Latest news with #Parallel
Zawya
22-04-2025
- Business
- Zawya
Service Equipment's Saudi IPO 147% oversubscribed
Service Equipment Company's initial public offering (IPO) has been oversubscribed by 147.02% ahead of its listing on the Saudi Stock Exchange (Tadawul) Parallel Market Nomu. The company floated 720,000 ordinary shares, representing a 30% stake, with the final offer price set at SAR84 ($22.4) per share, at the top of the previously announced range of SAR 80 to SAR 84. The book-building period ran from April 13 to April 17, 2025. Service Equipment obtained the approval to launch the share offering last December. The company's financial advisor, Yaqeen Capital, will determine the date for listing of Service Equipment's shares on Nomu after completing the required procedures. The Jeddah-headquartered firm specialises in providing garage equipment for automotive businesses. (Writing by Cleofe Maceda; editing by Seban Scaria)
Yahoo
16-04-2025
- Automotive
- Yahoo
Autonomous rail intermodal cars to begin testing this month
Parallel Systems, which is developing battery-electric railcars that operate autonomously, will launch testing this month on two Georgia railroads, Parallel said on Monday. The Los Angeles-based company also announced it had raised an additional $38 million in funding, bringing its total to date to about $100 million. 'Federal Railroad Administration approval and closing our Series B funding round are two critical milestones for Parallel Systems,' Matt Soule, Parallel founder and chief executive, said in a release. 'Together with our strategic partnerships within the rail industry, Parallel Systems is now poised to fully commercialize our battery-electric rail system, starting with the FRA-approved project in Georgia.' In January, the Federal Railroad Administration approved a request from Parallel, Georgia Central and Heart of Georgia Railroad to test its self-propelled intermodal flatcars, but the company had not previously identified when testing would begin. The seven-phase testing program on the two Genesee & Wyoming short lines will begin with testing on 2 miles of track on the Heart of Georgia that will be disconnected from the rest of the railroad. It will gradually progress to platoon operation of the cars with loaded containers over a 160-mile segment of the two railroads. The company said the latest funding will be used to 'propel commercialization' of its project with railroad partners in the U.S. and Australia, where it has also demonstrated its product. Parallel said it already had a backlog of more than 300 of its autonomous railcars with leading railroads and expects to launch commercial operations in 2026. The company said it is scaling production of its Generation 3 equipment and related autonomy software train control systems, and has tested its technology's compatibility with positive train control in collaboration with Union Pacific. Competitor Intramotev of St. Louis has deployed autonomous railcars in commercial operations at a calcium mine in Missouri and told FreightWaves it is close to signing a deal for autonomous intermodal cars with a customer outside the United States. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your inbox. Find more articles by Stuart Chirls considering making port fees more affordable for Chinese ships: Report Legislation would coordinate law enforcement response to rail cargo theft Could short lines come to the rescue of Class I railroads? US rail traffic sees second double-digit increase of 2025 The post Autonomous rail intermodal cars to begin testing this month appeared first on FreightWaves. Sign in to access your portfolio
Associated Press
11-04-2025
- Business
- Associated Press
Bitget Lists Wayfinder Adding it to Spot Trading
Bitget, the leading cryptocurrency exchange, and Web3 company, has announced the listing of Wayfinder (PROMPT). Wayfinder is an AI and blockchain project aimed at building autonomous on-chain agents that can interact with dApps on behalf of users. Spot trading begins on 10 April 2025, 13:00 (UTC), with withdrawals available on 11 April 2025, 14:00 (UTC). Wayfinder was born from a vision to bring smart, always-on agents to the world of Web3. The concept was sparked by a 2023 Stanford study in which AI characters simulated human-like behavior in a role-playing game town. Demonstrating the potential for persistent, autonomous agents in digital environments. Developed by the creators of Parallel, Wayfinder is a chain-agnostic platform that allows users to deploy AI agents capable of executing complex tasks such as facilitating cross-chain transactions, algorithmic trading operations, and running smart contracts, among others. Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of Wayfinder to Bitget's portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further solidifying its role as a gateway to diverse Web3 projects and cultural movements. For more details on Wayfinder, users can visit here. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA, and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to the Terms of Use.
