FUNDRAISING,SOCIAL MOVEMENTS AND COMMUNITY
American Red Cross | August 17, 2022
The DENSO North America Foundation (DNAF) has donated $100,000 to the American Red Cross to support flood recovery efforts in Kentucky. DENSO's donation will help the aid organization deliver its vital shelter, food and health services to people in need.
Others who wish to support can make their own donation to the American Red Cross through DENSO's disaster relief microsite.
Companies affiliated with DENSO that operate in Kentucky include Kyosan DENSO Manufacturing Kentucky, LLC, located in Mt. Sterling, and DENSO Air Systems, located in Hopkinsville. While these sites were not directly impacted by the flooding, employees at the companies and DENSO partners across the state are deeply connected to communities still in need of relief.
"The devastation Kentuckians are facing is unimaginable. That's why it's so important we do our part in helping those affected get back on their feet, We'll always be committed to positively contributing to the places we call home, and we hope this donation advances communities closer to full recovery."
-Bob Townsend, vice president of Corporate Services at DENSO and DNAF.
DENSO's donation was sourced from DNAF funds specifically earmarked for charitable initiatives.
In addition to providing disaster relief, DNAF is also dedicated to helping students advance their education in science, technology, engineering, math and related programs. To do this, the foundation provides grants to colleges and universities across North America, giving students opportunities to grow their skills, pursue technical careers and lead tomorrow's workforce.
DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers, and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In the fiscal year ending March 31, 2022, DENSO in North America generated $9.5 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation, and pushes DENSO forward.
FARADAY FUTURE | August 16, 2022
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding.
Under the new financing facility, which contemplates total potential funding of as much as $600 million in a convertible secured notes structure, Faraday Future will receive an initial $52 million of committed funds. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. Investors contributing $27 million (plus up to $31 million from additional investors who commit on or prior to August 17, 2022 and fund on or prior to August 19, 2022) will receive a conversion price of $2.2865 per FFIE share, later contributions will receive a conversion price of $2.69 per FFIE share. All investors will receive 33% warrant coverage with an exercise price of $5.00 per FFIE share. The facility is structured to allow for additional investor participation on similar terms. Other terms can be found in our 8-K filing dated August 15, 2022. Citi served as placement agent, and Sidley Austin LLP served as legal advisor to the Company. Blank Rome LLP and Ellenoff Grossman & Schole LLP served as legal advisors to the lead investor in the fundraising.
The Company remains in active discussions with both U.S. institutional investors and international funding sources. These discussions may or may not lead to additional funding commitments beyond what has already been executed. The Company will provide further updates on financing negotiations as appropriate, and upon the conclusion of any additional definitive agreements.
“I am very pleased to have this important new committed capital and framework in place for substantial additional funding. We are working diligently to complete this capital raise process in order to raise sufficient new funds to launch the FF 91. Subject to successful completion of this fundraising process, I am confident that we can deliver cars to our customers in late Q3 or Q4, Our Hanford manufacturing facility, recently renamed the “FF ieFactory California” is nearing completion. We have all the equipment on site needed to begin production and are in the final stages of installation. The FF ieFactory California has already produced over a dozen production-intent vehicles. Testing and validation of the FF 91 is well underway, and I am very pleased with the results we are seeing. The FF 91 will be the world’s first ultra-luxury EV and will reset customer expectations for what the future of intelligent mobility can be.”
-Dr. Carsten Breitfeld, Global CEO of Faraday Future.
ABOUT FARADAY FUTURE:
Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.
iDonate | August 16, 2022
iDonate, the fastest growing digital fundraising solution for nonprofits, today announced iDonate 2.0, a completely revamped and refreshed upgrade of its SaaS online giving platform. The newly updated 2.0 solution provides an upgraded management environment that streamlines launching multi-channel fundraising campaigns, a template library of best practice forms and landing pages that improve conversion rates, an Integration Exchange for data connection (from CRM, marketing automation, and data intelligence systems), and a suite of new ‘Donor-First Optimizers’ that provide advanced capabilities to guarantee 2x fundraising growth rates in digital giving.
iDonate 2.0 solves a growing problem in the nonprofit community where organizations struggle to accelerate their digital transformation and grow new sources of revenue. A key roadblock that many nonprofits face is an ability to attract and retain new donors when they are stuck using systems that only support traditional fundraising techniques and static campaign-driven asks. With digital fundraising expected to grow in the next five years at rates similar to e-commerce (from 12-25% of an overall $450 billion in giving), nonprofit leaders are actively seeking new platforms that open up digital donation channels to web-savvy, socially connected donors who give at the point of inspiration. iDonate 2.0 is designed from the ground up to serve this need.
