|By Marketwired .||
|April 17, 2014 06:21 AM EDT||
MONTVALE, NJ -- (Marketwired) -- 04/17/14 -- Beneficial Holdings Inc. (OTC Pink: BFHJ) (PINKSHEETS: BFHJ) today announced that its Energy Management Subsidiary, BFHJ Energy Solutions, LLC, completed its previously-announced acquisition of Green Econometrics.
The Company issued 600,000 restricted common shares and assumed a two-year, $300,000 note to complete the transaction. Michael S. Davies, Managing Director of Green Econometrics, will become an Executive Vice President of Beneficial Holdings, Inc. and Chief Operating Officer of the Company's energy management operation, BFHJ Energy Solutions, LLC.
Green Econometrics (www.greenecon.net) provides industry level analysis of the energy and renewable energy sectors and consulting services to green technology companies and the 'built' environment; including the finance, design, operation and validation of complete energy management solutions. Among other engagements, Green Econometrics was an energy management consultant to the New Jersey Department of Transportation, designing and implementing a state-of-the-art energy management system for their headquarters building in Trenton, NJ.
Davies is a Chartered Financial Analyst and spent a significant part of his career analyzing and consulting with small-cap and mid-cap companies with break-through technologies. He is the author of numerous articles on the economics of energy, alternative energy and energy management technologies as well as the soon to be published book "Analytics 2 Insight - Roadmap to Data Driven Operations".
Davies, through Green Econometrics, served as a consultant to Green RG for the past two years. He originated and structured the recent historic re-lamping of the Lincoln Tunnel for the Port Authority of New York/New Jersey. That project included a collaboration with the Port Authority, Facilities Solutions Group and Constellation Energy. As a result of his vision, the Port Authority recorded an approximate 50% savings in operating expenses for lighting all three tubes of the Lincoln Tunnel and cut their replacement costs by a third. The project utilized Green RG's LED lighting solution.
In his role as COO of BFHJ Energy Solutions, LLC, Davies will be instrumental in creating value from Beneficial Holding's recently-announced license arrangement with Green RG. His initial emphasis will be to coordinate the integration of embedded sensors for remote monitoring and adaptive control lighting across product lines including Beneficial Holding's joint pursuit with Green RG of its Jamaican solar powered LED streetlight project.
The Company's Chairman, President and CEO, Gregory N. Senkevitch stated: "Mike Davies originated our transaction with Green RG. He has significant experience in the integration of sensor technology, 'Big Data' and analytics with energy management solutions. He and Green Econometrics have done significant research in the economics of energy management and have identified several break-through technologies and trends. The acquisition of Green Econometrics gives us a significant leg up on our energy management business segment and adds a credible, technology integrator for our solutions team."
Davies added: "We are standing at the beginning of the movement to integrate energy management with sensors, machine-to-machine communications, data analytics and innovative technologies. Beneficial Solutions has the capabilities to take advantage of this trend. I look forward to combining my experience and insights to the Company's focus on providing solutions to the 'built' environment."
Senkevitch concluded: "Our due diligence over the past several months indicated that Beneficial Holdings shareholders were best served by structuring the previously-announced energy management sector transactions as we did. With Green Econometrics, we have the core of an energy management business. It will be easier to ramp up under this structure than it would have been via a direct acquisition of a products manufacturer. Beneficial Holdings is about providing solutions to the 'built' environment. Green Econometrics has solid, proven solutions, the contacts and the vision to implement our plan at a much lower investment and shorter time frame and higher profit retention than if we completed the Green RG transaction as originally proposed."
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is a holding company seeking to acquire and invest in operating service-oriented businesses in the real estate, financial services and energy management sectors.
For more information on the Company please visit our web site at www.beneficial-holdings.net.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook" and similar expressions.
The forward-looking statements contained in this news release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends and economic recoveries.
All information in this release is as of April 17, 2014. The Company does not undertake a duty to update forward-looking statements, including its projected operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company may, in its discretion, provide information in future public announcements regarding its outlook that may be of interest to the investment community.
