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Business Wire
2 days ago
- Business
- Business Wire
Dot Ai, Innovator in Asset Intelligence Technology, Completes Business Combination; Will Begin Trading on Nasdaq Stock Market
LAS VEGAS & KENNESAW, Ga.--(BUSINESS WIRE)--SEE ID, Inc., doing business as Dot Ai ('Dot Ai'), a pioneering startup at the forefront of asset intelligence technology, and ShoulderUp Technology Acquisition Corp. (NYSE: SUAC) ('ShoulderUp'), today announced the closing of their previously announced business combination, which was approved by ShoulderUp shareholders at a special meeting on Feb. 6, 2025. Pursuant to the closing of the business combination, Dot Ai has become a publicly traded company, and its Class A common stock and warrants will begin trading on Nasdaq under the ticker symbols 'DAIC' and 'DAICW,' respectively, on June 23, 2025. In connection with the business combination, Dot Ai has raised $12 million in PIPE investment to support its strategic growth plans, including the expansion of R&D, Go-To-Market, and building out of its Puerto Rico-based manufacturing operations. 'Dot Ai is revolutionizing how companies manage their supply chains with our innovative, AI-fueled asset intelligence technology and proprietary software and hardware solutions,' said Ed Nabrotzky, Co-founder and CEO of Dot Ai. 'As we enter our next chapter of growth as a publicly listed company, our team remains laser-focused on continuing to execute on our new product launches, building upon our transformative partnership with industrial manufacturing leader, Würth Industry USA, and finalizing contracts with key players across a variety of sectors. Today is just the beginning of our growth story, and we look forward to our continued disruption of legacy technologies as we help companies connect the dots across their value chain.' 'In a world where supply chains are still trying to catch up with the speed of innovation, Dot Ai is not just solving problems, it's redefining possibilities. This is the kind of company that doesn't follow the future, it creates it,' said Phyllis Newhouse, CEO of ShoulderUp Technology Acquisition Corp. 'At ShoulderUp, we're proud to partner with a team that's not only disrupting an industry but transforming how the world moves, connects and scales.' Board of Directors The Company further announced today that upon the closing, Phyllis Newhouse, Holly Grey, Joanna Burkey, Jeff Saling, Dr. Sheldon Paul, Dr. David Carlson and Ed Nabrotzky are expected to join Dot Ai's Board of Directors. Additional board members are expected to be announced at a later date. About Non-Employee Directors Holly Grey has been the Chief Financial Officer of Exabeam since November 2021. Ms. Grey has over 25 years of experience in high-growth technology companies. Prior to Exabeam, from 2013 to 2020, Ms. Grey was SVP Finance at Forescout Technologies, where she was responsible for all financial and accounting operations and led Forescout through its successful initial public offering. Before Forescout, from 2008 to 2013, Ms. Grey was SVP Finance at Accuray Incorporated, a publicly traded medical device technology company. Prior to Accuray, from 2000 to 2008, Ms. Grey was VP Finance at Aspect Software, leading the organization through significant growth, including multiple M&A transactions. Ms. Grey started her career in public accounting at Boston College. Joanna Burkey is a transformational leader, board director, and senior executive with deep experience in cybersecurity, technology, and digital transformation. Joanna has held a variety of roles throughout her career, primarily focusing on cybersecurity, strategy, engineering and risk. She is passionate about increasing diversity within technology and using her decades of experience in security and risk to serve others. Her experience in crisis and risk management in addition to her technical acumen inform her boardroom expertise in the areas of audit/risk, governance and compliance. She has held senior executive roles at multiple global corporations and has lived and worked in both the U.S. and Europe. Her most recent corporate role was as the Chief Information Security Officer (CISO) at HP Inc, and she now serves as an advisor and consultant to multiple enterprises. The breadth of her roles has covered a wide spectrum from customer facing to internal shared services, and spanned company sizes from twelve employees to four hundred thousand. She has been on the front end of transformational change at technology leaders such as HP Inc and Siemens AG and is therefore able to take the best practices and lessons learned into other entities that are beginning, or are on, similar journeys of transformation. Joanna is a director and member of the audit and compensation committees at Beyond Inc (NYSE: BYON) and an independent director and chair of the risk/compliance committee at ReliabilityFirst Corporation. She is a member of the NACD Texas TriCities board and holds both Directorship Certification from NACD (National Association of Corporate Directors) and Qualified Technology Executive certification from DDN (Digital Directors Network). Joanna is also a publicly recognized thought leader and speaker with excellent communication skills. She was named to the Top 100 CISOs in 2022 and has been published in multiple articles as well as the book 'Tribe of Hackers: Security Leaders.' She has a Computer Science and Mathematics background from both Angelo State University and the University