Neology Receives $50 Million of Capital Injection to Accelerate Smart Mobility Solutions

Investment from AINDA Expands Innovation and Scale to Modernize Mobility, Support Sustainable Growth and Help Communities Thrive

SAN DIEGO, Dec. 22, 2021 (GLOBE NEWSWIRE) — Neology, a global innovator that is re-imagining mobility for smart cities and safer communities, today announced a successful investment of $38 million (thirty-eight million dollars) from AINDA, a private equity firm focused on infrastructure, in addition to $12 million (twelve million dollars) of cash coming from Neology’s subsidiary for a total of $50 million (fifty million dollars) in cash.

The infusion of capital will support Neology’s expansion, accelerate the company’s growth, and allow it to pursue inorganic growth opportunities.

Following the transaction, Neology will collaborate with AINDA on strategic value creation initiatives designed to accelerate the business’s existing growth trajectory in Mexico and South America.

“Neology’s expertise in electronic toll collection, enforcement, and smart mobility solutions together with AINDA’s direct experience in transportation projects and investments in highway Infrastructure in Mexico will drive double-digit growth going forward,” said Francisco Martinez de Velasco, CEO of Neology.

“AINDA is delighted to partner with Neology in Latin America to offer solutions that provide: 1) a better journey to toll road users through well-designed, consumer-centric technologies that supply contactless toll road fee payments systems, robust account management, and real-time notifications; 2) a new responsible way for people to use transportation in large metropolitan areas with smart mobility technologies that optimize convenience, revenue generation, and the journey experience; 3) an efficient enforcement platform based on artificial intelligence (AI) and deep learning that will help advance clean air zones, reduce congestion, improve security, and other law enforcement initiatives,” said Manuel Rodriguez Arregui, CEO of AINDA.

About Neology
Neology is re-imagining mobility to help our customers accelerate their vision for smart cities and safer communities. Our Mobility Platform™ is setting the industry standard through a unique combination of AI-powered adaptive solutions, a proven integration process, and unparalleled lifecycle support. Backed by a culture of innovation, our mobility experts work closely with global customers and a top-tier partner ecosystem to connect existing infrastructure assets with next-generation technology to modernize the way people move. To create safer, cleaner, more efficient mobility experiences, visit www.neology.net. 

About AINDA
AINDA Energía & Infraestructura is a private equity fund (CKD) whose main objective is to carry out investments in energy and infrastructure projects in Mexico. AINDA has a unique approach supported by its team that brings together the experience and knowledge to seek the success of investment and private capital management, in addition to having a corporate governance made up of world-class independent directors.

Neology Media Contact:
Kelly Foster
kelly@johnkellyfoster.com
+1 619-846-8229

US Chipmaker’s Apology to China Draws Criticism

U.S. chipmaker Intel is facing criticism in China after it apologized Thursday for a letter the firm sent to suppliers asking them “to ensure that its supply chain does not use any labor or source goods or services from the Xinjiang region.”

On Thursday, Intel posted a Chinese-language message on its WeChat and Weibo accounts apologizing for “trouble caused to our respected Chinese customers, partners and the public. Intel is committed to becoming a trusted technology partner and accelerating joint development with China.”

Intel’s apology came as U.S. President Joe Biden signed the Uyghur Forced Labor Prevention Act, which bans the import of goods produced by Uyghur slave labor. Under the measure, a company is prohibited from importing from China’s Xinjiang region unless it can prove that its supply chains have not used labor from Uyghurs, ethnic Muslims reportedly enslaved in Chinese camps.

Beijing denies complaints of abuses in the mostly Muslim region.

Intel is just the latest multinational firm to be caught up in the struggle over the Uyghurs issue as China prepares to host the Winter Olympics in February. Intel is among the International Olympic Committee sponsors. According to Reuters, 26% of Intel’s 2020 total revenue was earned in China.

Earlier this month, Intel’s letter to suppliers asking them to be sure not to use labor, products or services from Xinjiang cited restrictions imposed by “multiple governments.”

That sparked a backlash in China, with calls for a boycott and criticism of the company in state and social media. Global Times, a Chinese state-run newspaper, called Intel’s request to suppliers “arrogant and vicious,” according to reports.

Wang Junkai, also known as Karry Wang, a singer with the popular boy band TFBOYS, said on Weibo on Wednesday that he would not serve as an Intel brand ambassador. “National interests exceed everything,” he said, according to wire service reports.

Chinese officials acknowledged Intel’s apology.

China’s Foreign Ministry spokesperson said at a daily briefing in Beijing that “we note the statement and hope the relevant company will respect facts and tell right from wrong,” according to Reuters.

The White House also appeared to note the company’s apology.

Without naming Intel, Jen Psaki, the White House press secretary, said at a briefing Thursday that U.S. companies “should never feel the need to apologize for standing up for fundamental human rights or opposing repression,” according to reports.

Source: Voice of America

Australia Considers Charging Unvaccinated Residents for COVID-19 Hospital Care

A suggestion by Australia’s most populous state to charge unvaccinated people for COVID-19 medical costs has received widespread criticism. The New South Wales proposal has angered doctors and some federal politicians, who argue that health care in Australia is free and universal.

The New South Wales government has said that unvaccinated patients being treated for COVID-19 have been irresponsible and have burdened taxpayers with “very substantial costs.” And they could be forced to pay for their hospital care.

“There already is two classes of the hospital system because you have got the unvaccinated that are there because they have not been taking responsibility for their actions, and you have got the vaccinated there who have got a genuine requirement for health care, said State Transport Minister David Elliott.

But members of Australia’s federal government have been skeptical about making unvaccinated COVID-19 patients pay for their treatment. The Australian Medical Association said the proposal was “unethical,” and it doubted that it was even legal.

The president of the Royal Australian College of General Practitioners, Dr. Karen Price, told the Australian Broadcasting Corp. that it would affect disadvantaged communities.

“We might make all sorts of judgments on people who smoke or have an unhealthy lifestyle, and the unvaccinated would be a large cohort of those people who might have low health literacy, and we know in some of our Indigenous communities where vaccination rates are low, this would be an unethical procedure to implement,” he said.

Ninety percent of eligible Australians are fully vaccinated.

On Thursday, New South Wales recorded 5,715 COVID-19 cases — a new daily record for any Australian jurisdiction during the pandemic.

Testing clinics have been overwhelmed as Australians rush to be screened ahead of Christmas. A negative result is required for travel between various states and territories.

Western Australia has become the first jurisdiction to introduce mandatory COVID-19 booster shots for certain sections of its population.

It is also reintroducing internal border controls with Tasmania and the Northern Territory to try to curb the spread of the omicron variant. Entry into Western Australia from other parts of the country will be prohibited without an exemption.

Source: Voice of America