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Accesso's landmark deal with SEVEN marks strategic growth in the Saudi Market

Accesso Technology Group PLC

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown joins Proactive's Stephen Gunnion with details of a significant partnership with Saudi Entertainment Ventures (SEVEN). Brown said the collaboration highlights accesso's strategy to grow its global footprint, underlined by its 2023 acquisition of VGS, now rebranded as accesso Horizon. SEVEN, aiming to develop an expansive entertainment ecosystem across Saudi Arabia, plans to introduce over 21 attractions and more than 150 experiences across 14 cities. Horizon will be instrumental in managing admissions and entitlements for this vast project, offering comprehensive ticketing solutions and an overall visitor management system. Brown said the deal represents accesso's most substantial engagement in the Saudi market to date, providing a solid foundation for further expansion within the region. The accesso Horizon platform supports dynamic pricing, among other advanced features, aligning with SEVEN's ambitious plans. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 02, 2024 10:52 AM Eastern Daylight Time

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Kuehn Law Encourages Investors of Intellia Therapeutics, Inc. to Contact Law Firm

Kuehn Law

Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Intellia Therapeutics, Inc. (NASDAQ: NTLA ) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms. If you own NTLA please contact Justin Kuehn, Esq. by email at justin@kuehn.law or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights. Why Your Participation Matters: As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future. ™ For additional information, please visit Shareholder Derivative Litigation - Kuehn Law. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Details Justin Kuehn +1 833-672-0814 justin@kuehn.law Company Website https://www.kuehn.law/

April 02, 2024 10:37 AM Eastern Daylight Time

DeFi Kingdoms Expands its Empire with Metis L2

Hercules

Today, DeFi Kingdoms’ (DFK) crown token $JEWEL launched for trading on the Metis Layer 2 network and its leading DEX, Hercules. DFK emerged on the Web3 gaming scene in 2021, when people were still learning about Web3 gaming. It’s so far garnered industry-wide attention, massive user adoption, and booming transaction volumes, earning its place among the top Web3 games and one of the most fun to play. The gaming protocol recently partnered with Metis to launch its upcoming Player vs Player Arena (PvP), known as The Colosseum, exclusively on the Metis Layer 2 network – the only L2 sharing operational control and revenue with its community via a Decentralized Sequencer. The launch of DFK token $JEWEL on Hercules boosts the already booming growth trajectory of Metis’ leading DEX. Hercules launched less than a month ago and has already amassed significant TVL, earning its place among the top dApps on Metis as the first Sustainable DeFi Liquidity Platform built for LPs. The launch of the $JEWEL/$METIS pool is the latest opportunity offered during Hercules’ Genesis Pools period, which closes on April 7. Those looking to get into Web3 gaming are encouraged to check out DeFi Kingdoms and swap into $JEWEL on Hercules DEX. Users holding $JEWEL will earn extra rewards for joining the liquidity pool, with emissions in $TORCH, xTORCH, and xMETIS. The partnership of DFK and Hercules will leverage the Metis ecosystem’s recent growth and decentralization push, creating an avenue for long-time DFK users and $JEWEL holders to onboard to Metis, and seamlessly trade $JEWEL with deep liquidity on the ecosystem’s newest and already largest DEX: Hercules. “The partnership with Metis will allow us to accelerate some timelines,” wrote DeFi Kingdoms in its recent community update. “PvP will now be brought to our players sooner and with more features than originally anticipated! Additionally, having PvP content opens opportunities for more competitive gameplay, tournaments, streaming content, additional use of in-game items such as potions, and more demand for higher-level and stronger Heroes.” Fans and players of DFK will enjoy the lower fees, faster transaction speeds, and Metis rewards distributed to further incentivize gameplay and tournaments. Metis L2 Contact: Metis on X: X.com/MetisL2 Metis on Telegram: t.me/MetisL2 Hercules DEX Contact: Twitter: x.com/theherculesdex Telegram: https://t.me/herculesdex Contact Details DeFi Kingdoms Bolon Soron bolon@kingdomstudios.io