of Texas Austin, as well as a certificate in Finance and Accounting from Stanford Graduate School of Business. Jeff Saling is a serial entrepreneur, seasoned executive, and prolific investor with over 30 years of experience in launching, scaling and exiting startups in the SaaS and cloud domains. He is currently the executive director and co-founder of StartUpNV, Nevada's non-profit statewide startup accelerator, where he leads the vision, strategy and operations to support and accelerate the growth of Nevada-based startups. Jeff is also an active angel investor and co-president of Sierra Angels, one of the longest running angel groups in the U.S., and a general partner of 1864 Fund, a seed-stage venture capital fund that invests in high-potential startups outside of traditional venture enclaves. He is passionate about creating a vibrant and diverse startup ecosystem in Nevada, and he leverages his extensive network, expertise and resources to connect founders with mentors, customers, talent and capital. In addition, Jeff is an adjunct professor in the College of Engineering at the University of Nevada, Reno, where he teaches entrepreneurship and innovation courses. Dr. Sheldon W. Paul is an obstetrician-gynecologist in Las Vegas, Nevada and is affiliated with Summerlin Hospital Medical Center. He received his medical degree from University of Nevada Reno School of Medicine and has been in practice for more than 25 years. Dr. Paul has developed, owned and operated multiple clinics over his years of practice. He has also branched into other several other successful businesses and investments, including early investments in Dot Ai. Dr. Paul is a founder and controlling member of Pope Technologies LLC, which is SEE ID's primary distributor and currently subleases office space to SEE ID. He brings unique practical entrepreneurial experience to the board. Dr. David Carlson, DO, MBA, has been the Chief Medical Officer in South King County for Virginia Mason Franciscan Health since 2023. He recently served as a medical director for Seamar Community Health Centers in Pierce and Thurston Counties during 2023. Prior to joining VMFH, Dr. Carlson served as chief physician officer for MultiCare from 2017 to 2022, chief physician executive for Hospital Sisters Health System from 2014 to 2017, and chief medical officer for Conemaugh Health System in Johnstown, PA from 2007 to 2014. Previous leadership roles also include Ochsner Clinic Foundation in Baton Rouge, LA; Summit Health System in Chambersburg, PA; and Lovelace Health Systems in Albuquerque, NM. Dr. Carlson is a member and is currently Chairman of the Board for the Physician Insurance Company and has been a board member of United Way Pierce County since 2018. He has also served on the boards of the Washington Healthcare Alliance and Physicians of Southwest Washington. Dr. Carlson is a board-certified family practice physician, with a subspecialty in geriatrics. He earned his Bachelor of Science degree from Pennsylvania State University, his medical degree from Philadelphia College of Osteopathic Medicine, and his Master of Business Administration from Alvernia University. Phyllis Newhouse is a serial entrepreneur and investor, retired military senior officer and mentor. She is CEO and Co-Founder of Athena Technology Acquisition Corp., Founder and CEO of Xtreme Solutions, Inc. (XSI), and Founder of ShoulderUp. In 2020, she co-founded Athena Technology Acquisition Corp., a special purpose acquisition company (SPAC). Athena closed a $250 million IPO in March 2021, making it the only SPAC listed on the NYSE with an African American female CEO. In July 2021, the company announced it was taking concentrated solar power company, Heliogen, public in a $2 billion merger. Newhouse is also the Founder of ShoulderUp, a nonprofit she founded alongside Academy Award-winning actress Viola Davis. Dedicated to connecting and supporting women on their entrepreneurial journeys, ShoulderUp introduced ShoulderUp Ventures, the first women-founded and led influencer fund providing impact and exclusive access to a diverse portfolio of media, technology companies and sports entertainment. In 2019 alone, its members and affiliates have invested over $10 million in companies like Lime, Rent the Runway and Airbnb. As a pioneer in cybersecurity and business, she is the first woman to win an Ernst & Young (EY) Entrepreneur of the Year ® award in the technology category. She was admitted into the 2013 class of EY Entrepreneurial Winning Women, and in 2019 was inducted into the Enterprising Women Hall of Fame. Additionally, XSI received inclusion in the Inc. 5000 list in 2013 and 2014 and has been recognized as one of Women's Presidents' Organization's (WPO) 50 Fastest Growing Women-Owned Companies in the U.S. consecutively for the past six years. Passionate about women-led businesses, Newhouse teaches aspiring entrepreneurs to recognize and capitalize on their leadership skills and empowers others to operate in greatness. She has been featured in Entrepreneur, Inc., CNBC, Forbes, Yahoo Finance, Cheddar News, Bloomberg and more. She received her degree from John F. Kennedy University and currently resides in Atlanta, Georgia. For more information, please visit Edmund Nabrotzky has worked in executive leadership at multiple large public enterprises including Molex and Panasonic, as well as smaller private companies; SST, Woodhead, Omni-ID; with direct functional accountability for Sales, Marketing, Operations and