Lowe’s and Virginia Tech Equip Retail Employees With Futuristic Wearable Robotic Suit

MOORESVILLE, N.C., May 15, 2017 /PRNewswire/ — Lowe’s and Virginia Tech have joined forces to develop an exosuit—a wearable robotic suit with lift-assist technology— for Lowe’s store employees. Currently in pilot at Lowe’s Christiansburg, Va. store, the lightweight exosuit is designed to support employees by helping them lift and move product through the store more efficiently, to aid against muscle fatigue that can result from repetitive motion.

„Our employees ensure our stores are always ready for customers,” said Kyle Nel, executive director of Lowe’s Innovation Labs, the company’s disruptive technology hub. „As a way to support them, we found a unique opportunity to collaborate with Virginia Tech to develop one of the first retail applications for assistive robotic exosuits.”

As part of Lowe’s Innovation Lab’s narrative-driven approach, the team works with science fiction writers to envision the future, using storytelling as inspiration for innovative initiatives. The Lab envisioned a future where the use of technology could provide special superpowers to employees and maximize performance. To bring this narrative to life, Lowe’s engaged Dr. Alan Asbeck, assistant professor in the Department of Mechanical Engineering, and a team of eight graduate and undergraduate students from Virginia Tech’s Assistive Robotics Laboratory.

Together, Lowe’s and Virginia Tech designed and developed an exosuit prototype after months of lab testing. The outcome was a light-weight wearable exosuit that reinforces proper lifting form, and is intended to make lifting heavy objects easier. The exosuit is designed to accomplish this by absorbing energy and delivering it back to the user, enabling them to exert less force to complete certain movements. As they bend and stand, carbon fiber in the suit’s legs and back act like a taut bow ready to launch an arrow, helping them spring back up with greater ease. As a result, commonly lifted objects, like a bag of concrete or a five-gallon bucket of paint, feels significantly lighter to the user.

„Over the past couple years, human assistive devices have become an area of interest,” Asbeck said. „But, our technology is different, not only because of the suit’s soft, flexible elements, but because we’re putting the prototype in a real world environment for an extended period of time.”

The first four suits are currently in use by the stocking team at the Christiansburg store. During the coming months, Asbeck and his team will work with Lowe’s to assess the physical impact of the suit. Lowe’s will also lead employee engagement studies to better understand the impact of the exosuit on the work experience.

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

About Virginia Tech
Dedicated to its motto, Ut Prosim (That I May Serve), Virginia Tech takes a hands-on, engaging approach to education, preparing scholars to be leaders in their fields and communities. As the commonwealth’s most comprehensive university and its leading research institution, Virginia Tech offers 240 undergraduate and graduate degree programs to more than 31,000 students and manages a research portfolio of $513 million. The university fulfills its land-grant mission of transforming knowledge to practice through technological leadership and by fueling economic growth and job creation locally, regionally, and across Virginia.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lowes-and-virginia-tech-equip-retail-employees-with-futuristic-wearable-robotic-suit-300457376.html

SOURCE Lowe’s Companies, Inc.

Related Links

http://www.lowes.com

Delta is Testing Facial Recognition Technology, Plans First Biometric-Based Self-Service Bag Drop in U.S.

ATLANTA, May 15, 2017 /PRNewswire/ — Delta Air Lines (NYSE: DAL) is introducing four self-service bag drop machines at Minneapolis-St. Paul International Airport this summer, a $600,000 investment that allows customers to quickly, securely and easily check their own bags. One machine will be equipped to test facial recognition technology to match customers with their passport photos through identification verification, a first for U.S. carriers.

„We expect this investment and new process to save customers time,” said Gareth Joyce, Delta’s Senior Vice President – Airport Customer Service and Cargo. „And, since customers can operate the biometric-based bag drop machine independently, we see a future where Delta agents will be freed up to seek out travelers and deliver more proactive and thoughtful customer service.”

The airline’s introduction of self-service bag drops and facial-recognition technology is a natural next step in its work to streamline airport processes and is complimented by Delta’s industry-leading radio frequency identification technology. Previous self-service innovations like ticketing kiosks and check-in via the Fly Delta Mobile app have transformed congested lobby areas and drastically improved customer satisfaction scores.

