Category: GLOBE-NEWSWIRE

Basseterre, Dec. 07, 2022 (GLOBE NEWSWIRE) — Saint Kitts and Nevis is boosting its local hospitality and tourism sector with investments received through its citizenship by investment programme.

This is according to the recently elected Prime Minister of the twin-island federation who concluded a four-day visit to Dubai, from 29 November to 3 December 2022.

Prime Minister Terrance Drew was in the state to engage with important stakeholders including high-level government officials, international investors, government-approved agents and promoters, who play a vital role in promoting and supporting the country’s recently upgraded citizenship by investment programme.

With the country’s citizenship by investment programme undergoing a facelift, Prime Minister Drew said the changes to the programme were not just superficial but would ensure that the programme achieved what it was designed for – strengthening St Kitts and Nevis’ economy.

Traditionally, the economy of the two-island state has depended on the growing and processing of sugar cane, but the impact of decreasing world prices on this commodity over the last few decades has moved the government’s attention to tourism, export-oriented manufacturing, and offshore banking.

Tourism is the mainstay of St Kitts and Nevis’ economy, with the United States, Canada and Trinidad and Tobago being some of its trop trade partners. The travel and tourism sector accounted for one-tenth of the gross domestic product (GPD) in St Kitts and Nevis in 2021 and it is estimated that roughly 200,000 tourists visited the islands in 2009.

With a revamped citizenship by investment programme that will be underpinned by better legislative and administrative oversight, Prime Minister Drew said he was confident that the programme would have even more impact on the country’s tourism sector.

The new cabinet aims to ensure that the destination continues to make strides towards the full resumption of tourism activity, including the return of airlift and cruise ship arrivals, with the ultimate goal of improving the quality of life of the people of the Federation.

St Kitts and Nevis is committed to enhancing its tourism presence and strengthening the economic impact of the tourism sector.

Recently during November this year, Wonder of the Seas, the world’s largest cruise ship, made its inaugural call to Port Zante in St Kitts and Nevis.  The ship from the Royal Caribbean Group brought along nearly 6,500 guests and over 2,000 crew members.  This cruise call has also been the fifth inaugural cruise call to St Kitts and Nevis since October 2022.

This year, on November 26, a superyacht named Evrima made its inaugural visit to the island sporting the finest amenities and affluent guests. Evrima accommodates 298 guests and is the first of the yachts to be introduced for the new Ritz-Carlton Yacht Collection line. This event maintained St Kitts and Nevis’ reputation as an exclusive destination.

According to the CIA World Factbook, tourists, mainly Americans, come to the island via cruise ships via Port Zante in Basseterre, air travel via Robert L Bradshaw International Airport, and the private airport and private dock for private yachts. St Kitts and Nevis is also home to Brimstone Hill Fortress, a UNESCO world heritage site.

The country’s citizenship by investment programme has been instrumental in bringing globally renowned brands such as the Park Hyatt Hotel that has recently been launched in Christophe Harbour in Banana Bay. The country will be looking to use its revamped citizenship by investment programme to develop its hospitality sector further which is a major drawcard not just for tourists, but investors looking for legitimate offshore real estate products to buy into.

Part of the change process has seen consultations with various stakeholders in the St Kitts and Nevis CBI unit who will closely now monitor and ensure that real estate projects funded by the CBI programme are completed.  To this end, the government is also seeking out reliable and trustworthy developers who are ready to put capital behind creative and strong projects that will further enhance St Kitts and Nevis citizenship by investment offering.

St Kitts and Nevis citizenship by investment programme stands as the oldest and one of the most trusted programmes of its kind. Since 1984, it has allowed investors and their families to legally obtain citizenship of one of the Caribbean’s most idyllic locations.

St Kitts and Nevis’ citizenship by investment programme has been pivotal in developing other important sectors such as healthcare, business, and education in the nation. With the help of the tourism industry and the citizenship by investment programme, the country has witnessed socio-economic development at a significant pace. Funds generated by the citizenship by investment programme will continue to aid the country in paving the path of development efficiently. Spending on infrastructure has made the country unrecognisable from only 20 years ago – for example there is a thriving cruise ship port complex, and new roads have been built to take pressure off traffic in Basseterre.

Prime Minister Drew was accompanied by a delegation including Marsha Henderson, Minister of Tourism, Attorney-General, Garth Wilkin; Cabinet Secretary Dr Marcus Natta; Sylvester Anthony and Veira Galloway.

