Guangzhou, Shanghai, and Istanbul. For more information, please visit www.wencor.com and follow Wencor on LinkedIn.

About Regal Rexnord Aerospace
For over 65 years, Regal Rexnord has provided quality bearings, seals, gears and electrical components used in the aerospace industry all over the world. As the premier leader in the supply of highly engineered specialty bearings and mechanical seals, Regal Rexnord products can be found in every aspect of the aerospace industry, from engine systems and flight controls, to landing gear and aircraft structures. Whether it’s the rudder of a plane or a landing gear, Regal Rexnord Aerospace products help guarantee a smooth operation.

GLEN HEAD, N.Y. March 30, 2023—Today is opening day across baseball, and what would the start of the season be without the annual simulation by Strat-O-Matic, the market leader in sports simulations, on the regular season and playoffs? Led by Aaron Judge’s 52 home runs, 132 RBI and .313 batting average, the sim has the slugger pushing his Yankees to 102 wins and eventually defeating Los Angeles, four games to two, to win their 28th championship.

Strat’s simulation tabbed Cleveland with a league-best 111 wins earning the A.L. No. 1 seed, with New York at No. 2 and Houston (101 wins) No. 3. The sim has New York beating wild card Minnesota, which had toppled Cleveland in the ALDS, and the Dodgers in the championship.

In the N.L., San Diego’s 100 wins led the circuit, with Atlanta (96) and St. Louis (94) the other division winners. Los Angeles’s path to the final round included a wild card win over New York, revenge 3-1 ALDS triumph over San Diego, and 4-2 series spread over Atlanta.

Other A.L. awards went to Cy Young winner Shane Bieber of Cleveland (20-6, 2.80 ERA, 228K) and Rookie of the Year Grayson Rodriguez of Baltimore (11-6, 2.97 ERA). In the N.L., Nolan Arenado’s .293 average, 46 home runs and 116 RBI for St. Louis earned the third baseman the MVP, Yu Darvish of San Diego claimed the Cy Young with his 17-4, 2.55 ERA and 221 strikeouts and Corbin Carroll of Arizona taking the Rookie of the Year (20 home runs, 62 RBI).

Nonprofit living community awarded a total of $401,950 for its Foster Grandparent Program

 

(St. Louis, Mo., March 30, 2023) — Cardinal Ritter Senior Services (CRSS) – one of South County’s largest independent and assisted living nonprofit communities – recently received a $401,950 grant from AmeriCorps for its Foster Grandparent Program (FGP). The three-year renewable grant is an AmeriCorps-funded program that began in 1965. CRSS has consecutively received this renewable grant since 2001.

AmeriCorps presents the FGP grant to organizations with a dual purpose: to engage Americans ages 55 years and older in volunteer service, as well as to provide one-on-one support to youth with special and exceptional needs or those who are in circumstances that limit their academic, social, or emotional development.

Foster grandparents volunteer between five and 40 hours each week at site partner schools and early childcare centers. Volunteers must be age 55 or older and meet established eligibility guidelines. In addition to earning a tax-free stipend, the foster grandparents receive accident and liability insurance, meals while on duty, transportation reimbursement, and monthly training.

“Our growing program currently has 56 foster grandparents who are making a difference in the lives of 350 children,” said Cardinal Ritter Senior Services’ CEO Chris Baechle. “We are proud to once again receive this very generous grant from AmeriCorps, which not only benefits St. Louis children but also helps our volunteers stay active and involved with the community,”

Founded in 1961, Cardinal Ritter Senior Services (CRSS) creates communities that promote the dignity of human life and reflect the spirit of Jesus Christ. Nearly 7,000 of the ministry’s older people benefit from housing options including independent or assisted living, memory care, affordable apartments, and skilled nursing communities. In addition to its main Shrewsbury campus located at 7601 Watson Rd., the nonprofit has a robust social services department.

For more information about becoming a foster grandparent, call (314) 918-2297 or visit www.cardinalritterseniorservices.org.

MENLO PARK, Calif. and COLUMBUS, Ohio, March 30, 2023 — Kitman Labs, the performance intelligence company setting a new industry standard for how elite sports organizations use data, today announced a landmark multi-year partnership with the Columbus Crew of Major League Soccer (MLS). The partnership will be housed at the Crew’s world-class facilities in Lower.com Field and the OhioHealth Performance Center in Columbus.

