Latest news with #PACEAward
Yahoo
22-05-2025
- Business
- Yahoo
PACENation Announces 2025 PACE Champions and PACESetters of the Year Awards
Seventeen leaders were recognized for their efforts to strengthen the PACE marketplace for local communities and property owners NEW YORK, May 22, 2025 /PRNewswire/ -- PACENation, the national membership association for PACE (Property Assessed Clean Energy) financing, announced at the 2025 PACENation Summit this year's PACE Champions of the Year and PACESetter Award recipients. Awardees were honored for their distinguished leadership in several categories, including policy innovation, program design and implementation, innovative deals of the year, and for promoting diversity, equity, and inclusion in the PACE marketplace. "The PACE Award winners' accomplishments have helped accelerate the industry from an $8b market six years ago, to a $20b market today," said Mary Luévano, PACENation's Executive Director. "Their commitment means that hundreds of thousands of property owners are able to finance improvements that make their buildings more efficient, more cost effective and more resilient." To date, PACE financing has promoted over $36.6 billion in local economic development, reduced carbon emissions by an estimated 17 million metric tons, and led to the creation of as many as 269,000 local jobs. "Receiving the PACE Champion Award is a personal highlight and I want to thank PACENation and my industry colleagues for this honor," said Colin Kalvas, Partner at the law firm Bricker Graydon. "PACE financing is a valuable tool for commercial property owners that has made major impact in a relatively short time span and I look forward to working with PACENation and other leaders to continue that success." 2025 PACE CHAMPIONS PACE Champions are recognized for extraordinary leadership over multiple years to strengthen and expand the PACE marketplace. The 2025 PACE Champions are: Colin Kalvas, Bricker Graydon Rafi Golberstein, PACE Loan Group 2025 PACESETTERS PACESetter Awards are designed to recognize individuals and teams whose efforts have advanced PACE as a critical public policy tool that strengthens communities. The 2025 PACESetters are: PACESetter Award for Promoting Diversity, Equity, and Inclusion in the PACE Marketplace LaShanya Washington, City First Bank Tom Nida, City First Bank PACESetter Award for Excellence in Program Design and Implementation Eric Christensen, New Mexico C-PACE PACESetter Award for Excellence in Advocacy and Policy Innovation Steve Wiese, Keeping PACE in Texas & Frontier Energy Eric Cowan and Michael Turner, CO C-PACE Senator Lindsey Port, State of Minnesota Representative Ned Carroll, State of Minnesota PACESetter Award for Innovative Deals of the Year Under $5M The Alley North Office Development Project Team, Amalgamated Bank & Allectrify The Old Soldier Hedden Empire Building Project Team, Last Best PACE Program Republic Elite Multifamily Interiors Inc. Project Team, Steve Garwood and Texas PACE Authority $5M-$50M The Stella Project Team, PACE Loan Group $50M+ AREA 15 Project Team, North Bridge Habitat LA Project Team, CounterpointeSRE Women Leaders in PACE Kim Bebchuk, PACE Loan Group ABOUT PACENATIONPACENation is the nonprofit membership organization that advocates for expanded access to PACE financing. PACENation provides resources and support to local governments, businesses, and nonprofit organizations that are committed to allowing American property owners to improve the efficiency and resiliency of their homes and businesses with PACE. View original content to download multimedia: SOURCE PACENation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Business
- Yahoo
Dana Inc (DAN) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic Cost ...