April 02, 2024 10:30 AM Eastern Daylight Time

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Paxful Launches Global Ethereum Support in over 150 Countries with Major Free Trading & Signup Promotions

Paxful

Paxful, the borderless payment marketplace helping millions of individuals and businesses participate in the global economy from anywhere, has just launched support for the world’s 2nd most popular cryptocurrency, Ethereum. To celebrate the launch of ETH trading - and with it all new ways to move, save and earn money on Paxful - the company announced major new and existing trader incentives that have already set new ETH trading records, approximately 5x the all-time marketplace ETH volume. The promotion period continues until April 25th, 2024, offering no-fee trading on ETH for gift card traders, up to $100 of account credit for new traders, and a selection of VIP benefits to Paxful’s top ETH traders by volume. Now available through 450 payment methods in 170 countries, ETH is a decentralized proof of stake network that acts as the “operating system” for decentralized finance and other popular assets like USDC or Web3 projects like MakerDAO. It enjoys broad and global consumer demand as both a technology and method of transaction, with growing institutional interest following the success of various Bitcoin public market offerings. Paxful's introduction of Ethereum (ETH) trading on its platform underscores its steadfast commitment to empowering its expansive user community with unparalleled access to a rich array of digital assets and boundless opportunities within the cryptocurrency landscape. The addition provides Paxful’s global user community with a range of new opportunities to diversify their crypto holdings and take part in everything the dynamic and fast-growing Ethereum ecosystem has to offer. “Paxful stands for providing financial accessibility and personal agency through the free movement of money, and we see Etherum and Bitcoin each playing an important role in this future,” said Roshan Dharia, Paxful CEO. “That’s why we’re proud to expand access to ETH as a peer-to-peer settlement layer to millions of traders in over 100 countries, with support for 450 distinct ways to trade - with or without a bank account.” For more information about Paxful’s addition of ETH and the ongoing trading promotions, with major incentives for newly registered users and high-volume traders, and 0% escrow fees on ETH gift card trades, visit Paxful's official announcement. All Paxful contests are subject to terms and conditions. About Paxful: Paxful is a borderless payment network, letting anyone move money anywhere, powered by a global community of cryptocurrency traders. Popular with +12 million users around the world, especially in the Global South, Paxful offers traders in over 130 countries access foreign and digital currencies using more than 450 on-ramps. Founded in 2015, the company was named a TIME100 Most Influential Company for 2022. Contact Details Paxful Marketing Team press@paxful.com Company Website https://paxful.com/

April 02, 2024 10:17 AM Eastern Daylight Time

Scrut Automation raises $10M in growth capital from Lightspeed and MassMutual Ventures to accelerate growth in North America