PR St Kitts and Nevis

Government of St. Kitts and Nevis

mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8709894

Basseterre, Dec. 07, 2022 (GLOBE NEWSWIRE) — Saint Kitts and Nevis is boosting its local hospitality and tourism sector with investments received through its citizenship by investment programme.

This is according to the recently elected Prime Minister of the twin-island federation who concluded a four-day visit to Dubai, from 29 November to 3 December 2022.

Prime Minister Terrance Drew was in the state to engage with important stakeholders including high-level government officials, international investors, government-approved agents and promoters, who play a vital role in promoting and supporting the country’s recently upgraded citizenship by investment programme.

With the country’s citizenship by investment programme undergoing a facelift, Prime Minister Drew said the changes to the programme were not just superficial but would ensure that the programme achieved what it was designed for – strengthening St Kitts and Nevis’ economy.

Traditionally, the economy of the two-island state has depended on the growing and processing of sugar cane, but the impact of decreasing world prices on this commodity over the last few decades has moved the government’s attention to tourism, export-oriented manufacturing, and offshore banking.

Tourism is the mainstay of St Kitts and Nevis’ economy, with the United States, Canada and Trinidad and Tobago being some of its trop trade partners. The travel and tourism sector accounted for one-tenth of the gross domestic product (GPD) in St Kitts and Nevis in 2021 and it is estimated that roughly 200,000 tourists visited the islands in 2009.

With a revamped citizenship by investment programme that will be underpinned by better legislative and administrative oversight, Prime Minister Drew said he was confident that the programme would have even more impact on the country’s tourism sector.

The new cabinet aims to ensure that the destination continues to make strides towards the full resumption of tourism activity, including the return of airlift and cruise ship arrivals, with the ultimate goal of improving the quality of life of the people of the Federation.

St Kitts and Nevis is committed to enhancing its tourism presence and strengthening the economic impact of the tourism sector.

Recently during November this year, Wonder of the Seas, the world’s largest cruise ship, made its inaugural call to Port Zante in St Kitts and Nevis.  The ship from the Royal Caribbean Group brought along nearly 6,500 guests and over 2,000 crew members.  This cruise call has also been the fifth inaugural cruise call to St Kitts and Nevis since October 2022.

This year, on November 26, a superyacht named Evrima made its inaugural visit to the island sporting the finest amenities and affluent guests. Evrima accommodates 298 guests and is the first of the yachts to be introduced for the new Ritz-Carlton Yacht Collection line. This event maintained St Kitts and Nevis’ reputation as an exclusive destination.

According to the CIA World Factbook, tourists, mainly Americans, come to the island via cruise ships via Port Zante in Basseterre, air travel via Robert L Bradshaw International Airport, and the private airport and private dock for private yachts. St Kitts and Nevis is also home to Brimstone Hill Fortress, a UNESCO world heritage site.

The country’s citizenship by investment programme has been instrumental in bringing globally renowned brands such as the Park Hyatt Hotel that has recently been launched in Christophe Harbour in Banana Bay. The country will be looking to use its revamped citizenship by investment programme to develop its hospitality sector further which is a major drawcard not just for tourists, but investors looking for legitimate offshore real estate products to buy into.

Part of the change process has seen consultations with various stakeholders in the St Kitts and Nevis CBI unit who will closely now monitor and ensure that real estate projects funded by the CBI programme are completed.  To this end, the government is also seeking out reliable and trustworthy developers who are ready to put capital behind creative and strong projects that will further enhance St Kitts and Nevis citizenship by investment offering.

St Kitts and Nevis citizenship by investment programme stands as the oldest and one of the most trusted programmes of its kind. Since 1984, it has allowed investors and their families to legally obtain citizenship of one of the Caribbean’s most idyllic locations.

St Kitts and Nevis’ citizenship by investment programme has been pivotal in developing other important sectors such as healthcare, business, and education in the nation. With the help of the tourism industry and the citizenship by investment programme, the country has witnessed socio-economic development at a significant pace. Funds generated by the citizenship by investment programme will continue to aid the country in paving the path of development efficiently. Spending on infrastructure has made the country unrecognisable from only 20 years ago – for example there is a thriving cruise ship port complex, and new roads have been built to take pressure off traffic in Basseterre.

