AIRLINES AND AIRPORTS,INDUSTRY OUTLOOK
CNX and New Frontier | November 08, 2022
CNX Resources Corporation (NYSE: CNX) and New Frontier Aerospace, Inc. (NFA) announced the companies have entered into an agreement, facilitated by Anew Climate, LLC (Anew Climate), to utilize abated methane emissions to fuel net carbon neutral ground and flight tests of NFA's hypersonic vertical takeoff and landing aircraft.
NFA is developing next generation aircraft that can deliver passengers and cargo anywhere on the planet ten times faster than today's jets, while CNX is a leader in capturing and processing methane that would have otherwise vented into the atmosphere, resulting in ultra-low carbon intensity natural gas. The two companies are working towards a path to next generation air travel that is carbon neutral well before the airline industry's 2050 target date. This vision endeavors to bring the world closer together with cargo and passenger flights to any destination on Earth in less than two hours while significantly improving the environmental impact of today's airliners.
"Like our recently announced partnerships with Pittsburgh International Airport and Newlight Technologies, this collaboration further demonstrates CNX's unique combination of assets, innovative technologies, and proven operational expertise which is helping to lead the sustainable energy revolution.Through this agreement, we are not only abating methane emissions from being emitted to the atmosphere, but we are also transforming the way people will travel in the future in a faster, more environmentally sustainable manner."
-CNX President of New Technologies Ravi Srivastava
CNX's carbon negative methane will be sold to New Frontier Aerospace at a premium to conventional natural gas reflecting its low carbon intensity value. The monetary benefit CNX is receiving from NFA for supplying this methane will be used to expand CNX's methane capture program and create more climate benefit in the future. The methane captured by CNX has a carbon intensity comparable to that of environmental attributes from dairy manure-derived renewable natural gas, one of the lowest negative carbon intensity gas resources available.
NFA CEO Bill Bruner said, This agreement is a first step in moving from slow, subsonic jets that dump a billion tonnes of CO2 into the atmosphere annually to a fleet of aircraft that are ten times faster with a net carbon negative fuel source. NFA's advanced propulsion, materials, aerothermal, and autonomous flight technologies will enable safe and affordable high-speed travel for everyone while reducing the airline industry's carbon impact to zero.
The agreement between CNX and NFA was enabled by Anew Climate, the leading North American marketer of low carbon intensity renewable fuels and provider of comprehensive climate solutions.
About CNX Resources
CNX Resources Corporation (NYSE: CNX) is unique. We are a premier, low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 158-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2021, CNX had 9.63 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.
About New Frontier, Inc. ("NFA")
With offices in Seattle, San Francisco, and Dayton, NFA builds renewably fueled hypersonic vertical landing aircraft so people and cargo can travel anywhere on the planet faster and cleaner than jets. NFA is supported by National Security Innovation Capital, a Department of Defense program that provides funding to early-stage hardware startups commercializing dual-use technologies critical to national security and economic competitiveness. Additional information is available at www.nfaero.com.
About Anew Climate, LLC ("Anew" or "Anew Climate")
Anew is accelerating the fight against climate change by enabling companies and organizations to align their goals for conservation and impact with actionable next steps. With a comprehensive solutions portfolio that includes advisory services, carbon credits, renewable natural gas, renewable energy credits, EV credits, plastic credits, and emission reduction credits, we lower barriers to participation in environmental markets for clients across the private and public sectors. As a leading marketer and originator of environmental products, we bring together strategic finance, regulatory expertise, scientific knowledge, and impact focus to make it possible for businesses to thrive while building a sustainable future. Anew is majority owned by TPG Rise, TPG's global impact investing platform, and emerged from the February 2022 combination of durational industry leaders Element Markets, LLC and Blue Source, LLC. The company has offices in the U.S., Canada, and Europe, and an environmental commodities portfolio that extends across five continents. Additional information is available at www.anewclimate.com.
TRAVEL TECHNOLOGY,FEATURES AND ADVICE
Airwallex | December 16, 2022
Global fintech Airwallex is pleased to announce that it has been chosen by TripActions as the partner of choice for its global cross-border payments and FX needs to support TripActions Liquid, its corporate card and expense management solution.