“We welcome the Crew and their entire Organization, led by Tim Bezbatchenko, into the Kitman Labs performance family,” founder and CEO Stephen Smith said. “As the first club in Major League Soccer history, the Crew are paving the way as the first in MLS to become an ‘Innovation Partnership’ club – a multi-faceted partnership which will impact every level of athlete performance and club operations, from their first team to their scouting and youth programs to their approach to investment and resource allocation. Our collective goal is to create a fully integrated operating system designed to elevate and advance player and team performance in North America, and we are proud to be able to collaborate with a club that has been known as an innovation leader since the founding of MLS.”

“The Crew and Kitman Labs are two organizations with complementary philosophies which is why this groundbreaking partnership makes so much sense,” Crew President & General Manager Tim Bezbatchenko said. “We are both deeply committed to fundamentally changing how data is used in sport to optimize performance, reduce injury risk, support operations, and ultimately drive success across every aspect of the organization, from the First Team, through Crew 2 and to the Academy. That common mission has now evolved into the development of an all-encompassing operations platform that will hopefully yield dividends in every aspect of team operations – not just for the Crew, but for North American soccer in the years to come. We are proud to be the first adopters in MLS as we look to try and set a new standard in how performance intelligence is leveraged across the sport.”

Kitman will collaborate with the Crew to leverage its proprietary performance intelligence platform and analytics to support three key areas of focus:

Player Development – delivering a tailored and data-driven talent development process to maximize player potential
Evidence-based Coaching – development of a real-time integrated system to enable objective, outcome-driven coaching and planning
Scouting and Recruiting – development of a data rich, configurable recruitment analytics solution to maximize the return on current and prospective players

With roots as “The Team of Firsts in MLS,” the Crew – under Bezbatchenko’s leadership since 2019 – have secured three championships: 2020 MLS Cup, 2021 Campeones Cup, 2022 MLS NEXT Pro Cup.

Leading the day-to-day implementation of the partnership are Crew Vice President of Soccer Administration Jaime McMillan, Crew Director of Analytics Alex Mysiw, Kitman Labs Performance Strategy Lead Darcy Norman and Kitman Labs Project Manager Courtney Steward.

The Kitman Labs Innovation Leadership partnership is designed to provide Columbus with deeper, strategic insight into all areas of on-field performance, ranging from developmental club best practices to helping gamify trade and transfer scenarios as well as making sure that injury prevention and maximal performance scenarios are created effectively and easily for all athletes, while giving performance leaders the ability to maximize every area of performance. The Crew and the Kitman Labs teams will work in lock-step to develop and instill the infrastructure and processes necessary at the ground level, to support the accurate, real-time collection and distillation of relevant data across the business to enable the analysis necessary to drive the desired KPIs.

This new business launch follows other recent business strategy moves Kitman Labs have undertaken. That includes the successful close of a $52M Series C funding round led by Guggenheim Investments, a global asset investment and advisory firm with more than $259 billion* in assets under management and two strategic acquisitions of The Sports Office and Presagia Sports, both made in the last two years. The combined companies represent the industry’s largest network of elite and youth organizations (700+) and created the industry’s largest dataset of talent, performance, and medical data for all stages of the athlete lifecycle.

GURUGRAM, India – March 30, 2023 – Samsung, India’s largest consumer electronics brand, has introduced its latest external storage device, the PSSD T7 Shield (Portable Solid State Drive) that comes with 4 TB of storage and never seen before speeds and durability in an amazingly sleek design.

Equipped with a read speed reaching as high as 1,050 MB/s and a size as compact as a credit card, the PSSD T7 Shield is perfect for creative professionals and adventure seekers who are always on the go.

The PSSD T7 Shield substantially reduces waiting time, giving users an accelerated and break-free workflow. The external storage device is powered by USB 3.2 Gen2 and embedded PCI NVMe technology that offers read/write speeds up to 1,050/1,000 MB/s. The download time from a laptop is also reduced to 8.0 seconds for a 4K quality 4.8 GB video and 4.4 seconds for a full HD 3GB video. PSSD T7 shield 4TB is suitable for high-resolution video content recording as it offers sustained performance for longer durations. A 12K resolution video of 1TB would approximately take only 22 minutes (50 frames per second 17:9 DCI, 8:1 compression codec) to transfer from the source to another device.

This latest SSD is also up to 9.5 times faster than external hard disk drives (HDDs), which will leave creators, professionals, and other users with more time to focus on the job. So, whether it’s transferring high-quality videos or editing heavy files, the PSSD T7 Shield is an ideal external storage device that alleviates concerns about inconsistent drive performance.

“The upgraded PSSD T7 Shield offers a premium experience and convenience with increased 4 terabytes storage capacity. This storage device has been developed after considering various metrics and use cases and is the ultimate storage device for today’s dynamos and go-getters who seek enhanced performance and low latency during data transfer,” said Puneet Sethi, Vice President, Consumer Electronics Enterprise Business, Samsung India.