Sales: $2.4 billion, $383 million lower than last year. Adjusted EBITDA: $188 million, profit margin of 8%. Net Income: $25 million, compared to $3 million last year. Operating Cash Flow: Use of $37 million, an improvement of $65 million year-over-year. Free Cash Flow: Use of $101 million, $67 million higher than last year. Cost Savings: $41 million in profit from cost-saving actions. Tariff Impact: $6 million in the quarter, with expected recoveries throughout the year. Foreign Currency Impact: Decreased sales by $53 million, profit lower by $4 million. 2025 Full Year Sales Guidance: Expected to be above the midpoint of the range. 2025 Adjusted EBITDA Guidance: $975 million at midpoint, 10% profit margin. 2025 Adjusted Free Cash Flow Guidance: $225 million at midpoint. 2025 Adjusted EPS Guidance: $1.40 per share at midpoint. Warning! GuruFocus has detected 5 Warning Signs with DAN. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Dana Inc (NYSE:DAN) is accelerating its cost reduction program, increasing the target from $175 million to $225 million for 2025. The integration of the Power Technologies segment into Light Vehicle and Commercial Vehicle segments is expected to yield $30 million to $35 million in cost savings. Dana Inc (NYSE:DAN) reported a year-over-year improvement in free cash flow by $67 million in Q1 2025. The company won its 10th PACE Award for its hybrid transmission, which is expected to grow sales significantly over the next few years. Dana Inc (NYSE:DAN) is confident in recovering 100% of the tariffs imposed, with processes in place to ensure timely recovery from customers. Dana Inc (NYSE:DAN) faced a $6 million headwind from tariffs in Q1 2025, impacting margins. Sales were $383 million lower than the previous year, driven by reduced demand across all end markets. The company is experiencing a reduction in schedules for North American commercial vehicle customers, posing a potential headwind. Foreign currency translation negatively impacted sales by $53 million, primarily due to the lower value of the euro, real, and rupee compared to the US dollar. Dana Inc (NYSE:DAN) is cautious about potential risks in the light vehicle market in the second half of the year, which could affect future guidance. Q: Can you provide an update on the guidance for Dana's new business versus the off-highway segment, considering the various factors like tariffs and cost savings? A: Timothy Kraus, CFO, stated that the Commercial Vehicle segment is expected to be lower than previously anticipated, but this is offset by improvements in Light Vehicle and off-highway segments, as well as tariff offsets. Bruce McDonald, CEO, added that the incremental cost reduction target is small relative to corporate sales, and the path to achieving the 2026 margin targets for the new Dana is on track. Q: What is the exposure to tariffs, and how long do you expect the recovery process to take? A: Timothy Kraus, CFO, explained that while he couldn't disclose the overall exposure, the recovery process is expected to take less than a quarter. Most large customers have set up processes to handle tariff recoveries, and Dana has already started providing the necessary documentation to facilitate this. Q: How confident are you in achieving the $225 million cost savings target for 2025, and what are the main sources of these savings? A: Timothy Kraus, CFO, expressed strong confidence in achieving the $225 million target, noting that 70% of the savings are from headcount and engineering reductions. The company has already actioned over 70% of the planned headcount reductions, with further actions planned throughout the year. Q: With the integration of Power Technologies into other segments, does this mean the business is no longer for sale? A: Bruce McDonald, CEO, confirmed that Power Technologies is not for sale and emphasized that the integration is aimed at running the business more efficiently. The consolidation is expected to yield $30 million to $35 million in savings, with further operational improvements anticipated. Q: How does Dana plan to address the potential impact of tariffs on its operations and supply chain? A: Bruce McDonald, CEO, mentioned that while the rules around tariffs have been volatile, Dana is having discussions about potential mitigation strategies, such as reshoring and changing suppliers. However, some issues, like castings from India, cannot be addressed in the short term. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
16-04-2025
- Automotive
- Yahoo
Hanon Systems Wins Third PACE Award for Visible-Light LED Photocatalyst Technology
Hanon Systems recognized with its third PACE Award win, this time for visible-light LED photocatalyst technology that enhances in-vehicle air quality The technology demonstrates 98.5% virus sterilization efficiency and 97.5% in gas deodorization, and is applied in premium sedans The company reaffirms its commitment to pioneering innovative technologies for a more comfortable and healthier driving environment SEOUL, South Korea, April 16, 2025 /PRNewswire/ -- Hanon Systems, a leading global automotive thermal management supplier and subsidiary of Hankook & Company Group, has been named a winner of the 2025 PACE Awards. This marks the company's third win, making it the first Korean supplier to achieve this recognition. The award was presented at a ceremony on April 15 (local time) in Detroit, Mich., recognizing Hanon Systems for its visible-light LED photocatalyst technology, which enhances antimicrobial and deodorizing performance in HVAC systems. This innovative solution effectively eliminates harmful gases, odors, and microorganisms that enter the vehicle from both internal and external sources. Unlike conventional ionizers, it operates without generating electromagnetic waves or ozone, providing a safer and more effective approach to improving in-cabin air quality. Testing by external institutions demonstrated a virus sterilization rate of 98.5%, a significant improvement from the 66.1% measured from previous solutions. The deodorization performance also improved from the previous 35% to 97.5%, nearly a threefold increase. The technology is semi-permanent, requiring no replacement. It is currently applied in Hyundai's flagship