Delta also worked with the Transportation Security Administration to implement the first automated screening lanes in the U.S. at the Hartsfield-Jackson Atlanta International Airport. Other innovations include developing a groundbreaking app that helps pilots avoid turbulence for a more comfortable flight, launching the industry’s most interactive airport wayfinding maps on the FlyDelta mobile app and strategically enhancing its boarding process.

„This is the next step in curating an airport experience that integrates thoughtful innovation from start to finish,” Joyce said. „We’re making travel easier than ever for our customers and continuing to deliver a leading customer experience.”

The airline will collect customer feedback during the trial and run process analyses to ensure that this lobby enhancement improves the overall customer experience. Studies have found that self-service bag drops have the potential to process twice as many customers per hour.

About Delta

Delta Air Lines serves more than 180 million customers each year. In 2017, Delta was named to Fortune’s top 50 Most Admired Companies in addition to being named the most admired airline for the sixth time in seven years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for an unprecedented six consecutive years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 323 destinations in 59 countries on six continents. Headquartered in Atlanta, Delta employs more than 80,000 employees worldwide and operates a mainline fleet of more than 800 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry’s leading transatlantic joint venture with Air France-KLM and Alitalia as well as a joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Minneapolis/St. Paul, New York-JFK and LaGuardia, London-Heathrow, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. Additional information is available on the Delta News Hub, as well as delta.com, Twitter @DeltaNewsHub, Google.com/+Delta, and Facebook.com/delta.

SOURCE Delta Air Lines

Lionbridge to Lead Global Customer Engagement Discussion at SiriusDecisions 2017 Summit

WALTHAM, Mass., May 15, 2017 /PRNewswire/ — Lionbridge Technologies, Inc., the world’s most trusted translation and digital communications company, today announced it will present best practices for global customer engagement alongside its clients Cisco and Rockwell Automation at the upcoming SiriusDecisions 2017 Summit in Las Vegas. Lionbridge is a platinum sponsor of the event, taking place May 16-19 and will exhibit its solutions in booth #525X.

This year’s Summit brings together senior leaders and professionals in marketing, product and sales to discuss data-driven best practices research and explore new innovations for B2B marketers. During the event, Lionbridge and its clients will present the following case study sessions:   

  • Digital First: How Rockwell Automation Increased Website Engagement
    Lionbridge’s SVP and CMO Clint Poole will present with Nina LoCicero, global manager of digital marketing at Rockwell Automation. This session will outline best practices and challenges for website localization to ensure that brand messaging resonates across borders and languages, while reaching target audiences and enhancing customer experiences. Experts will highlight the necessary framework needed to drive success, increase website engagement and take on complex localization projects. Learn how Rockwell Automation simplified the challenges of going global by successfully defining and deploying a global content strategy and customer engagement model. This session will be held on Tuesday, May 16 from 11:15 a.m.12:00 p.m. in room Bellini 2103.
                                                                  
  • How Cisco Addressed and Streamlined Creative Services with an In-House Team
    Lionbridge’s SVP and CMO Clint Poole will present with Rafael Renovato, Cisco’s global operations & vendor manager, and Lisa Fedele, senior global operations manager at Cisco. This session will discuss today’s shifting marketing landscape and the challenges of managing budgets, addressing evolving business needs and achieving agility at scale. Learn how Cisco’s marketing team built and implemented an agile, in-house creative team to meet the needs of various business units and allow for continuous improvement. This session will be held on Tuesday, May 16 from 2:15 p.m.3:00 p.m. in room Bellini 2103.

„As more and more organizations’ business needs evolve and become more demanding, finding innovative ways to achieve agility while remaining cost effective can be a difficult task,” said Rafael Renovato, global operations & vendor manager, Cisco. „We’re excited to share our best practices and lessons learned for building an effective internal global team that delivers creative assets that resonates with all stakeholders across regions.”

„In today’s global economy, success relies heavily on reaching people across cultures, languages and geographies,” said Nina LoCicero, global manager of digital marketing, Rockwell Automation. „From setting up workflows for website localization tasks to constantly updating and re-localizing content, our partnership with Lionbridge ensures that relevant content is delivered to the right person at the right time, ultimately enhancing customer engagement.”

