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Tuesday, August 23, 2022

How Indiana Is Charging Ahead In EV And AV Technology

“Drivers, start your engines!” Racing fans are familiar with the famous call that marks the beginning of the annual Indianapolis 500. Indiana has a long history in the racing and automotive worlds; Indy 500 drivers have been starting their engines since 1911 and, up until the Great Depression, the state was second only to Michigan in auto manufacturing. Fast forward to the present, and Indiana is charting a new history as a dynamic player in the future of mobility and leading the way in the development of electric vehicles and autonomous driving.

David Roberts, EVP of Entrepreneurship and Innovation at the Indiana Economic Development Corporation (IEDC), points to the development of the nonprofit Battery Innovation Center (BIC) in the town of Newberry as the foundational block for Indiana’s rapid ascension in the EV sector. Built in 2013, the facility—more than 30,000 square feet—draws workers from traditional manufacturers such as Valvoline, researchers from nearby top-tier engineering universities such as Purdue University and the Rose-Hulman Institute of Technology. The BIC is also collaborating with startups such as Ateios—which recently moved its headquarters from California to Indiana—to advance battery technology. “The BIC offers a full suite of services from battery-cell build and cell testing to certification,” Roberts says. “[It] has attracted a lot of battery development business into the state. It also lets that team see a lot of technology trends.” That cooperation is paying off: In May, Samsung SDI and Stellantis announced that they will spend over $2.5 billion to build a battery factory in Kokomo that is expected to create 1,400 jobs with the goal of selling five million electronic vehicles by 2030.

Small business seminar lined up

The 2022 South Arkansas Small Business Development Conference will be held via Zoom and in-person from 8:30 a.m. to 2 p.m. Sept. 1.

Up to 40 people will participate in person at the Pine Bluff Main Library, 600 S. Main St., and in the Fordyce Civic Center in Fordyce, according to a news release.

The conference is free but registration is encouraged. Social distancing, temperature checks, masks, and release forms will be required at in-person events.

Funding is provided by the Arkansas Small Business and Technology Development Center (ASBTDC), U.S. Department of Agriculture/Rural Development, U.S. Small Business Administration, and Arkansas Human Development Corp., according to the release.

The conference will bring together approximately 20 agencies focused on equipping existing and aspiring entrepreneurs with the resources to start and grow their businesses.

Participants are also invited to join the group at 8:30 a.m. for a "Breakfast with the Lenders Roundtable," where attendees will network with local, regional and statewide lenders.

The roundtable will be facilitated by Herb Lawrence, lender relations specialist, Arkansas District Office, U.S. Small Business Administration.

Bill Walker, president and chief executive officer for Premier Funeral Home in Little Rock and Chicken King Restaurants in Central Arkansas and a serial entrepreneur, will deliver the luncheon address.

Crypto Investor Claims Rs 12 Crore Stolen By Blockchain Thief

Bitcoin and other cryptocurrencies were missing from the investor's wallet.

A crypto investor has claimed that an amount of $1.5 million was stolen from his wealth and ended up in an account with a cryptocurrency exchange in Manhattan, according to a report in New York Post. The investor wants to know the reason behind this, the outlet further said.

As per a court filing in Manhattan, the investor named Niall Leonard discovered in May that Bitcoin and added cryptocurrencies were absent from his digital wallets. Mr Leonard, who lives in Qatar, immediately hired British financial intelligence firm AnotherDay, which traced the funds to a Paxful Holdings account in Koreatown, reported US Time Today.

Without a court order, the Koreatown firm refused to disclose the identity of the account holder. Mr Leonard wants a judge to order Paxful to reveal the identity of the person who stole the funds.

A spokesperson from the firm Paxful told The Post that, the company is "working hand-in-hand with Niall Leonard's team" and is "doing everything in our power to provide transparency" while adhering to US law.

Six weeks in, Virginia's first casino has exceeded expectations

BRISTOL, Va. – Citizens of Alaska, where are you?

The Bristol Casino, future home of Hard Rock, celebrated six weeks of operation Friday and during that time has documented guests from 49 states. Alaska is the lone holdout. Virginia’s first casino has attracted thousands of visitors to the former Bristol Mall and operators admit the response has far exceeded their expectations.

“We couldn’t have asked for more. We knew it would be a positive opening,” Hard Rock Bristol President Allie Evangelista said last week. “We knew that the community was excited about it and the team members were excited about opening the property, but I don’t think I could have anticipated the excitement that came with the feedback we received … The first six weeks have been a dream come true and – since it’s only a temporary property – I can only anticipate a buildup from here on until we open the permanent [casino] in 2024.”

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That success is clearly reflected in the initial financial results – both preliminary and the July figures released last week by the Virginia Lottery, which oversees casino gaming in Virginia.

The Bristol Casino generated $11.71 million in adjusted gross revenues from gaming during its first partial month of operation, according to the report. $10.23 million came from its 870 slot machines and $1.48 million from its 21 table games. Total play generated in $2.1 million in taxes, including over $703,000 that will be divided among local governments in Southwest Virginia.

Last month, lottery officials revealed the Bristol Casino generated $3.74 million in adjusted gross revenues in its first week -- through July 14 – meaning the casino generated nearly $8 million in adjusted revenues during the final 17 days of July.