Prime Minister Drew was accompanied by a delegation including Marsha Henderson, Minister of Tourism, Attorney-General, Garth Wilkin; Cabinet Secretary Dr Marcus Natta; Sylvester Anthony and Veira Galloway.

PR St Kitts and Nevis

Government of St. Kitts and Nevis

mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8709894

QUEBEC CITY, Dec. 07, 2022 (GLOBE NEWSWIRE) — LeddarTech^®, a global leader in providing the most flexible, robust and accurate ADAS and AD software technology, is pleased to announce the launch of the LeddarVision Front-View-E (LVF-E) and LeddarVision Front-View-H (LVF-H), two distinct comprehensive low-level fusion and perception software stacks that optimally combine sensor modalities for Level 2/2+ ADAS applications achieving a 5* NCAP 2025/GSR 2022 rating.

LeddarTech addresses the challenges Tier 1-2 suppliers and OEMs struggle with when developing Level 2/2+ ADAS applications, such as solving safety issues and finding scalable fusion and perception software that offers high performance at a low cost. The LeddarVision Front-View (LVF) family of automotive software products, developed by LeddarTech, addresses these challenges.

LVF-E (LeddarVision Front-Entry): Created for customers seeking to develop entry-level ADAS safety and highway assistance L2/L2+ applications, LVF-E is a comprehensive front-view fusion and perception stack for entry-level ADAS L2/L2+ highway assist and 5-star NCAP 2025/GSR 2022. LeddarTech’s low-level fusion (LLF) technology pushes the performance envelope, doubling the effective range of the sensors and enabling for the first time a solution with only a single 1.2-megapixel 120-degree front camera and two short-range front corner radars in a 1V2R configuration. Low-cost sensing, together with efficient implementation on the TDA4L platform, achieves the lowest system cost for L2/L2+ entry-level ADAS. B-sample is planned for Q2 2023, targeting vehicle SOP in 2025/6.

LVF-H (LeddarVision Front-High): The premium companion fusion and perception stack in the front-view product family. With sensor configuration extended to 1V5R based on a single 3-megapixel 120-degree camera, single front medium-range radar and four short-range corner radars, the stack extends the perception support to highway assist applications, including 160 km/h adaptive cruise control, 200-meter range and semi-automated lane change. It also enhances the NCAP 2025 support for overtaking/ reverse/dooring scenarios. Furthermore, with efficient implementation on the TDA4L platform and a single Hailo-8 deep-learning accelerator, low-cost sensing achieves economic front-view L2/L2+ premium ADAS. B-sample is planned for Q3 2023, targeting vehicle SOP in 2026.

The LeddarVision Front-View (LVF) family of products is designed to meet the needs of their customers:

High-Performance and Cost-Effective

• LeddarVision’s low-level fusion (LLF) technology pushes the performance envelope, doubling the effective range of the sensors.
• The products’ lowest-cost sensing feature and efficient implementation on the TDA4L platform achieve the lowest system costs.
• Superior accuracy in object separation and longitudinal position measurement on highways enable higher-performing adaptive cruise control implementation.

Safety

• LVF products address 5* NCAP 2025/GSR 2022 safety applications.
• Include a built-in redundancy feature to accommodate sensor failures, degradations and conflicts.
• Provide an increased safety feature due to superior accuracy in object separation and longitudinal position measurement.

Flexible and Scalable

• A comprehensive front-view fusion and perception stack that supports entry-level to premium ADAS highway assist Level 2/2+ applications.

Interested customers can contact LeddarTech for “A” samples of the LVF-E and LVF-H products.

“I am excited to announce our newest sensor fusion and perception products to support entry-level to premium ADAS highway assist Level 2/2+ applications,” stated Mr. Charles Boulanger, CEO of LeddarTech. “The market’s need for a high-performance sensor fusion and perception product while also being cost-effective, flexible and scalable and has never been greater, and our LVF family of products addresses that need,” Mr. Boulanger continued. “Our mission at LeddarTech is to improve safety and the quality of life by enabling ADAS and AD applications, and this is accomplished with the release of these two products that achieve 5* NCAP 2025/GSR 2022 ratings.” Mr. Boulanger concluded: “I look forward to announcing additional products in 2023 that will continue to meet the needs of the industry and improve the quality of people’s lives.”

LeddarTech’s LeddarVision LVF-E and LVF-H software products will be highlighted at CES 2023, January 5-8 in Las Vegas, within LeddarTech’s booth # 5475, LVCC West Hall.