„Today’s global marketers are focused on balancing global consistency with effective online engagements that reach target audiences across all regions,” said Clint Poole, CMO and senior vice president, Lionbridge. „We’re delighted to present with leading companies like Cisco and Rockwell Automation and highlight their successes at the SiriusDecisions Summit. Sponsoring this important event and presenting with our global clients underscores our ongoing focus on leadership and innovation in global content marketing.”

For more information, visit http://siriusdecisionssummit.com/

About Lionbridge
Lionbridge enables more than 800 world-leading brands to increase international market share, speed adoption of products and effectively engage their customers in local markets worldwide. Using our innovative cloud technology platforms and our global crowd of more than 100,000 professional cloud workers, we provide detail-critical business processes, including translation, online marketing, global content management and application testing solutions that ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle. Based in Waltham, Mass., Lionbridge maintains solution centers in 27 countries. To learn more, visit www.lionbridge.com.

Media Contact:
Aimee Jen
Text100
NALionbridge@text100.com 
+1-617-399-4924

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lionbridge-to-lead-global-customer-engagement-discussion-at-siriusdecisions-2017-summit-300456537.html

SOURCE Lionbridge Technologies, Inc.

Related Links

http://www.lionbridge.com

Seerene Adds Bill Macaitis To Advisory Board

SAN FRANCISCO, May 15, 2017 /PRNewswire/ — Seerene, the leading platform for code+people management (CPM), has announced Bill Macaitis as a new member of its Advisory Board.

With over 20 years of experience leading marketing, sales, customer service and support teams, and scaling startups and growth companies into multi-billion dollar enterprises, Bill brings exceptional experience and knowledge to help grow Seerene globally. Bill previously served as the Chief Marketing and Revenue Officer for Slack Technologies, Inc. as well as Zendesk. Prior to that, Bill was the Senior Vice President of Online Marketing and Operations at Salesforce.com and a Senior Vice President of Online Marketing at Fox Interactive Media.

„Bill has a stellar track record in creating category leaders and turning startups into multi-billion dollar enterprises, and we’re thrilled to have him on our board,” said Oliver Muhr, Seerene’s CEO.” As a member of Seerene’s Advisory Board, Bill will be a key resource for us, and will provide strategic insights and advice on category creation, brand creation, and turning Seerene into a billion-dollar company.”

„I believe in mission-driven companies that change the world with innovative technology, and am very excited to serve as a board member for a business that provides companies with the previously inaccessible insights required in this digital age,” said Bill Macaitis. „Seerene is establishing a new category in CPM and will change the way CIO’s manage their most important strategic assets—their codebase and engineering capacity. I look forward to helping the company and partnering with the management team.”

Seerene helps large companies distill millions of code+people interactions so executives can better understand where their resources are invested, what’s slowing things down, and which projects need their attention. With software transforming how businesses operate and grow, it’s crucial that CIOs have a platform that allows them to make sense of their data and gives them a clear view of their IT performance.

About Seerene
Serene’s code+people management (CPM) platform sets a new standard for how executives manage their most important resources—their codebase and engineering capacity. It lets them see across all of their software initiatives to easily understand the related effort, cost, and risks. Seerene has offices in Berlin, London, New York, San Francisco, and Hong Kong, and is used by Fortune 500 companies including SAP, T-Mobile, and Adidas. Seerene is funded by Lakestar and Earlybird, two of the most prominent VCs in Europe. In 2016, it won the Digital Top 50 ‚Best Startup’ award from Google and McKinsey & Company.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/seerene-adds-bill-macaitis-to-advisory-board-300456599.html

SOURCE Seerene

Related Links

http://www.seerene.com

At UITP, moovel Launches Fare Connect™, a Mobile Contactless Fare Platform Designed to Revolutionize the Transportation Industry

Industry’s first hardware-agnostic, contactless mobile fare validation and calculation platform, Fare Connect, frees transit agencies from constricting proprietary hardware agreements

PORTLAND, Ore., May 15, 2017 /PRNewswire/ — moovel North America, the leading provider of multi-modal transportation solutions, today announced the launch of Fare Connect, a new hardware-agnostic, contactless mobile fare validation and calculation platform that allows transit agencies to implement new fare validation systems, or modify existing ones, at anytime without the hassle of constricting proprietary hardware agreements. After a highly successful trial implementation of Fare Connect, Orange County Transportation Authority (OCTA) chose to deploy the platform across their entire revenue fleet in 2017.