With support from Airwallex’s global payments and banking infrastructure, TripActions can further streamline travel and expense management experiences for its customers across 130 markets by providing a seamless, cost-efficient way to convert and pay out funds in over 45 currencies.
“Identifying faster, easier, and safer ways to move and manage money is key for businesses that want to grow at scale. At Airwallex, this is exactly the pain point that we are building a solution for, TripActions is the modern day, all-in-one solution for corporate travel and expense, and we are pleased that we are able to support them and their ambition as they look to grow and expand their business globally.”
-Ravi Adusumilli, Global Head of Partnerships and General Manager, Americas at Airwallex.
TripActions aims to make travel and expense easy, and Airwallex’s vision to deliver better experiences and tech solutions aligns exactly with that goal, said Michael Sindicich, EVP and General Manager of TripActions Liquid. With Airwallex, we are now able to reimburse our customers’ international employees in their local currencies instantly or on the same day in many countries, and we’re excited to continue working together as we bring more innovative features to businesses everywhere.
Founded in Melbourne, Australia in 2015, Airwallex reported significant business growth in the last year, with revenues more than doubling year-over-year. In the US, Airwallex has also built steady traction, having experienced rapid customer growth, and having won “Startup of the Year” in this year’s US Fintech Awards. Today, the business operates with a still-growing team of 1,300 employees in 19 locations across Asia-Pacific, Europe, and North America.
Airwallex is the leading financial technology platform for modern businesses growing beyond borders. With one of the world’s most powerful payments and banking infrastructure, our technology empowers businesses of all sizes to accept payments, move money globally, and simplify their financial operations in a single platform. Established in 2015 in Melbourne, Australia, our purpose is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world. Today, Airwallex has a global footprint across Asia-Pacific, Europe, and North America.
DESTINATION AND TOURISM,HOSPITALITY TRENDS
Selina Hospitality PLC | November 04, 2022
Selina Hospitality PLC. (“Selina”; NASDAQ: SLNA), the fast-growing lifestyle and experiential hospitality company targeting millennial and Gen Z travelers has formed a strategic partnership with Mantra, a global retreat operator, to curate wellness retreats throughout Selina’s ecosystem of 163 locations across 25 countries and six contents. The expansion into the retreat market is a first for Selina, and will create a separate entity focused solely on building these enriching wellness experiences. Per Global Wellness Institute, the wellness economy is projected to reach nearly $7.0 trillion in 2025, and the Mantra partnership allows Selina to tap into this growing business segment all while maximizing synergies across distribution and operating expenses.Mantra is known for its transformative programs that create unique experiences by bringing together the best wellness instructors of yoga, meditation, and movement with a culinary experience, live music & day trips to deliver a full mind, body, soul retreat. Mantra will be curating local wellness talent (teacher, chefs, musicians, etc.) and developing customized programs across Selina's global and diversified hotel system, be it deep in the desert, the jungle or any number of Selina’s cool, urban locations.
Selina is proud to champion a brand like Mantra and to be at the forefront of this evolution in global travel and retreat experiences. We see our partnership as an incredible opportunity to reach new customers and to enter the wellness market by providing leaders, teachers, and coaches with beautiful spaces to bring their unique skills and experiences to people around the world” said Selina VP Strategy, Steven O’Hayon.
Prior to joining forces with Selina, Mantra had put together over 50 retreats, corporate offsites & festivals since its founding in June 2020. These events, which hosted over 5,000 people, took place in Israel, Greece, Cyprus, Egypt & Sri Lanka, and now through this partnership will expand out to even more places worldwide.
“Partnering with a company that upholds such similar values and quality standards as Mantra is a dream for us. Having the support of Selina at this stage allows us to tap into their vast global reach and advanced systems to scale our presence and grow our community,”
-Doron Domb, Mantra Founder & CEO.
About Selina Hospitality PLC.
Selina (NASDAQ: SLNA) is one of the world's largest hospitality brands built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Custom-built for today's nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Founded in 2014, each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations around the world – from urban cities to remote beaches and jungles. Selina's portfolio includes 163 open or secured properties across 25 countries and six continents. To learn more, visit www.selina.com or follow Selina o Twitter Instagram, Facebook or YouTube.