Scrut Automation

GRC platform Scrut Automation announced today that it has raised $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures and Endiya Partners. The Scrut Automation team will use the funding to enhance their platform capabilities, incorporate generative AI use cases to reduce the manual effort for risk and compliance teams and expand to North American and European markets. With this round, the company has now raised $20.5 million in total venture funding since its inception in 2021. Scrut Automation was created to address the unique risk and compliance challenges faced by tech-first mid-market businesses in highly regulated industries. These companies grapple with stringent compliance requirements from regulators and industry bodies, and mounting pressure to keep risk under the threshold, but are often hindered by limited budgets and understaffed teams. Moreover, a rapidly evolving threat landscape, accelerated by the adoption of generative AI, massive layoffs in cybersecurity teams, and the counter-intuitive, yet very real increasing skill gap in cybersecurity further exacerbate the problem for the teams. “Mid-market organizations have limited options,” says Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation. “They can buy off-the-shelf compliance automation tools that offer a one-size-fits-all approach to compliance, disconnected from the organizational risks; or invest in expensive enterprise-grade tools with year-long implementation and underutilized features.” Scrut Automation provides a third option for companies that seek to build scalable GRC programs aligned with the organization’s goals, risks, and resources. Scrut helps companies consolidate their compliance and risk management processes while contextualizing their risks, reducing duplication of effort, and automating control monitoring. “A core USP for Scrut is offering an extremely high degree of flexibility in creating GRC programs that fits closely with the customer’s environment. For example, a financial services company in the lending space will have very different regulations, compliance frameworks, and risks from a healthcare services company for hospitals. Scrut accounts for this context - as the platform adapts seamlessly to these differences. Scrut has also built practice areas for regulated industries like healthcare, financial services, and enterprise software, that allow the platform to embed expertise in addition to automation,” added Aayush Ghosh Choudhury. The Scrut platform pairs this configurability with deep automation capabilities and a proprietary unifying control framework. Integrating across a growing library of 75+ products, Scrut automates tests across more than 70% of the controls, reducing manual effort in chasing control owners and capturing evidence. This enables GRC teams to get near-real time visibility into their risk and compliance posture, enabling them to take corrective action on time. The unifying control framework ties the organization’s controls to compliance requirements, which eliminates the duplicate effort required to demonstrate compliance with different frameworks. Scrut customer Keshav Kumar, Data Protection Officer at VWO said: “Over the last financial year, we entered new geographies and industries, which were key drivers for our rapid growth. Our compliance requirements grew at a similar pace. Sourcing information across stakeholders, through multiple Google sheets, slack channels, and emails for compliance is an arduous job, something we don’t have to worry about since implementing Scrut.” As Scrut continues to grow, it aims to help mid-market companies build strong risk and compliance management practices with reduced dependency on human capacity and expertise, through an AI-first GRC concierge. "A strong security posture has always been a core need for large enterprises globally. Given the increase in the number of breaches and attacks over the past few years as well as increase in regulatory compliance requirements, mid-size enterprises are now adopting strong Governance, Risk, and Compliance (GRC) practices. Scrut's user-friendly and market-leading platform reduces this burden for security and GRC teams. We are happy to reaffirm our commitment to supporting the Scrut team." says Dev Khare, Partner at Lightspeed. Scrut Automation has been recognized by G2, a social software review platform, on their 2024 lists for fastest-growing products and best security software. “Legacy GRC products are built for enterprises, but fail to meet the needs of high-growth tech-first companies,” says Anvesh Ramineni, Managing Partner at MassMutual Ventures. “ Scrut Automation is built specifically to cater to their needs and addresses their pain points seamlessly. We're excited to support Aayush, Jayesh, Kush, and the Scrut team in building one of the fastest-growing GRC platforms globally.” Prior to Scrut Automation, co-founders Aayush Ghosh Choudhury and Jayesh Gadewar were building a procurement suite, where they spent months trying to fulfill the risk and compliance needs of their enterprise customers. Recognizing this widespread pain, they teamed up with Kush Kaushik, their third co-founder, who was helping them navigate the challenging terrain of compliance, to build Scrut Automation. With Scrut Automation, they have helped over 800 customers worldwide build enterprise-grade GRC programs. The company has also added angels and advisors from SaaS and cybersecurity sectors, including Sandeep Johri (CEO, CheckMarx), Sachin Lawande (CEO, Visteon), Vetri Vellore (Ex-Corporate VP at Microsoft), Naresh Agarwal (Head of India R&D for Traceable), Davis Hake (Co-founder, Resilience) and Todd Dekkinga (CISO, Zluri), to name a few. About Scrut Automation Scrut Automation is a SaaS-based Governance, Risk, and Compliance (GRC) platform that enables risk and compliance teams to establish scalable security controls and processes, and automate workflows seamlessly. By consolidating processes and eliminating the need for multiple legacy platforms and spreadsheets, Scrut Automation provides complete visibility into organizational risks, reduces compliance workloads, and simplifies audits. For more information, visit https://www.scrut.io/ About Lightspeed Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, OYO Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com About MassMutual Ventures MassMutual Ventures (MMV) is a multistage global venture capital firm investing in financial technology, enterprise SaaS, healthtech, climate technology and cybersecurity companies. With teams based in London, Singapore, and Boston, MMV manages over $1 billion in investment capital across the globe. We help accelerate the growth of the companies we partner with by providing capital, connections, and advice. With our deep expertise and extensive network, MMV helps entrepreneurs build compelling and scalable companies of value.. For more information, visit https://www.massmutualventures.com/ About Endiya Partners Endiya Partners is an early-stage venture capital firm with a proven track record of investing in scalable product startups. With a deep understanding of their domain and vast experience in entrepreneurship and operations, the Endiya team plays a major role in developing scalable businesses. The firm’s notable portfolio consists of multiple category-creating companies, including Darwinbox, Cult.fit, Kissht, SigTuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo, Scrut Automation, Steradian Semiconductors, Karkinos, Grip Invest, Myelin Foundry, and BluJ Aerospace. Founded in 2016, Endiya Partners has $100M under management. For more information, visit: https://endiya.com/ Contact Details Scrut Automation Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.scrut.io/