Fare Connect combines the power of moovel’s proven mobile ticketing software with the speed and simplicity of contactless technology to make boarding convenient and simple. This remarkably flexible platform also equips transit agencies with the tools necessary to uplift their existing fare collection infrastructures to accept and validate mobile fares. Powered by moovel’s pioneering embedded software development kit , Fare Connect redirects transit agency engineering staff from burdensome software development cycles to work that grows their core business.

„OCTA is committed to delivering the very best customer experience for riders of our regional transit system. That is why we partnered with moovel to expand our use of our moovel-powered ticketing solutions to incorporate their contactless mobile fare platform,” said Bill Mao, chief information officer at OCTA. „After a very positive limited implementation of Fare Connect on OCTA buses, we are excited to deploy the platform across the entire OCTA revenue fleet this year. I am delighted to continue our close relationship with moovel and deliver the very best experience for OCTA riders.”

Key Fare Connect benefits include:

  • Rapid Implementation- Remote management and simplified mounting options result in a rapid and noninvasive installation process
  • Contactless Technology Integration- Works on all contactless technologies, including QR codes, Aztec barcodes, NFC and Bluetooth to capture and validate fares in real-time
  • Hardware-Agnostic- Integrates with new or existing fare collection and validation systems; can be installed as a standalone solution with any hardware
  • Open API Configurations & Diverse Fare & Payment Capabilities- Provides a set of licensed open APIs, barcode and NFC specifications to enable the widest range of payment methods
  • Real-Time Rider Intelligence- Automatically syncs with moovel’s back-office mobile ticketing management system, TOMS, to intelligently track rider movement and dynamically calculate fares
  • Premier Fraud Prevention & Data Security- Designed with in-depth visual and audio fraud prevention techniques, so operators can distinctly identify invalid tickets

„For too long, public transit agencies have had few choices for interoperable hardware and software solutions. At moovel, we believe in choice for transit administrators designing fare validation and calculation systems,” said Nat Parker, chief executive officer of moovel North America. „Fare systems must contain flexible components that allow them to evolve alongside rider preferences and technology innovation. That is why we designed Fare Connect to be hardware-agnostic, so that our clients can make the right strategic decisions for the betterment of rider experience and for the fiscal health of their organizations. We oppose proprietary technology contracts that prevent transit agencies from embracing positive innovation and compatibility between technology vendors.”

moovel is providing live demonstrations of Fare Connect at the 2017 UITP Global Public Transport Summit; moovel’s UITP booth is located on level 2, #2D103.

moovel N.A.

moovel N.A. LLC, a part of moovel Group GmbH, enables seamless multi-modal experiences and connected transit commerce through mobile applications. moovel is the leading North American provider of mobile ticketing applications that allow riders to book and pay for public transit tickets via their smartphone. This makes moovel N.A. the leading provider of mobile ticketing technology for U.S.-based transit apps. Led by CEO Nat Parker, moovel is headquartered in Portland, OR. For more information, please visit https://www.moovel-transit.com/en.

moovel Group GmbH

moovel Group GmbH, a wholly owned subsidiary of Daimler AG, is working on simplifying mobility and making cities smarter. moovel is creating an Operating System for urban mobility, that offers access to several mobility services, paving the way toward a future with autonomous cars. moovel partners with cities, transit authorities and agencies, as well as direct end users. In Germany, moovel’s mobility app combines local public transport with carsharing provider car2go, mytaxi, rental bicycles and Deutsche Bahn. Most services can be booked and paid for directly via the moovel app. With its product portfolio moovel transit, moovel Group delivers white label solutions to  transit authorities and agencies worldwide. In the U.S., moovel North America is the market leader in mobile ticketing solutions for transit agencies. For more information, please visit www.moovel-group.com.