The new platform introduces a set of capabilities that improve overall donor acquisition, conversion, and retention rates through a patented set of built-in optimization techniques. Developed in conjunction with recognized industry leader in the digital-first fundraising space, NextAfter, iDonate 2.0 includes advanced capabilities such as point-and-click A/B testing, landing page optimization, automated recurring gift prompts and more, all integrated into the platform seamlessly to ensure fundraisers’ asks are presented clearly, personalized to donor preferences, and optimized for conversion.
“Since COVID started and the digital transformation wave began in the nonprofit industry, we’ve listened very closely to what our customers were saying about the frustrations of declining connectivity to today’s donors, Even though our customers on average were experiencing 30%+ growth rates in digital giving, we wanted to take those rates higher, in fact 2x higher. With the launch of iDonate 2.0, we are bringing to market the digital fundraising system they’ve been asking for, one that is simple to deploy, adaptable to managing any style of fundraising, optimized so today’s donors can give dynamically to campaigns they care about it, and open and extensible to embrace integrations with all the new systems that are being brought into the digital infrastructure.”
-Ray Gary, CEO of iDonate.
iDonate 2.0 is offered through three unique packages:
Core – includes the full platform with a full suite of digital giving apps for web, mobile, text-to-give, events, peer-to-peer, and noncash fundraising along with the digital amplification coaching services that deploy best practice growth strategies. The platform includes a robust analytics dashboard and automated accounting reconciliation to further simplify administration. The updated multi-channel platform allows administrators to easily deploy new online giving options in less than a day.
Professional – includes all the capabilities of the Core platform plus an Optimization Package and Digital Amplification Services powered by NextAfter. The package includes all the Donor-First Optimizers and is centered on an A/B testing system that makes tuning of forms for higher conversion a simple point-and-click exercise. The package also includes a training program that optimizes the entire system for growth.
Distributed – includes all the capabilities of the Professional version built in a distributed architecture that enables parent/child management for organizations that raise money through chapters or sub-orgs. The system operates in a federated environment and also supports centralized administration and management of programs across large fundraising networks. Ministries with mission-based fundraising teams and/or higher-education institutions that raise money for multiple colleges, branch campuses, and athletic programs can now simply deploy a connected network of digital giving solutions from one central platform.
Pricing for each package is based on an annual subscription fee, and variable platform and transaction processing fees based on the volume of giving transactions processed through the system monthly.
iDonate 2.0 is available today as an upgrade for existing customers of iDonate or to new customers seeking a best-in-class digital fundraising solution. The company offers the platform in collaboration with a broad network of partners, service providers, and systems integrators who both enhance and customize an implementation.
As nonprofits face challenges in deploying digital technologies quickly to meet the changing expectations of today’s donors, iDonate 2.0 is the first to simplify digital fundraising so nonprofits can raise more. The system is the first of its kind – a modern fundraising platform delivered in one unified system that provides a full scope of solutions to improve donor interactions, as well as execute and measure campaign success and impact.
iDonate is the fastest growing digital fundraising solution for nonprofits and the only offering based on an enterprise-scale, distributed platform designed for high-volume donation processing. Today, we are catalyzing digital fundraising growth initiatives at more than 1,100 organizations: including some of the Nation's best-known higher education institutions, health care nonprofits, churches, ministries, and social support organizations. We make a difference by enabling these organizations to connect better to today's donor through giving experiences that are easy to deploy and optimized for conversion.
Launched in 2012, iDonate Inc. is a Dallas-based company whose mission is to transform charitable giving by changing the way the world thinks – and more importantly, acts – around charitable giving. iDonate employees have a deep passion for amplifying the good that is generated each day by helping nonprofit fundraisers to easily deploy modern solutions through advanced technology.