“We understand the evolving needs of our customers who prefer products that are compatible, innovative, durable, and affordable, and Samsung PSSD T7 Shield is just that,” he said.

Super Solid Durability and A Wider Compatibility

Designed in a strong aluminum body, the PSSD T7 Shield is an IP65-certified2 device making it water and dust-resistant and shock-resistant from drops of up to three meters. Users can use it not only in a confined workspace but also outdoors when shooting or creating content in real time.

Following the USB power specifications, which allow it to be compatible with a variety of host devices from mobile phones and tablets to professional cameras, PSSD T7 Shield has a diverse utility for outdoor photographers and travelers.

Compact Size Yet High Storage

An external storage device the size of a credit card – that is what the PSSD T7 Shield offers its users. You can carry it in the palm of your hand or literally in your pocket. Weighing only 98 grams, users can simply slide it into their pockets and carry it wherever they want. Also, the PSSD T7 Shield has 4 TB storage, which means maximum storage at minimum weight and absolutely no handling hassle.

Price, Variants & Where to Buy

Available in blue, grey, and red colors to cater to people of different tastes, the 4 TB PSSD T7 Shield is priced between the range of INR 30,000 and 35,000. It will be available at all Samsung retail stores, leading consumer electronics stores, and across online platforms, including Samsung’s official online store Samsung Shop.

Warranty

Consumers will be offered a 3-year limited warranty on the PSSD T7 Shield.

Key Specifications

Bengaluru, India, March 30, 2023 – Building on its strong legacy of innovation, Signify (Euronext: LIGHT), the world leader in lighting, has expanded its Philips Smart WiFi range with the launch of a new smart LED downlighter, powered by WiZ.

The new downlighter is available in a sleek design and two exquisite color options – Black-Rose Gold and White-Silver, to add a beautiful touch to your home interiors. Its premium housing and deep recessed design offer low glare and easy installation, while its minimal trim design lends a bright and focused 36-degree light beam for accent lighting.

The best part is that you can easily operate the downlighter using voice control or the WiZ app and choose the perfect white color ranging from warm white to cool white, to create the right ambiance. It also features the latest SpaceSense technology from WiZ, which is a revolutionary motion detection technology for your lighting system that doesn’t require any sensor to be installed. The lights can automatically switch on or off, by sensing motion in the room.

It is available in 12W and 840 Lumens options, across all small and large format retail stores and e-commerce platforms at an MRP of ₹5,099/-

30 March 2023, Mumbai: Carnot Technologies, India’s leading agri AI-IoT platform backed by Mahindra begins a strategic partnership with Avanti Finance. Having revolutionized the tractor renting module in India with their deep tech that monitors tractors and improves earning potential of Rental Entrepreneurs, Carnot now forays into the agri-fintech space. Through this strategic partnership, Carnot has launched the Industry’s first working capital credit access while leveraging IoT data as well as unique tech capabilities and resources.

Carnot currently works with more than 26,000 rental entrepreneurs, a specific set of communities in the rural ecosystem who are the driving force behind the mechanization in India. The rental business is seasonal and REs capital investment is at risk for a long time as payment from the farmers is often delayed. This RE community heavily relies on informal sources of lending and uses its hard-earned savings to continue its business operations.

Through this unique partnership, Carnot Technology and Avanti Finance have created an apt credit product that will help REs manage their business operations and improve their working capital requirements.

With an AI-enabled IoT Kit connected to tractors, REs uses the mobile-based application for real-time live tracking of their assets, exact acreages of work done, fuel status, and Accounting solutions. With a first-of-its-kind data infrastructure model, this partnership will enable new ways to credit underwrite the customers, allowing them to access tailored credit solutions based on their cash flow.

Pushkar Limaye, CTO & Co-Founder of Carnot Technologies, said “Carnot’s vision is to build products and solutions to help Bharat’s rental entrepreneurs succeed. Easy access to financing solutions is central to their livelihood, which is highly seasonal in nature. Our partnership with Avanti Finance is a perfect example of how agri-tech companies can work with lenders and deliver first-of-its-kind innovative solutions.”

“We at Avanti are excited about this partnership with Carnot. Together we will be able to further serve customers in the Agri value chain including farm implements. In line with our mission of supporting livelihoods and inclusion, this partnership will enable credit access to farmers by involving all stakeholders in the ecosystem. This will be possible by combining Avanti’s platform with Carnot’s on-ground technological solutions.” says Sunil Kumar Tadepalli, Chief of Partnerships, Avanti Finance.