Contact:
Thea Lavin, moovel North America
thea.lavin@moovel.com
503-964-1556

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/at-uitp-moovel-launches-fare-connect-a-mobile-contactless-fare-platform-designed-to-revolutionize-the-transportation-industry-300457039.html

SOURCE moovel North America

Related Links

http://www.moovel-group.com

AMX doubles assets managed within three months of launch

ARLINGTON, Va., May 15, 2017 (GLOBE NEWSWIRE) — Leading global advisory, broking and solutions company, Willis Towers Watson’s (NASDAQ:WLTW) Asset Management Exchange (AMX) has doubled its assets under management, from $750 million to more than $1.5 billion, just three months after its launch.
The open architecture exchange aims to fundamentally transform institutional investment by providing asset owners with a smarter, easier and cheaper way to engage with managers while offering them access to significant capital on a global basis. Through its centralized back-office and standardized fund infrastructure, AMX bypasses the investment industry’s significant cost and resource duplication, delivering scale benefits to both sides of the market while improving transparency and asset owner control.“AMX has brought the digital revolution to institutional asset management, and both asset owners and managers have been swift to embrace it,” said Oliver Jaegermann, global head of AMX. “The initial response to AMX illustrates the appetite among institutional investors for a centralized marketplace that gives buyers better choice and control, while managers welcome an innovation that opens up access to new customers and allows them to focus on developing and executing their investment strategies instead of spending their resources on packaging them for sale.”Willis Towers Watson committed a significant financial investment into the development of AMX, which represents the continuation of its corporate strategy of building client-oriented solutions and operating marketplaces. A dedicated team of over 25 people is already in place and continuing to grow to satisfy demand for the exchange. The capital currently on the exchange comes from clients of the company’s Investment business, but the open architecture nature of the exchange means it has also appealed to other investor bases, both inside the firm and externally.AMX is open to institutional asset owners to benefit from the economies of scale that will increase in line with asset growth. In addition, the exchange takes on the development of product packaging, allowing asset managers to focus solely on investing. The capital currently on the exchange comes from clients of the company’s UK Investment business where it is already licensed to be distributed to institutional investors, but the open-architecture nature of the exchange means that it can appeal to other investor bases – both inside the firm and externally.AMX, which launched in the U.K. in February 2017, is initially focusing on providing cost-effective and simpler access to hedge fund strategies, with additional asset classes following later in the year.Notes to editors

SAP® App Center Simplifies Acquiring and Managing Partner Solutions

ORLANDO, Fla., May 15, 2017 /PRNewswire/ — SAP SE (NYSE: SAP) said today that SAP® App Center now provides customers with real-time access to innovative partner solutions that complement and extend their SAP solutions, enabling digital transformation of their business. SAP App Center customers can buy solutions directly from partners and centrally manage purchases, billing and vendor communications. The announcement was made at the SAP Global Partner Summit on May 15, 2017, in Orlando.

„We are making it easier for our customers to find, acquire and manage great solutions from our broad ecosystem of strategic solution partners including startups, independent software vendors, and services and technology partners,” said Diane Fanelli, general manager, Global Channels and Platform at SAP. „We made SAP App Center more compatible with our customers’ procurement processes and more robust for our partners to engage with SAP customers.”

New features of SAP App Center include:

  • Broad SAP ecosystem coming together in one place: With more than 1,300 partner applications, SAP App Center makes it easier to discover and try new technologies to expand all SAP offerings including SAP S/4HANA®, SAP SuccessFactors®, SAP Hybris®, SAP Ariba®, and SAP Analytics solutions.
  • Enterprise marketplace: Two-tiered and enterprise-grade procurement and payment methods include SAP Ariba solutions for payment and support for global procurement with multicurrency, POs and credit cards.
  • Digital transformation acceleration: The combination of SAP S/4HANA, SAP Cloud Platform and cloud line-of-business solutions from SAP along with the multiplier of the thousands of partner apps in the ecosystem provides support for bimodal architecture for compatibility and agility — ultimately enabling innovation without disruption.

Customers and partners can reap the benefits of the SAP App Center digital enterprise marketplace immediately. In addition, SAP Store remains the preferred place for customers to seamlessly buy and use software, content, education and services endorsed and sold by SAP in a completely digital, low-touch manner. Click here for updates to SAP Store.

Visit www.sapappcenter.com for more information on SAP App Center.

For more information, visit the SAP News Center. Follow SAP on Twitter at @sapnews.

