Day: 15 September 2021

Latest investment values high-growth supply chain technology leader at $500 million, provides capital for continued expansion in supply chain visibility and orchestration technology

PLEASANTON, Calif., Sept. 15, 2021 /PRNewswire/ — Blume Global, a leading provider of supply chain execution and visibility technology, today announced it has raised new equity from London-based Bridgepoint Group. This investment will further the company’s effort to bring its truly innovative and transformational supply chain digitization to the industry. This latest funding values Blume Global at $500 million, and Bridgepoint joins funds managed by affiliates of Apollo Global Management and EQT as equity investors in the company.

Launched in 2018, Blume Global provides a cloud-first, intelligent operating platform that orchestrates global supply chain processes through a digital map of the supply chain world for thousands of customers. By digitizing and transforming supply chains around the world, enabling shippers (buyers and suppliers), logistics service providers and carriers to work together on a common data driven platform to reduce waste and inefficiencies through visibility, automation and optimization.

In 2021, Blume Global has continued its high-growth trajectory, with more than 100% annual bookings growth YTD. The company has added more than 100 employees since January in the United States, Hong Kong, Europe and India. With this new equity capital, the company expects to make additional investments in R&D and go-to-market functions, positioning Blume to continue creating a truly transformative and sustainable platform for global supply chains.

“When we launched Blume Global in 2018, we saw an opportunity to build a cloud-based digital operating platform for global supply chains that leverages modern technologies and machine learning to optimize and automate operations,” said Pervinder Johar, CEO, Blume Global. “Since then, we have only seen increased demand for a supply chain transparency and orchestration platform like ours. We are thrilled by this new investment from Bridgepoint Group to help fund our continued growth.”

Rohit Dhote, Managing Director at Bridgepoint Credit, commented: “Solving supply chain complexity and providing visibility into the movement of goods has never been more business critical. Blume Global is at the forefront of enabling multi-modal supply chains through its leading, cloud-based order management, TMS and real-time visibility solutions. We’re excited to partner with Blume Global, its management team, Apollo and EQT to support the company through its next stage of growth.”

Blume Global’s mission to reduce $1 trillion of waste from global supply chains, lower carbon emissions and democratize technology for millions of small to medium businesses that make global supply chains work is resonating in the industry. There are more than 10,000 companies on Blume Global’s platform, including some of the largest shippers, ocean carriers, railroads and global freight forwarders.

Justin Korval, Partner at Apollo, said, “Blume Global provides companies with business-critical supply chain and logistics solutions playing an important role in creating a more sustainable global supply chain. We’re pleased to support Pervinder and the Blume Global team as they continue to scale the business and welcome additional blue-chip investors like Bridgepoint.”

In the transaction, J.P. Morgan Securities LLC served as the sole placement agent and Cooley LLP as legal counsel to Blume Global. Sidley Austin LLP was legal counsel to Bridgepoint, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was legal counsel to the Apollo Funds.

About Blume Global

The supply chain technology provider Blume Global aims to remove $1 trillion of waste from the global supply chain, making logistics processes more agile, dependable and sustainable with innovative logistics execution and visibility solutions. Blume’s digital platform goes beyond the transportation management status quo, empowering users to quickly predict the impact of disruptions and react in real time before minor issues become major problems. With one of the most extensive networks among logistics technology providers, Blume Global’s direct connectivity to the ocean, air, rail, parcel, LTL and truckload carriers combines with Blume Global’s solutions and 27 years of industry data to give customers the intelligence needed to maximize transportation spend, improve customer service and reduce carbon emissions.

About Bridgepoint

Bridgepoint Group PLC is the world’s leading quoted private assets growth investor focused on the middle-market with €27 billion AUM and a local presence in the US, Europe and China. We specialize in private equity and private credit and invest internationally in six principal sectors – Business Services, Consumer, Financial Services, Medtech & Pharma, Advanced Industrials and Tech & Media.

About Apollo

Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2021, Apollo had approximately $472 billion assets under management. To learn more, please visit www.apollo.com.

Contact:
Jon Ross
jon.ross@blumeglobal.com

RIYADH, Saudi Arabia, Sept. 15, 2021 /PRNewswire/ — In an appearance at MINExpo® International 2021, Las Vegas, Khalid Al-Mudaifer, Vice-Minister of Mining Affairs for the Saudi Ministry of Industry and Mineral Resources, outlined the unique opportunities for investors, explorers, miners and service providers to get into a dynamic sector that is at the heart of the Kingdom’s rapidly evolving industrial economy.

