Shenango Valley Shuttle Service Launches Mobile Fare Collection Platform, RideSVSS, on June 16
HERMITAGE, Pa.--(BUSINESS WIRE)--The Shenango Valley Shuttle Service, operated by the Mercer County Regional Council of Governments (COG), launches a new digital fare payment platform on June 16, designed to bring convenience and flexibility to riders across the Shenango Valley. The third generation fare collection system, developed in partnership with Modeshift, introduces contactless mobile payments and ticketing, allowing riders to pay and board with a tap of their smartphone.
Riders can now use a free app to purchase fares and validate their trip by scanning a QR code onboard. While the mobile system marks a major step forward in transit modernization for the region, cash payments will still be accepted on all Shenango Valley Shuttle Service routes to offer riders flexible payment options.
Standard one-way fares remain $1.25. A new One-Day Pass is also available for riders who plan to make multiple trips in a single day. One-Day passes must be purchased through the app or at the customer service center located at 2495 Highland Rd. Hermitage, PA.
'Our goal is to ensure we're serving the needs of the Mercer County and Shenango Valley communities as they evolve,' said Jill Boozer, Executive Director of the Mercer County Regional COG. 'By introducing new technology, we're not only making transit more convenient but also opening the door to future improvements that reflect how people live and travel today.'
Key features of the new system include:
Mobile App: Riders can download the app for Apple or Android devices, enabling fare payment and QR-code ride validation directly from their smartphones. The app is available now to download in both Apple and Google Play Stores:
iOS: https://apps.apple.com/us/app/ride-svss/id6742326077
Android: https://play.google.com/store/apps/details?id=com.modeshift.mercer
One-Day Pass Option: A new pass type designed for added convenience and value for riders making multiple trips in a day.
Web Portal: Riders can take advantage of RideSVSS' features through a convenient online portal that streamlines fare purchases and trip planning.
Visit www.ridesvss.mcrcog.com/go-mobile for more details.
Smart Pay Account: Custom profiles to manage travel, view past purchases, buy passes and add funds to smart cards or digital wallets.
Smart Cards: For riders who prefer not to use their phones, reloadable smart cards connected to e-wallets offer an easy, tap-and-go alternative.
Data-Driven Planning: The digital platform provides real-time usage insights to help inform future service changes and improvements.
'This launch is about more than just going digital, it's about laying the foundation for a transit system that's responsive, forward-looking, and easier to use,' said Miroslav Katsarov, CEO of Modeshift. 'Shenango Valley is joining a growing movement of agencies using modern fare collection to connect more meaningfully with the communities they serve.'
The new digital platform does not apply to the Mercer County Community Transit, which continues to operate separately. The shuttle currently operates four fixed routes, Monday through Friday 8:00 am- 5:00 pm, and two on Saturday 8:00 am- 4:00 pm, excluding Sundays and select holidays.
To learn more about the Shenango Valley Shuttle Service partnership and other initiatives, visit www.modeshift.com.
About Modeshift
Modeshift, Inc. is a technology company that helps transit agencies modernize their user-facing technology and the underlying infrastructure to improve efficiency, increase ridership and provide adequate, sustainability-oriented service. It is the only all-in-one digital mobility infrastructure platform that also gives the transit industry the tools to reduce their carbon emissions and aim for sustainability.
Our core product is Account-based Fare Collection System, based on the Microsoft Azure cloud and delivered as a service (Software as a Service – SaaS). Modeshift also provides other subsystems which complete the stack of hardware and software needed to operate a modern transit system such as Mobile ticketing, AVL/CAD and real-time passenger information.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
36 minutes ago
- Business Wire
Renesas Announces Expected Loss Resulting from Signing Restructuring Support Agreement with Wolfspeed
TOKYO--(BUSINESS WIRE)--Renesas Electronics Corporation (TSE: 6723, "Renesas"), a premier supplier of advanced semiconductor solutions, today announced that it has entered into a Restructuring Support Agreement (the "Restructuring Support Agreement") with Wolfspeed, Inc. (NYSE: WOLF, "Wolfspeed") and its principal creditors for the financial restructuring of Wolfspeed. As a result, Renesas expects to record a loss as described below. 1. Details of Loss As , Renesas entered into the silicon carbide wafer supply agreement with Wolfspeed, and through Renesas' wholly owned subsidiary in the United States, it provided a deposit (the "Deposit") of US$2 billion (approximately 292.0 billion yen) to Wolfspeed. In October 2024, Renesas and Wolfspeed amended their agreement and increased the outstanding principal amount of the Deposit to US$2.062 billion (approximately 301.1 billion yen). Subsequently, Wolfspeed has experienced financial challenges. On May 8, 2025, during its quarterly earnings call, Wolfspeed disclosed that to achieve its stated goal of strengthening its balance sheet, it may implement a transaction through an in-court solution. Due to Wolfspeed's contemplation of an in-court option, Wolfspeed included required going concern language in the footnotes to its financial statements for the quarterly period ended March 30, 2025. In response to this situation, Renesas has been engaging in discussions