About SAP
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 350,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as „anticipate,” „believe,” „estimate,” „expect,” „forecast,” „intend,” „may,” „plan,” „project,” „predict,” „should” and „will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission („SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

© 2017 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

For more information, press only:
Susan Miller, SAP, +1 (610) 570-6845, susan.miller@sap.com, ET
SAP News Center press room; press@sap.com
Adam Novak, PAN Communications, +1 (617) 502-4326, anovak@pancom.com, ET

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sap-app-center-simplifies-acquiring-and-managing-partner-solutions-300457124.html

SOURCE SAP SE

Related Links

http://www.sap.com

MagneGas Reports 31% Increase in Revenue for the First Quarter of 2017

TAMPA, Florida, May 15, 2017 /PRNewswire/ —

Reduces operating expenses by 40% versus the fourth quarter in 2016 

Investor Call to be held on Tuesday, May 16th at 11:00 a.m. Eastern Time 

MagneGas Corporation („MagneGas” or the „Company”) (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, today announced financial results and provided a business update for the first quarter ending March 31, 2017.

Recent Highlights:

  • Revenue increased 31% in the first quarter of 2017 versus the same period last year;
  • Operating expenses decreased $1.9 million, or 40% for the three months ending March 31, 2017 as compared to the three months ending December 31, 2016;
  • Significant reduction in production cost of MagneGas2®;
  • Aggressive cost reduction program initiated;
  • Completed $1 million bridge financing and warrant exchange to improve capital structure.

Ermanno Santilli, Chief Executive Officer of MagneGas, stated, „We continue to leverage MagneGas 2® to grow our industrial gas sales and are pleased to report a 31% increase in revenue for the three months ending March 31, 2017 versus the same period last year. At the same time, we have been streamlining our operations-reducing our operating expenses by 40% versus the fourth quarter in 2016. While our SG&A was down sequentially from the fourth quarter of 2016, we expect the true impact of our recent and future cost reductions to be reflected in future quarters. We also identified a more cost-effective feedstock for MagnegGas2®, which has significantly enhanced our gross margins and productivity. Given the fixed cost nature of our business, we see a clear path to profitability through organic growth and careful management of our expenses.”

„In addition to organic growth, we are focused on acquiring accretive companies in the industrial gas market, as a means to rapidly scale the business and maximize profitability. In addition to potential acquisitions in Florida and Indiana, where the Company already has a strong presence and existing sales force, we are also seeking to penetrate new markets in the U.S. with a strong industrial base, and have identified a number of potential high-quality targets.”

„In March, we announced that we successfully installed a Plasma-Arc Gasification system at Green Arc Supply, LLC in Louisiana which makes it the first unit operating outside of MagneGas headquarters in the U.S.A. Pursuant to the terms of the Gasifier Purchase Agreement, MagneGas received a total of $775,000 in addition to recurring royalty payments. We are excited to have our first operating system at a customer location and look forward to replicating this business model of upfront payments plus long-term, high margin royalties at additional locations.”

„With continued sale growth, a 40% reduction in our operating expenses versus the fourth quarter of 2016, a significant reduction in our production costs of MagneGas 2® and several acquisition candidates in the pipeline, we are confident that we are on the right path to profitability in 2017.”

Scott Mahoney, Chief Financial Officer of MagneGas, commented, „Last week, we announced that we completed a $1 million bridge financing and warrant exchange. The bridge financing provides us additional working capital for general corporate purposes at favorable terms and the warrant exchange will help to dramatically enhance our capital structure. By simplifying our capital structure we now have greater financial flexibility, which we believe will ultimately enhance value for shareholders as we execute our corporate restructuring and new growth initiatives.”

„We significantly reduced the overall cost of operations in the first quarter of 2017. One of our top priorities coming into this year was to quickly address our cost structure and cash burn rate. We have cut our overall operating expenses by 40% in the first quarter of 2017 versus the fourth quarter of 2016 and we believe there is room for meaningful further improvements. We initiated a comprehensive review of our staffing model and began to make changes beginning in March. We expect the majority of our staffing changes to take place in the second quarter of 2017, further reducing our payroll and related compensation costs going forward. Our focus thereafter will be to primarily drive revenue growth, enabling our growing gross profit to cover ongoing cash operating expenses. Our goal remains to produce a stable, cash flow positive business model as quickly as possible, ideally no later than the end of 2017.”