“Saudi Arabia is very much open for business. We have a demonstrable track record of success with our international partners, offering a best-in-class experience benchmarked against global standards,” said Al-Mudaifer. “Additionally, the government continues to support the development of mining through major infrastructure transformation, including roads, rail, ports and electricity networks. Now is the time for international organizations to be part of the mining sector’s exponential growth in the Kingdom.”

As well as hearing directly from the Vice-Minister, attendees were given deeper insight into the experiences of operating in the mining sector, with Willem Jacobs, Chief Operating Officer, Africa and Middle East, Barrick, saying: “We enjoy an excellent working relationship with the Saudi government, and we find the country easy to work in. The biggest challenge for a miner is access to infrastructure. Saudi is blessed with good infrastructure; it has excellent roads, airports, railway, and port structures. The country is well positioned for export markets to the east and west. We find it very easy to reach export markets from where we are.”

The Vice-Minister was joined by Musaed Al-Daood, Deputy Minister for Mining Development, as well as Hall Delano Roosevelt, President & CEO U.S.-Saudi Business Council.

In addition to informing MINExpo attendees of Saudi Arabia’s value proposition as a world-class mining destination, the delegation participated in high-level bilateral meetings with companies interested in doing business and investing in the Kingdom’s mining sector.

Finally, Vice-Minister Al-Mudaifer announced details of the inaugural Future Minerals Summit (FMS), the first-ever event to offer a “one-stop-shop” for investors, miners and other industry stakeholders interested in learning more about the mining potential of the Middle East, Central Asia, and North and East Africa.

Planned for January 11 to 13, 2022, in Riyadh, FMS will welcome attendees from around the world, including governments, investors, and mining majors and corporates. The Summit program is being built around four pillars:

• Defining a New Mining Hub – Showcasing opportunities across the Middle East, Central Asia, and North and East Africa
• Lands of Opportunity – Outlining partnership opportunities across integrated value chains
• Reimagining Mining – Shining a spotlight on innovations that will support mining in the future
• Mining’s Contribution to Society – Highlighting the industry’s vital role in producing the inputs needed to create a circular carbon future, as well as attracting the workforce of the future

In addition to the Ministry of Industry and Mineral Resources, FMS has been endorsed by the Ministry of Investment, Public Investment Fund and the Ministry of Foreign Affairs.

For more information, visit www.futuremineralssummit.com.

Mining Ecosystem and Infrastructure

Saudi Vision 2030 singled out mining to grow to become the third pillar of the country’s industrial growth, which led to the development of a comprehensive Mining and Mining Industries Development Strategy, which has identified nearly 40 initiatives, most of which already are up and running.

Saudi Arabia’s legal and regulatory framework for mining is being transformed and is now designed to ensure efficient and transparent licensing; simplify doing business; and support a dynamic, sustainable mining industry.

• Based on global best practice, a completely revised Mining Investment Law was issued late last year, and now supports a clear and transparent process for license applications and approvals
• The new “Ta-adin” web-based platform offers a single point of access for mining license applications, issuance and information
• New incentives have been implemented, including the provision of co-funding up to 75 percent of investment, a five-year royalty holiday for miners, discounts on royalties for local downstream production and support for Saudization costs

The Kingdom already has attracted significant amounts of domestic and international investment in mining commodities like gold, phosphate and aluminum.

To a degree, this prior success has been based on a variety of “baked in” advantages for prospective investors, such as:

• High domestic demand for mineral outputs
• Geographic placement in a key part of the world and proximity to end-user markets in major geographies, including MENA, Asia and Europe
• Safety and security, as ranked by the World Economic Forum’s security index
• Continuous progress in “ease of doing business,” with the World Bank placing Saudi Arabia in the top 10 in terms of an improving business climate
• Strong infrastructure, including roads, rail, ports and electricity networks, and significant investments in water utilization and infrastructure

Geology

The Arabian Shield is estimated to contain $1.3 trillion worth of potential mineral value, across numerous commodities, many of which are critical to the technologies that will drive a sustainable future, and which are in high demand.

The recently launched National Geological Database provides online access to 80 years’ worth of national records of geological, geophysical and geochemical information, including thousands of detailed reports on mining targets and prospects.

Also recently announced, a major Regional Geological Survey Program (supported with government investment of more than half a trillion dollars) is now under way and will conduct geophysical and geochemical surveys and create detailed mapping of nearly 700,000 square kilometers of the Arabian Shield.