April 02, 2024 09:00 AM Eastern Daylight Time

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Sonrai Security Launches Industry's First Cloud Permissions Firewall for AWS, Azure, and Google Cloud

Sonrai Security

Sonrai Security, a leader in cloud security solutions, today unveiled the launch of the industry's first Cloud Permissions Firewall for AWS, Azure, and Google Cloud. This groundbreaking technology revolutionizes cloud access and permissions security, offering a seamless one-click least privilege solution with zero disruption for cloud operations and development teams. Sonrai's Cloud Permissions Firewall transforms the complex landscape of cloud access and permissions security into a streamlined process with just one click. By leveraging sensitive access and permissions intelligence, the Sonrai Cloud Permissions Firewall identifies and determines the necessary access or rights required for running workloads in the cloud. It then instantaneously blocks unnecessary and risky access to cloud services and permissions across the entire cloud estate. Development is uninhibited with automated exceptions for needed access and a frictionless permission-on-demand workflow that supports permission expansion as needed. Between AWS, Azure and GCP, there are over 42,000 possible permissions, with new permissions added daily. Thousands of permissions can be leveraged to do damage – including exposing data, nefarious entry, privilege escalation and lateral movement. As companies scale their clouds, unused sensitive access and privileges balloon, leaving gaping security holes. The Sonrai Cloud Permissions Firewall closes these holes instantly. “We have worked with companies and developers tasked with 1000’s of extra things to fix in their code, and it’s not working to solve this pressing security problem or privilege and access bloat,” said Brendan Hannigan, CEO and co-founder of Sonrai Security. “We knew there was a better option than just another ‘visibility tool’ – The Cloud Permissions Firewall delivers action that automatically closes these security vulnerabilities with zero-disruption to ongoing operations.” The Cloud Permissions Firewall delivers: 92% reduction in the cloud permissions attack surface 97% time saved accomplishing least privilege 100% protection of new identities “The challenge about deleting unused identities or enforcing least privilege is we know it's the ‘right’ thing to do, but everyone’s afraid it’ll break something or interrupt our development cycles,” said Preetam Sirur, Chief Information Security Officer of Eye Care Leaders. “However, the assurance the Cloud Permissions Firewall brings us has eliminated our hesitations. Now we just deploy – confidently.” The Cloud Permissions Firewall will be generally available on April 15th for AWS. Azure and GCP will soon follow. To learn more, join our webinar on April 16th and sign up for a free trial today. About Sonrai Security Sonrai Security is a leading public cloud identity and access management solutions provider. With a mission to empower enterprises of all sizes to innovate securely and confidently, Sonrai Security delivers identity, access, and permissions security for companies running on AWS, Azure, and Google Cloud platforms. The company is renowned for pioneering the Cloud Permissions Firewall, enabling one-click least privilege while supporting developer access needs without disruption. Trusted by leading companies across various industries, Sonrai Security is committed to driving innovation and excellence in cloud security. Sonrai Security has offices in New York and New Brunswick, Canada and is backed by ISTARI, Menlo Ventures, Polaris Partners, and TenEleven Ventures. For more information, visit https://sonraisecurity.com/ Contact Details Sonrai Security Press@SonraiSecurity.com Company Website https://sonraisecurity.com