About LeddarTech

LeddarTech, a global software company founded in 2007, develops and provides comprehensive perception solutions that enable the deployment of ADAS and autonomous driving applications. LeddarTech’s automotive-grade software applies AI and computer vision algorithms to generate highly accurate 3D models of the environment, allowing for better decision making and safer navigation. This high-performance, scalable, cost-effective technology is leveraged by OEMs and Tier 1-2 suppliers for the efficient implementation of automotive and off-road vehicle solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 140 patents granted or applied for that enhance ADAS and AD capabilities. Reliable perception is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to become the most widely adopted sensor fusion and perception software solution.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook and YouTube.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc.
Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@leddartech.com

Investor relations contact and website: InvestorRelations@leddartech.com
https://investors.leddartech.com/

Leddar, LeddarTech, LeddarSteer, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, LeddarEcho, VAYADrive, VayaVision, XLRator and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

GlobeNewswire Distribution ID 8708692

Leading the carbon fiber industry on a global scale

St. Louis, Missouri, USA, Dec. 06, 2022 (GLOBE NEWSWIRE) — Zoltek Corporation, the largest global manufacturer of industrial grade carbon fiber, has recently celebrated the 80^th birthday of its founder, Zsolt Rumy.

Born in December 1942 in Budapest, Hungary, Mr. Rumy was a carbon fiber industry pioneer that ultimately changed the carbon fiber world.  He created the first industrial-grade carbon fiber made to compete against other common building materials, and created Zoltek Corporation to drive the commercialization of carbon fibers.

Mr. Rumy fled Soviet communism after the Hungarian Revolution in 1956, and arrived in the US as a 14-year old war refugee through the International Red Cross and Catholic Charities.   He later graduated with a chemical engineering degree from the University of Minnesota, accepted a position with Monsanto Company and moved to St. Louis, Missouri in 1966. After several years of corporate sales and engineering jobs in the chemicals industry, he started his own distribution business in 1975.   After years of selling carbon and graphite products, he plunged into carbon fiber manufacturing in 1988 with the acquisition of Stackpole Fibers in Lowell, Massachusetts.

His vision of a low-cost carbon fiber began on a pilot line in St. Louis, MO, and later became realized after acquiring an acrylic fiber factory, Magyar Viscosa, back in his native Hungary.  He led a team of engineers that were able to convert this acrylic fiber factory to the world’s first low-cost carbon fiber factory.  Zoltek repeated this feat by acquiring a second acrylic fiber factory in Mexico, and the rest is history.

In 2014, Zoltek was acquired by Toray Industries of Japan, who at the time was the world’s largest aerospace carbon fiber producer.  With the support of the Toray Group, Zoltek has now grown to the largest carbon fiber manufacturer in the world, with more than 30,000 MT of annual capacity.

“Zsolt is a true pioneer who lived the American dream.  He built a company and changed the carbon fiber industry forever.  We are all honored to be part of his journey and grateful for his leadership and friendship”, EVP of Sales & Marketing Dave Purcell. “Now it’s our job to carry his vision forward and bring our low-cost carbon fiber to new applications around the world,” he added.

“The Will To Do, The Soul Dare” is an autobiography that details Zsolt’s extraordinary life experiences and his visionary spirit and courage that revolutionized the carbon fiber industry.  Zsolt’s book is available in major book stores and Amazon.  You may also request a free copy of Zsolt’s book (while supplies last) by sending your request to jschmidt@twinspringsinv.com.

Zsolt Rumy and Dave Purcell are current board members of Zoltek Corporation.

About Zoltek: Zoltek Corporation is the most trusted manufacturer of cost-efficient and customer-centric industrial grade carbon fiber used for automotive parts, wind turbine blades, thermoplastic compounding, marine infrastructure, and many more. In 2014, Zoltek joined the Toray Group (Japan) which has advanced the company’s technology and strengthened the technical and financial resources and positioned the company for further growth as the most reliable global leader of carbon fiber.

For more information, you may visit www.zoltek.com or follow us on any of our social media channels including www.linkedin.com/company/zoltek/ and https://www.facebook.com/ZoltekCorp. For more information about Toray Group, you may visit www.toray.com 

Attachment

• Zsolt Rumy

Jen Olson

Zoltek

jennifer.olson.3g@zoltek.com

GlobeNewswire Distribution ID 8709508