Engineering. Listed as an inventor on five foundational patents in related technology, he has a valuable blend of technical expertise and broad cross-discipline business acumen. Ed has global experience as an ex-patriot executive, managing companies across Europe, India, Singapore, China and Japan. Mr. Nabrotzky has been a key member of the executive team on four previous successful exits, all by acquisition, each related to industrial communications and software systems. Ed holds a in Computer Science, MBA, is currently a Doctoral Candidate in Technology Management, and is a graduate of the Center for Creative Leadership with executive post-graduate education in negotiation at Harvard and technical product management at MIT. He is also a former Adjunct Faculty Member at the Simon Business School, University of Rochester, where he taught Entrepreneurship programs for several years. About Dot Ai At the heart of the technological revolution in asset management and security lies Dot Ai, a trailblazing SaaS service that is redefining the paradigms of asset intelligence, assurance and safety. By harnessing the power of IoT tracking technology, Dot Ai stands at the forefront of innovation, offering patented solutions that are not just advanced but transformative. Through relentless research and development, Dot Ai has pioneered a suite of technologies that empower organizations to not only streamline their logistics and supply chain processes but also bolster operational security to unprecedented levels. Leveraging state-of-the-art AI engines, cutting-edge 5G RF and BLE technology, and seamless cloud integrations, Dot Ai transcends traditional boundaries, offering real-time asset visibility and predictive analytics that integrate effortlessly with existing infrastructure. This is not just technology; it's a vision for a more secure, efficient, and connected world. Discover more about how Dot Ai is leading the charge in asset intelligence by visiting About ShoulderUp Technology Acquisition Corp. ShoulderUp stands as a beacon of strategic innovation in the ever-evolving financial sector, functioning as a Special Purpose Acquisition Company (SPAC). This firm is meticulously designed to drive pivotal business transformations by identifying and amalgamating with companies poised for growth and aligned with the ethos of disruptive innovation and leadership in the marketplace. Its mission transcends conventional financial endeavours and aims to forge powerful synergies that redefine industry landscapes and substantially elevate shareholder value. ShoulderUp catalyses growth through various strategic maneuvers including mergers, capital stock exchanges, asset acquisitions and comprehensive reorganizations. ShoulderUp is more than a mere entity—it is a dynamic force, a catalyst for transformative change, strategically positioned to shape the future of technology and business. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, including the statements regarding the anticipated timing and benefits of the proposed transactions. All forward-looking statements are based on ShoulderUp's current expectations and beliefs concerning future developments and their potential effects on ShoulderUp, SEE ID or any successor entity thereof. Forward-looking statements are based on various assumptions, whether or not identified in this press release, and are subject to risks and uncertainties. These forward-looking statements are not intended to serve as a guarantee of future performance. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) risks that the transaction disrupts current plans and operations of SEE ID, (ii) the outcome of any legal proceedings that may be instituted against SEE ID or ShoulderUp related to the Business Combination Agreement or the proposed transaction, (iii) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, (iv) the risk that SEE ID and its current and future collaborators are unable to successfully develop and commercialize SEE ID's products or services, or experience significant delays in doing so, (v) the risk that SEE ID may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all, and (vi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the S-4 Registration Statement and proxy statement/prospectus discussed above and other documents filed or to be filed by ShoulderUp, SEE ID and/or any successor entity thereof from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ShoulderUp assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Axios
5 days ago
- Entertainment
- Axios
Boston finalists shut out at James Beard Awards
The James Beard Awards named no winners in Massachusetts Monday night. But the ceremony did give a shoutout to Sullivan's Castle Island, which was named an America's Classics winner in February. Why it matters: It's the biggest night in the restaurant business. Driving the news: Jungsik Yim, the veteran chef behind Korean restaurant Jungsik in New York, won the outstanding chef award, beating Sarma's Cassie Piuma. Brookline's Merai lost to Puerto Rico-based Identidad Cocktail Bar for best new bar. Sky Haneul Kim of Gift Horse in Providence won the Best Chef: Northeast award, beating Urban Hearth owner Erin Miller and three other finalists. Yes, but: Brendan and Adrian Sullivan joined the ceremony in Chicago to celebrate their award, four months after winning the James Beard Foundation honors . "It's so surreal to be in the company that we're in tonight ... It's a 'pinch-me moment,'" Adrian Sullivan tells Axios.