sedan, the G90, and is now being considered for potential implementation by global OEMs. This award adds to Hanon Systems' long-standing track record of innovation. The company was a finalist in 2016 for its UV photocatalyst technology, also aimed at improving air quality. The current solution builds on that earlier work by overcoming limitations, ensuring the technology is harmless to humans, and offering potential applications beyond the automotive sector, including indoor climate systems. "For 30 years, the PACE program has celebrated cutting-edge innovations that have shaped the automotive industry on a global level," said Jamie Butters, executive editor of Automotive News. "The companies on this year's list have pioneered significant technologies that will continue to propel the industry forward. "This award is global recognition of Hanon Systems' differentiated technological competitiveness," said Mr. Soo-Il Lee, President and CEO of Hanon Systems. "We remain committed to developing advanced technologies that go beyond comfort to deliver enhanced well-being and redefine the driving experience." This marks Hanon Systems' third PACE Award win. The company first won in 2007 for its wavy blade fan and shroud, becoming the first Asian supplier to be honored. It won again in 2013 for its metal seal fitting. The PACE Awards, organized annually by Automotive News, recognize outstanding innovation, technological advancement, and business performance in the global automotive industry. This year marks the 30th anniversary of the prestigious program. About Hanon SystemsHanon Systems, founded in 1986, is a global leader in thermal energy management solutions. In January 2025, it became a subsidiary of Hankook & Company Group. Its offering includes a wide range of solutions in the areas of heating, ventilation and air conditioning, powertrain cooling, compressor, fluid transport, and electronics and fluid pressure. The company currently operates 50 manufacturing sites and three regional innovation centers and employs more than 20,000 people across 21 countries. To learn more, visit Follow Hanon Systems:LinkedIn: YouTube: View original content to download multimedia: SOURCE Hanon Systems Sign in to access your portfolio
Yahoo
16-04-2025
- Automotive
- Yahoo
Hanon Systems Wins Third PACE Award for Visible-Light LED Photocatalyst Technology
Hanon Systems recognized with its third PACE Award win, this time for visible-light LED photocatalyst technology that enhances in-vehicle air quality The technology demonstrates 98.5% virus sterilization efficiency and 97.5% in gas deodorization, and is applied in premium sedans The company reaffirms its commitment to pioneering innovative technologies for a more comfortable and healthier driving environment SEOUL, South Korea, April 16, 2025 /PRNewswire/ -- Hanon Systems, a leading global automotive thermal management supplier and subsidiary of Hankook & Company Group, has been named a winner of the 2025 PACE Awards. This marks the company's third win, making it the first Korean supplier to achieve this recognition. The award was presented at a ceremony on April 15 (local time) in Detroit, Mich., recognizing Hanon Systems for its visible-light LED photocatalyst technology, which enhances antimicrobial and deodorizing performance in HVAC systems. This innovative solution effectively eliminates harmful gases, odors, and microorganisms that enter the vehicle from both internal and external sources. Unlike conventional ionizers, it operates without generating electromagnetic waves or ozone, providing a safer and more effective approach to improving in-cabin air quality. Testing by external institutions demonstrated a virus sterilization rate of 98.5%, a significant improvement from the 66.1% measured from previous solutions. The deodorization performance also improved from the previous 35% to 97.5%, nearly a threefold increase. The technology is semi-permanent, requiring no replacement. It is currently applied in Hyundai's flagship sedan, the G90, and is now being considered for potential implementation by global OEMs. This award adds to Hanon Systems' long-standing track record of innovation. The company was a finalist in 2016 for its UV photocatalyst technology, also aimed at improving air quality. The current solution builds on that earlier work by overcoming limitations, ensuring the technology is harmless to humans, and offering potential applications beyond the automotive sector, including indoor climate systems. "For 30 years, the PACE program has celebrated cutting-edge innovations that have shaped the automotive industry on a global level," said Jamie Butters, executive editor of Automotive News. "The companies on this year's list have pioneered significant technologies that will continue to propel the industry forward. "This award is global recognition of Hanon Systems' differentiated technological competitiveness," said Mr. Soo-Il Lee, President and CEO of Hanon Systems. "We remain committed to developing advanced technologies that go beyond comfort to deliver enhanced well-being and redefine the driving experience." This marks Hanon Systems' third PACE Award win. The company first won in 2007 for its wavy blade fan and shroud, becoming the first Asian supplier to be honored. It won again in 2013 for its metal seal fitting. The PACE Awards, organized annually by Automotive News, recognize outstanding innovation, technological advancement, and business performance in the global automotive industry. This year marks the 30th anniversary of the prestigious program. About Hanon SystemsHanon Systems, founded in 1986, is a global leader in thermal energy management solutions. In January 2025, it became a subsidiary of Hankook & Company Group. Its offering includes a wide range of solutions in the areas of heating, ventilation and air conditioning, powertrain cooling, compressor, fluid transport, and electronics and fluid pressure. The company currently operates 50 manufacturing sites and three regional innovation centers and employs more than 20,000 people across 21 countries. To learn more, visit Follow Hanon Systems:LinkedIn: YouTube: View original content to download multimedia: SOURCE Hanon Systems Sign in to access your portfolio