with Wolfspeed and today entered into the Restructuring Support Agreement among Wolfspeed and its principal creditors, pursuant to which Renesas agreed to, among other things, convert the Deposit of US$2.062 billion into convertible notes, common stock, and warrants issued by Wolfspeed as follows (the 'Restructuring'). Wolfspeed convertible notes: US$204 million (approximately 29.8 billion yen) in aggregate principal amount, convertible to Wolfspeed common stock, maturing in June 2031. These notes are convertible into 13.6% of Wolfspeed's total issued shares on a non-diluted basis at the time of the completion of the Restructuring. On a fully diluted basis, and prior to the exercise of the warrants to be granted to Renesas, this corresponds to 11.8%. Wolfspeed common stock: equivalent to 38.7% (17.9% on a fully diluted basis, prior to Renesas warrants exercise) of the total number of issued shares of Wolfspeed at the completion of the Restructuring. Wolfspeed warrants: equivalent to 5% (on a fully diluted basis) of the total number of issued shares of Wolfspeed at the completion of the Restructuring. The Restructuring is expected to be consummated through proceedings under Chapter 11 of the U.S. Bankruptcy Code. It is expected that Wolfspeed will file a petition with the court to initiate such proceedings in the near future. The Restructuring is expected to become effective by the end of September 2025, subject to court approval of the restructuring plan. If the necessary regulatory approvals have not been obtained by the time the Restructuring takes effect, Renesas will hold rights to instruments with equivalent economic value to Wolfspeed's convertible notes, common stock, and warrants until those approvals are received. In connection with the signing of the Restructuring Support Agreement, Renesas expects to record a loss on the deposited receivables related to the Deposit in its consolidated financial statements. Although the timing and amount of such loss have not been determined at this time, Renesas believes that there is a possibility of recording a loss of approximately 250 billion yen (converted at an average exchange rate of 150 yen to the dollar during the period) in the consolidated financial statements for the six months ending June 30, 2025. Please note that this amount is an estimate calculated by Renesas' internal analysis based on the currently available information and may increase or decrease due to various factors. The definitive timing and amount of the loss to be recorded will be determined in consultation with Renesas' auditor and will be announced once it is determined. 2. Future Outlook Renesas discloses revenue, gross margin, and operating margin on a "Non-GAAP" basis and does not disclose a forecast for profit attributable to owners of parent. Therefore, there is no change to the forecast for the six months ending June 30, 2025, announced on April 24, 2025. (Note1) Unless otherwise indicated, yen equivalents in this material are calculated using the exchange rate as of June 20, 2025: 146 yen to the dollar. (Note2) Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS basis) figures following a certain set of rules. Renesas believes non-GAAP measures provide useful information in understanding and evaluating its constant business results, and therefore, forecasts are provided on a non-GAAP basis. This adjustment and exclusion include the amortization of intangible assets recognized from acquisitions, other PPA (purchase price allocation) adjustments and stock-based compensation, as well as other non-recurring expenses and income Renesas believes to be applicable. Expand About Renesas Electronics Corporation Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram. (FORWARD-LOOKING STATEMENTS) The statements in this press release with respect to the plans, strategies and financial outlook of Renesas and its consolidated subsidiaries (collectively 'we') are forward-looking statements involving risks and uncertainties. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, we use such words as 'aim,' 'anticipate,' 'believe,' 'continue,' 'endeavor,' 'estimate,' 'expect,' 'initiative,' 'intend,' 'may,' 'plan,' 'potential,' 'probability,' 'project,' 'risk,' 'seek,' 'should,' 'strive,' 'target,' 'will' and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements discuss future expectations, identify strategies, contain projections of our results of operations or financial condition, or state other forward-looking information based on our current expectations, assumptions, estimates and projections about our business and industry, our future business strategies and the environment in which we will operate in the future. Known and unknown risks, uncertainties and other factors could cause our actual results, performance or achievements to differ materially from those contained or implied in any forward-looking statement, including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar; and risks and uncertainties associated with Wolfspeed's proceedings under Chapter 11 of the U.S. Bankruptcy Code, including Wolfspeed's ability to maintain relationships with suppliers, customers, employees and other third parties and regulatory authorities as a result of such proceedings, and other factors discussed in Wolfspeed's filings with the U.S. Securities and Exchange Commission. Among other factors, a downturn of the world economy; deteriorating financial conditions in world markets, or a deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. This press release is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither we nor our advisors or representatives are under an obligation to update, revise, or affirm.
Yahoo
an hour ago
- Yahoo
Which AI Stocks Are Set to Soar in the Second Half?