April 02, 2024 09:00 AM Eastern Daylight Time

BridgeFT Achieves SOC 2 Type II Certification for WealthTech-as-a-Service Platform

BridgeFT

BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators and registered investment advisors (RIAs) to deliver better, data-driven outcomes for their clients, announced today that it has successfully completed its SOC (System and Organization Control) 2 Type II audit. Developed by the American Institute of Certified Public Accountants (AICPA), a SOC 2 information security standard is a report that validates controls relevant to security, availability, integrity, confidentiality, and privacy. The SOC 2 Type II certification ensures service providers meet a standard degree of security control in areas including organization and management, communications, risk management and monitoring of controls. The audit was completed with the help of Johanson Group LLP, a premier certification body helping organizations to obtain and maintain global compliance standards. Johanson Group attested to BridgeFT’s information security controls meeting the leading industry standards for financial services. Throughout the process, Johanson Group measured the availability, security, and integrity of BridgeFT’s WealthTech API and its data processing systems to ultimately determine whether effective safeguards and controls are in place. SOC 2 has a rigorous requirement on how companies handle customer data and information, and it is considered one of the highest standards for security accreditation. With this achievement, BridgeFT maintains its adherence to one of the most stringent, industry-accepted compliance frameworks for service organizations and provides additional assurance to its clients, through an independent auditor, that its business process, information technology and risk management controls are properly designed and operating as intended. “Achieving SOC 2 compliance is a major milestone for our company and an important indicator of how seriously we take data security,” said BridgeFT Chief Executive Officer Joe Stensland. “We’re committed to delivering the highest level of data security and privacy, and SOC 2 is a key part of that commitment. We’ll continue to invest in our modern, API-first platform infrastructure to ensure that our clients can trust us with their most sensitive data” BridgeFT’s WealthTech API is the industry’s first WealthTech-as-a-Service platform, offering a robust and open API to AI and trade-ready, multi-custodial data, advanced analytics and application services. BridgeFT’s WealthTech API empowers clients to reimagine the potential of their financial data and technology stack by eliminating the need for individual data feeds from a range of custodians and back-office providers, allowing wealth management firms and fintech companies to create differentiated, next-generation applications. About BridgeFT BridgeFT is a cloud-native, API-first WealthTech infrastructure platform that enables registered investment advisors (RIAs), financial institutions, and FinTech innovators to deliver better, data-driven outcomes for their clients. More than 300 leading firms trust BridgeFT to automate critical back-office operations and power their digital wealth management ecosystems—seamlessly aligning essential wealth data, proactive client insights and reporting, and portfolio management automation to deliver a truly personalized client experience. From an integrated advisor platform to flexible, open APIs, BridgeFT delivers the infrastructure needed for success. Reimagine your approach to wealth infrastructure at bridgeft.com. Contact Details Media media@bridgeft.com Company Website https://www.bridgeft.com/

April 02, 2024 09:00 AM Eastern Daylight Time

Atlas Lithium (NASDAQ: ATLX) Secures Game-Changing $30,000,000 Strategic Investment From Mitsui & Co.