Yahoo
10-06-2025
- Business
- Yahoo
KY could lose thousands of solar, battery jobs if GOP in Congress ends tax credits
A technician services photovoltaic cells. (Photo By Getty Images) A solar industry group is warning that Kentucky stands to lose out on thousands of jobs in manufacturing solar energy components and batteries if clean energy tax credits are cut short under a mega-bill moving through Congress. An analysis published in late May by the nationwide Solar Energy Industries Association (SEIA) says Republican-led efforts to curtail or sunset tax credits would cost more than 300,000 jobs across the country and sacrifice hundreds of billions of dollars of investment through the end of the decade. Some of the credits are technology neutral but benefit solar and battery manufacturing industries. Republicans in Congress axed the 'green new scam,' but it's a red state boon The U.S. House has approved the spending and tax bill, dubbed the 'big, beautiful bill' by President Donald Trump. It is now under consideration by the U.S. Senate. Republicans are using a process called reconciliation to move the bill with a simple majority of votes in the Senate, rather than the three-fifths majority usually required in the upper chamber. That means the package could become law without any Democrats' votes. The bill as it came out of the House would accelerate the phase down of tax credits benefiting clean energy production, low-emission hydrogen fuel production, components for renewable energy, carbon capture technologies and the purchase of electric vehicles. These tax credits were created under the Inflation Reduction Act in 2022 and championed by the former Biden administration. A States Newsroom analysis found the tax credits primarily benefitRepublican-controlled states. In Kentucky, where solar and battery manufacturing industries are growing though at a slower pace than in other states, the Solar Energy Industries Association estimates about 3,300 existing and potential jobs could be lost. Brenden Frazier, a board member for the advocacy organization Kentucky Solar Energy Society, said the sunsetting of tax credits could hamper the residential solar industry in the state. He said recent 'Solarize' campaigns, in which cities encourage residents to adopt solar energy in their homes and businesses, show the incentives are having a 'big impact' in terms of growing the industry in Kentucky. He said he worries about sustaining the business without the incentives. Frazier serves as the director of product and technology for the Puerto Rico-based solar panel manufacturer SOLX. Frazier said the loss of tax credits would set back solar and battery manufacturing as Kentucky, like much of the rest of the country, faces growing energy demands from prospective data centers coming onto the electricity grid. While the amount of electricity generated through solar energy in Kentucky is miniscule, the state has seen an influx of solar developers interested in setting up utility-scale solar installations. A Canadian company also announced last year it was investing over $700 million in a Shelby County manufacturing plant to build utility-scale battery storage systems. Republicans supportive of ending the tax credits have argued they are too expensive and that incentives give renewable energy an unfair advantage over fossil fuel production. Republican Kentucky U.S. Rep. Brett Guthrie in a Wall Street Journal op-ed in May said the reconciliation legislation would end spending on 'Green New Deal-style waste' and 'reverse the most reckless parts of the engorged climate spending in the misnamed Inflation Reduction Act.' Matt Partymiller, the president of the Kentucky Solar Energy Industries Association, told the Lantern the accelerated phase down of the tax credits is a 'real threat to manufacturing jobs' and to the United States' ability to compete with China on solar energy. 'We just started onshoring U.S, manufacturing of solar in earnest in the past couple of years,' Partymiller said. 'A lot of these incentives are really tied to that, and if they go away, I think this whole manufacturing industry that was just created largely stops with it.' Solar panel manufacturers across the country have significantly ramped up production in recent years to meet a boom in utility-scale solar energy development, producing enough solar panels to generate nearly 52 gigawatts of electricity. China has historically controlled much of the world's solar panel production as the country has subsidized production. The U.S. Senate will likely change the version of the reconciliation bill that passed the U.S. House in May. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Associated Press
23-05-2025
- Business
- Associated Press
Madison Insurance Group Expands Leadership Team with Key Appointments