First Quarter 2017 Financial Results 

Revenues for the three months ended March 31, 2017 were $871,788 as compared to $665,663 for the same period last year. This increase was primarily due to additional customers and distributors acquired through ESSI. Gross profit increased to $368,400 from $299,900 for the first quarter ending March 31, 2017 versus March 31, 2016.

Operating expenses for the first quarter ending March 31, 2017 were $2.9 million, unchanged from $2.9 million for the same period last year. Operating expenses decreased $1.9 million, or 39.9% for the three months ending March 31, 2017 as compared to the three months ending December 31, 2016. The primary cause for the decrease was a focus on vendor rationalization, reduction in consulting and third party services, and overall cost control efforts.

The Company has also taken additional cost cutting measures related to personnel. The Company has conducted a full review of the previous staffing model and has begun to eliminate redundant and non-essential positions. This has reduced compensation expense from approximately $3.8 million on an annualized basis to approximately $2.7 million. The Company continues to evaluate its costs structure, and may seek to reduce costs further throughout the remainder of 2017.

Conference Call 

MagneGas’ executive management team will host a conference call, Tuesday, May 16th at 11:00 a.m. Eastern Time to discuss the company’s financial results for the first quarter ending March 31, 2017, as well as the Company’s corporate progress and other meaningful developments.

Interested parties can access the conference call by dialing (877)-407-8031 for U.S. callers or +1-(201)-689-8031 for international callers.

A teleconference replay of the conference call will be available approximately one hour following the call, through midnight June 15, 2017, and can be accessed by dialing (877)-481-4010 for U.S. callers or +1-(919) 882-2331 for international callers and entering conference ID: 10394.

About MagneGas Corporation

MagneGas® Corporation (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company’s testing has shown that its metal cutting fuel „MagneGas2®” is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.

The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company’s website at http://www.MagneGas.com.

The Company distributes MagneGas2® through Independent Distributors in the U.S and through its wholly-owned distributor, ESSI (Equipment Sales and Services, Inc). ESSI has four locations in Florida and distributes MagneGas2®, industrial gases and welding supplies. For more information on ESSI, please visit the company’s website at http://www.weldingsupplytampa.com.

The MagneGas IR App is now available for free in Apple’s App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play for Android mobile devices.

To be added to the MagneGas investor email list, please email pcarlson@kcsa.com with MNGA in the subject line.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov .

        (tables follow)

MagneGas Corporation 

Condensed Consolidated Balance Sheets


   
                                                    March 31,             December 31,
                                                        2017                    2016
                                                     (Unaudited)
                   Assets
    Current Assets
    Cash                                   $            53,578     $         1,616,410
    Accounts receivable, net of
    allowance
    for doubtful accounts of $195,931
    and
    $145,931, respectively                             460,466                 442,555
    Inventory, net                                   1,724,035               1,615,933
    Prepaid and other current assets                   358,132                 226,305
    Total Current Assets                             2,596,211               3,901,203

    Property and equipment, net of
    accumulated
    depreciation and amortization of
    $1,592,114
    and $1,474,944, respectively                     6,285,012               6,402,931

    Intangible assets, net of
    accumulated
    amortization of $415,250 and
    $401,277,
    respectively                                       423,148                 437,121
    Security deposits                                   26,636                  26,636
    Goodwill                                         2,108,781               2,108,781
                                                                   
    Total Assets                          $         11,439,788       $      12,876,672              

             Liabilities and Stockholders' Equity
   

    Current Liabilities
    Accounts payable                       $           941,869     $           416,247
    Accrued expenses                                   387,746                 276,630
    Deferred revenue and customer
    deposits                                            25,000                  25,000
    Capital leases, current                             10,029                   9,328
    Derivative liabilities                           6,441,579               7,700,585
    Total Current Liabilities                        7,806,223               8,427,790

    Long Term Liabilities
    Note payable                                       520,000                 520,000
   
    Capital leases, net of current                      23,302                  25,317
    Senior convertible debenture, net of
    debt discount of $709,000                          121,080                  75,000
  
    Total Liabilities                                8,470,605               9,048,107

    Commitments and Contingencies

    Stockholders' Equity
    Preferred stock: $0.001 par;
    10,000,000
    shares authorized; 1,000,000 shares
    issued
    and outstanding at March 31, 2017
    and December 31, 2016                                1,000                   1,000
   