Benzinga

By Faith Ashmore, Benzinga Atlas Lithium Corporation (NASDAQ: ATLX) has announced the signing of definitive investment and offtake agreements with Mitsui & Co., Ltd., a $70 billion Japanese conglomerate that boasts Warren Buffett as a major shareholder, which Atlas Lithium considers to be a strong recognition of its project and team. Importantly, Mitsui agreed to purchase $30,000,000 in common shares of Atlas Lithium at a 10% premium. In addition to the direct investment in Atlas Lithium, Mitsui has also entered into an Offtake Agreement for 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium’s upcoming production of lithium concentrate from its 100%-owned Neves Project in Brazil’s Lithium Valley. The strategic investment will provide immediate funding to Atlas Lithium to continue the development of their project and focus on revenue generation with the production and sale of high-quality, low-cost, and environmentally friendly lithium concentrate. “Today marks a significant milestone for Atlas Lithium as we progress towards our goal of becoming a key lithium supplier to the global EV (electric vehicle) battery materials supply chain. Mitsui’s investment reflects confidence in our team, assets, and business model,” shared Marc Fogassa, CEO and Chairman of Atlas Lithium. “I am honored and humbled to be here in Tokyo signing this historical agreement for Atlas Lithium that will undoubtedly result in great value creation for our shareholders. I have watched the relationship of our companies grow and I believe that this partnership with Mitsui strengthens Atlas Lithium substantially,” added Marc Fogassa. Mitsui and Atlas Lithium have been working closely since entering into a Memorandum of Understanding disclosed in January 2023. Mitsui executives and technical experts have conducted multiple visits to Atlas Lithium’s project to perform due diligence, and Atlas Lithium’s management has visited Mitsui’s offices in Brazil, the United States, Canada and Japan. The partnership marks the culmination of the mutual interest of both companies in growing Atlas Lithium. The additional financing from Mitsui will support Atlas Lithium's development, leading to the operation of an open-pit lithium mine and spodumene concentrating facility by the fourth quarter of 2024. Mitsui has had a strong presence in Brazil since 1960 and has a long-established history of profitable mining investments in the country. Why Is Brazilian Lithium Attracting Attention From Investors? With the increasing global demand for lithium, the development of new lithium projects in regions with large reserves is crucial for meeting the growing needs of the electric vehicle and renewable energy industries. For many investors, Brazil’s Lithium Valley is shaping up to be the most promising up-and-comer given that Brazil holds what has been estimated to be the 5 th largest lithium reserves in the world. Brazil's Lithium Valley, located in the Jequitinhonha Valley in Minas Gerais state, holds significance in the global lithium market. The region is attracting attention due to its abundant lithium reserves and potential for expansion. Brazil’s sources of lithium are hard rock granitic pegmatites, known for their high concentrations of lithium-containing minerals. Among these minerals, spodumene and petalite are the most valuable. Spodumene, in particular, stands out as the most economically feasible lithium source, and Brazil’s Lithium Valley is establishing itself as a premier global district for spodumene. This is one of the reasons mining companies like Atlas Lithium and their investors are flocking to the region. According to Marc Fogassa, the CEO and Chairman of Atlas Lithium, the U.S. mineral exploration company is set to become the second producer of high-grade lithium concentrate in the Jequitinhonha Valley in Minas Gerais. Atlas Lithium aims to supply high-quality hard-rock spodumene from ESG-friendly production. Fogassa mentioned that the company has garnered interest from various companies in Japan, China and the U.S., prompting his trip to Asia late last year which has now resulted in the partnership with Mitsui. Featured photo courtesy of Atlas Lithium. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:50 AM Eastern Daylight Time

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Helping Build A Sustainable Future For Construction Materials – Sky Quarry’s Innovative Approach To Recycling Shingles, Recovering Oil