Artificial intelligence is an area of enormous potential for companies and investors. After a few difficult months, AI stocks could resume their 2024 momentum and soar in the second half. Three in particular could lead the way. 10 stocks we like better than Nvidia › Artificial intelligence (AI) stocks skyrocketed in 2024 amid excitement about this technology that could revolutionize businesses, saving time and money and leading to important discoveries. These players faced a few difficult months recently due to concerns about a potential economic slowdown. However, some of the uncertainty has passed, suggesting better days may be ahead for AI stocks. Against this backdrop, Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Amazon (NASDAQ: AMZN) are set to soar in the second half. Here's why. President Donald Trump's plan to impose tariffs on imports weighed on technology stocks, including AI chip giant Nvidia, several weeks ago. This pushed Nvidia down nearly 30% from the start of the year through early April. Though the president initially exempted electronics products, this exemption was temporary, suggesting chips and other items would face tariffs at some point in the near future. But Nvidia has since rebounded, thanks to optimism that tariffs won't be as steep as originally expected and as the company showed the strength of its earnings through the first quarter of the year. Nvidia's revenue surged 69% to $44 billion, demand remained strong, and customer comments indicate that their spending plans for the year remain intact. This bodes well for ongoing growth for Nvidia. On top of this, the chip giant is making investments in U.S. manufacturing to limit any eventual tariff impact and sticks to its plan to update chips on an annual basis -- a move that should keep it ahead of rivals. Today, Nvidia trades for only 33 times forward earnings estimates, down from about 50 times just a few months ago, and this level offers the stock plenty of room to run in the second half. Among all the top tech stocks, Apple may be the one that has suffered the most amid the recent tariff turbulence. Trump, displeased that Apple has generally produced most iPhones abroad, even threatened to impose a 25% tariff on Apple's imported iPhones. Meanwhile, Apple has made efforts to diversify its manufacturing, with a plan to move much of it from China to India. Uncertainty remains as the president wants Apple to bring iPhone production to the U.S., but doing this could result in a drastically higher price for the smartphone. All of this has hurt Apple stock, which is down about 20% since the start of the year. I view this as a buying opportunity because I don't think the U.S. aims to destroy Apple's growth. It's possible that both parties will reach a reasonable agreement. Meanwhile, any positive news on the subject could result in Apple stock bouncing back in the coming months. It's important to remember that Apple has built a very profitable smartphone empire with a tremendous moat, or competitive advantage, and these elements should support growth over the long term. All of this means that buying Apple now may result in gains in the coming months, but even better, set you up for a long-term win. Amazon's performance has been sluggish in recent times, with a 3% decline for the year, amid concerns that tariffs could hurt its e-commerce business and cloud computing unit, Amazon Web Services (AWS). But as mentioned above, the worst-case tariff scenario has been avoided, and the U.S. is making progress on trade agreements. So, I wouldn't expect to see a major impact from the tariffs on Amazon's growth. A key point is that Amazon has revamped its cost structure in recent years after facing pressure from rising inflation. This helped the company return to growth in just one year, and the efforts have positioned it well to maximize profit during future challenging times. So, these cost structure moves should help Amazon manage any potential tariff situation moving forward. And events such as Prime Day, which take place in the second half of the year, could help boost revenue. AWS has also been seeing tremendous growth from its AI efforts, which have helped it reach a $117 billion annual revenue run rate. We're still early in the AI story, so I would expect to see ongoing growth in this area, particularly since AWS is the world's No. 1 cloud service provider. Today, Amazon shares trade for 34 times forward earnings estimates, a reasonable level that could prompt investors to buy -- and help the stock take off in the second half. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Adria Cimino has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Apple, and Nvidia. The Motley Fool has a disclosure policy. Which AI Stocks Are Set to Soar in the Second Half? was originally published by The Motley Fool
Yahoo
2 hours ago
- Yahoo
Why Danny Boyle shot ‘28 Years Later' on iPhones
Director Danny Boyle famously shot his post-apocalyptic classic '28 Days Later' on Canon digital cameras, making it easier for him to capture eerie scenes of an abandoned London, and giving the movie's fast-moving zombies a terrifying immediacy. To make his decades-later sequel '28 Years Later' (which opened this weekend), Boyle turned to a different piece of consumer tech — the iPhone. Boyle told Wired that by using a rig that could hold 20 iPhone Pro Max cameras, the filmmaking team created 'basically a poor man's bullet time,' capturing the brutal action scenes from a variety of angles. Even when he wasn't using the rig, Boyle (who once directed a biopic of Apple co-founder Steve Jobs) said the iPhone was the movie's 'principal camera,' albeit after disabling settings like automatic focus and adding special accessories. 'Filming with iPhones allowed us to move without huge amounts of equipment,' Boyle said, adding that the team was 'able to move quickly and lightly to areas of the countryside that we wanted to retain their lack of human imprint.' 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