Madison Insurance names Humberto Torres, Armondo Torres, and LeAnn Rivera to key roles. Humberto Torres replaces Ricardo Rivera, who served as CFO until 2024 'We're strengthening our executive infrastructure to match the scale and sophistication of our business.'— Mark Sims, President, Madison Insurance Group SAN JUAN, PUERTO RICO, May 23, 2025 / / -- Madison Insurance Group has appointed Humberto Torres as Corporate and Financial Controller and promoted Armando Torres to Chief Compliance Officer, strengthening its executive structure to support continued growth and regulatory integrity. The firm also named LeAnn Rivera as Chief Operating Officer, Puerto Rico. Humberto Torres replaces Ricardo Rivera, who served as Chief Financial Officer from 2022 until his departure in November 2024. This appointment reflects Madison's shift to a distributed financial leadership model focused on enhancing internal controls, compliance, and operational efficiency. Humberto Torres will oversee financial reporting and control functions across Madison's domestic and international operations, working closely with auditors, regulators, and senior management. After two years at Madison, Armando Torres will now lead the company's compliance program, ensuring adherence to KYC (Know Your Customer), AML (Anti-Money Laundering) requirements, and other regulatory frameworks. His expanded role sharpens Madison's focus on risk management and enterprise transparency. LeAnn Rivera, with a strong background in financial operations across global markets, will manage execution and strategic development for Madison's Puerto Rico-based entities. 'We're strengthening our executive infrastructure to match the scale and sophistication of our business,' said Mark Sims, President of Madison Insurance Group. 'Humberto brings deep expertise in corporate finance and governance, Armondo sharpens our compliance posture, and LeAnn drives operational clarity as we grow.' These appointments underscore Madison's commitment to responsible expansion and regulatory excellence. For more information, visit Ania Kubicki Angles Communications +1 480-277-9245 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
21-05-2025
- Business
- Yahoo
Mounir Kabche Leads the Charge in Sustainable Innovation Across Latin America and the Caribbean
Mounir Kabche continues to make waves in Latin America and the Caribbean with groundbreaking initiatives. New York, NY , May 21, 2025 (GLOBE NEWSWIRE) -- Visionary investor, entrepreneur, and strategist Mounir Kabche continues to make waves in Latin America and the Caribbean with groundbreaking initiatives that blend financial acumen, clean energy, manufacturing innovation, and a deep commitment to sustainable development. With over 20 years of experience across four major sectors—finance, energy, manufacturing, and real estate—Kabche's leadership is reshaping the region's industrial and environmental landscape. Mounir Kabche Currently based in Puerto Rico under the Act 60 incentive regime, Kabche has become a prominent force in advancing energy self-sufficiency and revitalizing obsolete infrastructure. His work spans several high-impact companies and projects, all aimed at fostering economic growth, energy resilience, and regional transformation. Kabche is the Managing Partner of Conexsol PR, a company specializing in custom solar solutions for industrial, commercial, and residential markets. Conexsol's flagship project in Humacao is converting unused industrial spaces into a regional solar energy hub—paving the way for cleaner power and job creation in Puerto Rico. As Chairman of SolarGrid Dynamics, he focuses on the integration of advanced energy systems that promote automation, operational efficiency, and smart resource use. Additionally, as President of InnovateTech, a Puerto Rico-based manufacturer of agricultural technologies, Kabche leads efforts to modernize agriculture with next-generation inputs such as hydroponic equipment and eco-friendly growing media. This initiative supports sustainable farming while boosting productivity across the Caribbean. Kabche's strategic influence extends to the financial sector, where he has played a key role in the restructuring of Banco Caroní, implementing modernization strategies that have strengthened the institution's market position in Venezuela. 'Purposeful innovation is not just a business goal—it's a moral imperative,' says Kabche. 'In today's world, where environmental challenges and economic disparities often go hand in hand, we have a responsibility to create solutions that are both intelligent and inclusive. We are transforming outdated infrastructures into engines of opportunity, not only generating clean energy but also breathing new life into communities that have long been overlooked. By investing in renewable energy and sustainable industrial practices, we're catalyzing economic growth, job creation, and resilience in regions that need it most. This is about more than business—it's about building a future where innovation serves people, the planet, and progress equally. Through strategic partnerships and bold action, we are working to ensure that sustainable development becomes the foundation of long-term prosperity across Latin America and the Caribbean.' His future-forward agenda includes the expansion of solar capacity in Humacao, market entry into the Dominican Republic and Virgin Islands, and the development of vertical urban farming systems. Energy storage innovations integrated with solar systems are also on the horizon, targeting greater resilience in disaster-prone areas. For press inquiries, strategic alliances, or more information on projects, please contact Mounir Kabche through: Email: contact@ Website or through Our reach out directly through Social Media: About Mounir Kabche Mounir Kabche is a investor with a strategic presence in Latin America and the Caribbean. Through companies like Conexsol PR, SolarGrid Dynamics, and InnovateTech, he drives innovation in renewable energy, sustainable agriculture, and financial modernization. Kabche's work is guided by a commitment to long-term impact and regional growth. ### Media Contact Mounir Kabchecontact@ 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