Benzinga

By Jeremy Golden, Benzinga The structures protecting homes and commercial buildings are significantly contributing to global pollution levels, causing some experts to sound the alarm and call for more sustainable construction materials. Roofing waste is one of the top four construction or demolition materials discarded in landfills, with about 15 million tons of asphalt shingles ending up there annually. When dumped in landfills, shingles can take as long as 300 years to degrade and decompose to base elements. Asphalt shingles are North America's most popular roofing material due in part to their durability and low cost. Nearly six million U.S. homes are reroofed annually, sending asphalt roofing shingles to landfills for disposal. A cleantech company called Sky Quarry, Inc. is actively paving the way toward a potential multi-billion dollar solution for this ongoing waste asphalt shingle (WAS) problem. The company says it plans to revolutionize the construction materials industry by offering a sustainable path forward. A Growing Industry Though the COVID-19 pandemic had an impact on the construction market and its labor force, the industry is back on track, Fortune Business Insights reports. Valued at more than $1,320 billion in 2023, the global construction materials market size is expected to grow to $1,867 billion by 2032. That growth, driven in part by urbanization, is tied to the overall industry outlook, which forecasts more demand for infrastructure investments in residential and commercial projects. Government-sponsored projects are also expected to be a demand driver. Meanwhile, the roofing market in the U.S. was worth $27.46 billion in 2023 and is expected to grow to $42.66 billion by 2033. Construction activities in the United States make up about 4% of the country’s GDP, making the construction material industry an important economic driver. The materials industry, however, is faced with many environmental concerns, and the impact of these materials is increasingly being taken under consideration as the sector grows. The U.S. is poised to run out of room in landfills by 2036; thus, waste will have to be transported further and further out. Construction and demolition waste accounts for over 39% of global carbon emissions, so it is under increasing pressure to become more sustainable as the world population is expected to reach close to 10 billion by 2050. This will cause the demand for housing, office space and other developments to increase. When it comes to roofing specifically, asphalt shingles are valued for their affordability and ease of installation. With a production process that involves the extraction and refining of crude oil, however, asphalt shingles contribute to air and water pollution and have a relatively short lifespan, leading to frequent replacements that generate a considerable amount of waste in landfills. As a result, there is a growing need for sustainable construction methods that minimize environmental impact, as also evidenced by a recent study. Raising awareness among construction stakeholders and the public about waste management and recycling benefits is not only essential for the environment – recyclable products also offer economic and financial benefits. Sky Quarry’s Solution – Targeting Sustainability And Profitability Adopting a more thoughtful approach throughout the construction lifecycle can go a long way in alleviating the environmental issues caused by construction. Sky Quarry, founded to solve the problem created by waste asphalt shingles, does so by utilizing technologies that facilitate the recycling of WAS and remediation of oil-saturated soils. The company says its Waste-to-Energy Solutions convert toxic waste into sustainable oil – recycling finite materials, decreasing landfill waste and reducing harmful emissions in the process. Sky Quarry estimates that with shingles comprised of 25% bitumen oil, plus 9 million tons of sands, aggregate, and other construction solids, this waste stream is the equivalent of dumping 20 million barrels of oil into landfills every year. As such, the company reports that almost all of its revenue from WAS-recovered oil goes straight to the bottom line – marking a key revenue stream beyond the $15-$60 per ton recycling fees paid by waste haulers. Sky Quarry’s Bitumen Extraction Technology feeds post-ground WAS into a mixing bin with the company’s proprietary solvent. WAS is ground into coarse granular chunks, and the nails are removed before the WAS and solvent mixture is agitated into a fluid slurry that dissolves the asphalt bitumen. The solvent makes solids sink while the separated bitumen and solvent mixture rises. The remaining fluid is heated to separate the solvent from the oil, and the clean bitumen flux is sent to storage tanks. The solvent is captured for reuse. Sky Quarry’s Offset Program – Recycling Asphalt On Behalf Of Homeowners Furthering its ability to assist in the industry’s WAS woes, Sky Quarry's Offset Program aims to lessen the footprint of re-roofing projects, ensure waste diversion in line with circular economy principles, while allowing homeowners to reduce their environmental footprint effortlessly. Simply put, Sky Quarry will recycle asphalt shingle waste on homeowners’ behalf. Homeowners can go to the company’s online store and buy the offset for any home in the U.S., with the fees being used to fund the recycling of the exact amount of tonnage that the homeowner is landfilling. “Sky Quarry is proud to be an innovator in the roofing industry – leading the charge for reducing the damage inflicted by depositing these shingles into landfills,” CEO David Sealock said. “This offset program is a unique and valuable way that homeowners can have a beneficial impact on the environment today. In the future, Sky Quarry intends to create a collection network for shingles that spans the US. But in the meantime this offset program is a unique solution as we build out our system.” A leader in the industry, Sky Quarry is proving its skill at bridging sustainability and technology, delivering both environmental and societal benefits to multiple industries. For more information on the company and its Offset Program, visit skyquarryoffsetstore.com. Featured photo by Brizmaker on Shutterstock. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. Disclosure: This is a paid advertisement and the post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. For additional information on the company and risk factors related to the company and its current offering please read the company's offering circular. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:45 AM Eastern Daylight Time

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