    Common stock: $0.001 par; 90,000,000
    shares
    authorized; 59,597,531 shares issued
    and outstanding at March 31, 2017 and
    58,040,267 shares issued and outstanding at
    December 31, 2016                                    59,597                  58,040
                                                                   
    Additional paid-in capital                        58,317,493              57,328,005
                                                                  
     Accumulated deficit                             (55,408,907)             (53,558,480)
    Total Stockholders' Equity                        2,969,183                3,828,565

    Total Liabilities and Stockholders'
    Equity                                        $  11,439,788            $   12,876,672

MagneGas Corporation 

Condensed Consolidated Statements of Operations 

(Unaudited) 


   
                                                             Three Months Ended
                                                                  March 31,
                                                         2017                   2016

                                                       $871,788               $665,663
    Revenue:                                                                    

    Cost of                                             503,388                365,763
    Revenues                                                                       
                                                        368,400                299,900
    Gross Profit                                                                   
    Operating
    Expenses:
   

    Selling,
    general and
    administration                                    2,607,766                2,552,904

    Research and                                         98,141                  161,294
    development   
    Depreciation and                                    167,338                  153,953
    amortization                                                                   
   
    Total
    Operating
    Expenses                                          2,873,345                2,868,151

                                                                        
    Operating
    Loss                                            (2,504,945)               (2,568,251)

                                                                  
    Other Income
    and
    (Expense):
                                                                                  
    Interest                                              -                     (10,806)

    Amortization
    of debt
    discount                                          (103,080)                       -

      Other income                                        (4,536)                     865
                                                                     
    Change in
    fair value
    of
    derivative
    liability                                          762,134                   956,797

    Total Other
    Income                                             654,518                   946,856
    (Expense)                                                                      

    Net Loss                                    $  (1,850,427)           $  (1,62 1,395)

    Net Loss per
    share:
    Basic and
    diluted                                         $   (0.03)               $   (0.04)
    Weighted
    average
    common
    shares:
    Basic and                                            59,17                    45,68
    diluted                                              9,672                    5,248

Investor Contacts:
Crescendo Communications
T: +1-844-589-8760
mnga@crescendo-ir.com

SOURCE MagneGas Corporation

Volvo Cars s’associe à Google pour intégrer Android à ses véhicules connectés de nouvelle génération

Note to Editors:

Volvo Cars most recently launched a replacement to its bestselling medium size SUV, the XC60 at the Geneva Motor Show. It is set to reveal a smaller SUV, the XC40, later this year.

Volvo Car Group in 2016

For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan.

About Volvo Car Group

Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 534,332 cars in 2016 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.

As of December 2016, Volvo Cars had over 31,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Denny’s Corporation to Present at the BMO Capital Markets 12th Annual Farm to Market Conference on May 18, 2017

SPARTANBURG, S.C., May 15, 2017 (GLOBE NEWSWIRE) — Denny’s Corporation (NASDAQ:DENN), franchisor and operator of one of America’s largest franchised full-service restaurant chains, today announced that the Company will participate in the BMO Capital Markets 12th Annual Farm to Market Conference taking place at the Grand Hyatt New York.  On Thursday, May 18, 2017, the Company will conduct investor meetings with a presentation by Mark Wolfinger, Executive Vice President, Chief Financial Officer and Chief Administrative Officer, at 10:50 a.m. Eastern Time.
Investors and interested parties may listen to a live audio webcast of the presentation which will be available online in the Investor Relations section of Denny’s website at investor.dennys.com with a replay of the event webcast available following the live event.  Investors and interested parties may access a copy of the presentation in the Events and Presentations section of Denny’s website at investor.dennys.com.About Denny’s CorporationDenny’s Corporation is the franchisor and operator of one of America’s largest franchised full-service restaurant chains, based on the number of restaurants.  As of March 29, 2017, Denny’s had 1,731 franchised, licensed, and company restaurants around the world with combined sales of $2.8 billion including 126 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, the Philippines, Curaçao, El Salvador, and Trinidad and Tobago.  For further information on Denny’s, including news releases, links to SEC filings, and other financial information, please visit the Denny’s investor relations website at investor.dennys.com.Investor Contact:
Curt Nichols
877-784-7167

Media Contact:
Jessica Liddell, ICR
203-682-8208