GREG McANDREWS & ASSOCIATES
Gregory A. McAndrews
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 27, 2017 12:00 AM EDT Reads: 9,119
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 26, 2017 09:45 PM EDT Reads: 2,592
Is your application too difficult to manage? Do changes take dozens of developers hundreds of hours to execute, and frequently result in downtime across all your site’s functions? It sounds like you have a monolith! A monolith is one of the three main software architectures that define most applications. Whether you’ve intentionally set out to create a monolith or not, it’s worth at least weighing the pros and cons of the different architectural approaches and deciding which one makes the most s...
Apr. 26, 2017 08:30 PM EDT Reads: 2,795
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
Apr. 26, 2017 04:30 PM EDT Reads: 1,784
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 26, 2017 02:45 PM EDT Reads: 512
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 26, 2017 01:00 PM EDT Reads: 3,547
This recent research on cloud computing from the Register delves a little deeper than many of the "We're all adopting cloud!" surveys we've seen. They found that meaningful cloud adoption and the idea of the cloud-first enterprise are still not reality for many businesses. The Register's stats also show a more gradual cloud deployment trend over the past five years, not any sort of explosion. One important takeaway is that coherence across internal and external clouds is essential for IT right n...
Apr. 26, 2017 08:45 AM EDT Reads: 1,712
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Apr. 26, 2017 07:45 AM EDT Reads: 3,284
To more closely examine the variety of ways in which IT departments around the world are integrating cloud services, and the effect hybrid IT has had on their organizations and IT job roles, SolarWinds recently released the SolarWinds IT Trends Report 2017: Portrait of a Hybrid Organization. This annual study consists of survey-based research that explores significant trends, developments, and movements related to and directly affecting IT and IT professionals.
Apr. 26, 2017 04:30 AM EDT Reads: 1,697
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Apr. 25, 2017 10:30 PM EDT Reads: 7,232
In large enterprises, environment provisioning and server provisioning account for a significant portion of the operations team's time. This often leaves users frustrated while they wait for these services. For instance, server provisioning can take several days and sometimes even weeks. At the same time, digital transformation means the need for server and environment provisioning is constantly growing. Organizations are adopting agile methodologies and software teams are increasing the speed ...
Apr. 25, 2017 08:15 PM EDT Reads: 3,366
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
Apr. 25, 2017 06:00 AM EDT Reads: 4,338
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Apr. 25, 2017 03:15 AM EDT Reads: 8,914
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Apr. 25, 2017 03:00 AM EDT Reads: 5,951
Software as a service (SaaS), one of the earliest and most successful cloud services, has reached mainstream status. According to Cisco, by 2019 more than four-fifths (83 percent) of all data center traffic will be based in the cloud, up from 65 percent today. The majority of this traffic will be applications. Businesses of all sizes are adopting a variety of SaaS-based services – everything from collaboration tools to mission-critical commerce-oriented applications. The rise in SaaS usage has m...
Apr. 22, 2017 06:15 PM EDT Reads: 4,867
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, drew upon his own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He also discussed the implementation of microservices in data and application integrat...
Apr. 22, 2017 05:45 AM EDT Reads: 6,250
We'd all like to fulfill that "find a job you love and you'll never work a day in your life" cliché. But in reality, every job (even if it's our dream job) comes with its downsides. For you, the constant fight against shadow IT might get on your last nerves. For your developer coworkers, infrastructure management is the roadblock that stands in the way of focusing on coding. As you watch more and more applications and processes move to the cloud, technology is coming to developers' rescue-most r...
Apr. 22, 2017 04:00 AM EDT Reads: 4,122
2016 has been an amazing year for Docker and the container industry. We had 3 major releases of Docker engine this year , and tremendous increase in usage. The community has been following along and contributing amazing Docker resources to help you learn and get hands-on experience. Here’s some of the top read and viewed content for the year. Of course releases are always really popular, particularly when they fit requests we had from the community.
Apr. 22, 2017 03:45 AM EDT Reads: 3,609
Even for the most seasoned IT pros, the cloud is complicated. It can be difficult just to wrap your head around the many terms and acronyms that make up the cloud dictionary-not to mention actually mastering the technology. Unfortunately, complicated cloud terms are often combined to the point that their meanings are lost in a sea of conflicting opinions. Two terms that are used interchangeably (but shouldn't be) are hybrid cloud and multicloud. If you want to be the cloud expert your company ne...
Apr. 21, 2017 04:15 PM EDT Reads: 2,260
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 18, 2017 03:30 PM EDT Reads: 4,461