Sustainability

The Kingdom has launched the Mining Sector Sustainability Assurance Initiative, which aims to create a sector that is focused on balancing economic value and environmental protection.

The country’s new mining law ensures that sustainable practices are a foremost priority for new mining operators as they apply for licenses.

TWEETS

BEIJING, Sept. 15, 2021 /PRNewswire/ — The exhibition hall for intangible cultural heritage in Suide, a county in northwest China’s Shaanxi Province, serves as an important carrier for culture created by ancestors and passed down generation after generation.

The exhibition hall, covering 5,123 square meters, houses three state-level intangible cultural heritage items and eight provincial-level intangible cultural heritage items. Chinese President Xi Jinping visited the exhibition hall on 14^th Sep.

Stone carving has a history of more than 2,000 years in Suide. The stone carving skill is an art that serves as a root of the people in Suide and by which the people in Suide live. It manifests in the remarkable talents and artistic creativity of the Suide people.

Suimi suona, a part of the folk art — Shaanbei suona, reflects the way of living and culture psychology of people in northern Shaanxi. It has been a part of their life for generations.

Yangko, popular in northern Shaanxi, is a traditional dance that enjoys wide popularity. It is a branch of traditional dance of the Han people. The yangko in northern Shaanxi mirrors honesty and optimism among the people of northern Shaanxi. It has a great historical and cultural value.

To well protect, inherit and make good use of these precious treasures is a shared responsibility, and is of vital importance to the continuity of human civilization and the sustainable development of the world.

The link: https://youtu.be/RYs0O9MGUFY

Video – https://www.youtube.com/watch?v=RYs0O9MGUFY

BAODING, China, Sept. 15, 2021 /PRNewswire/ — On August 27, 2021, GWM first announced HAVAL H6S, the incredible new model, at the global celebration ceremony for the 10th anniversary of HAVAL H6. Then, HAVAL H6S debuted at Chengdu Motor Show two days later.

As the advanced version of HAVAL H6, which has long been China’s No.1 best-selling SUV, the performance of HAVAL H6S has attracted much attention. Focusing on customers’ new needs, GWM developed the first coupe SUV for the HAVAL H6 series on the basis of the L.E.M.O.N. platform and Coffee Intelligence platform.

Based on HAVAL H6’s technical accumulation over the past ten years and GWM’s “customer-centered” philosophy, HAVAL H6S not only inherits GWM’s innovation in interior and exterior design, but also has been upgraded in the smart cockpit, power performance and control system.

HAVAL H6S is equipped with Coffee Intelligent’s cockpit system GC-OS. With the help of the super-computing power of high-end vehicle-mounted chips, it realizes multi-dimensional breakthroughs in AI, interaction and ecosystem, and brings users a new experience of all-scenario intelligent driving. At the same time, in terms of power performance, it offers a 2.0T gasoline engine and a L.E.M.O.N. DHT system for selection. With the L.E.M.O.N. DHT system, HAVAL H6S can achieve excellent performance of maximum power of 179kW, maximum torque of 530N·m, 100 km acceleration in 7.5 seconds and comprehensive fuel consumption of 4.9L. This marks the brand of HAVAL entering a new era of hybrid power.

In terms of the control system, HAVAL H6S provides seven driving modes, including race track, sport, economical, snow, sand, off-road and standard. This empowers it with the control and driving pleasure of luxury vehicles, and can meet users’ needs under different driving habits and conditions.

Additionally, the HAVAL H6S has many highlights in both interior and exterior design. Its interior is mainly black, including carbon fiber decorative panels and bright yellow stitching, a large suspended screen, multifunctional steering wheel with paddle shifters, shift knobs and other configurations, creating a sufficient sense of technology and movement. These designs can meet the diversified demand of users. For exterior design, HAVAL H6S adopts the design concept of black shark aesthetics. With a shark pectoral fin-shaped front face and shark eye-like LED automatic headlights, these designs create a visual effect as mighty as a shark. The fastback style body and the rear end of a suspended rear wing design also make the SUV look youthful and sporty.

In the future, HAVAL H6S is expected to be sold in various markets worldwide, enriching product lineup of HAVAL in the international market, and providing high-quality and diversified technological travel experience for global users with extreme product strength, intelligence and new energy.

Photo – https://mma.prnewswire.com/media/1626269/image.jpg