intelligence360

The Intelligent News Source

Tag: Wolar Industrial

Wolar Industrial, Inc. has secured $3,039,000.00 in commercial capital for expansion in Houston Texas.

Houston, TX — Wolar Industrial, Inc. has secured $3,039,000.00 in new commercial financing for expansion opportunities in Houston. According to the company website, Wolar has become one of the largest ring type joint manufacturers in…

intelligence360

Bally’s, one of the biggest gambling and interactive entertainment companies in the United States, has secured funding for its $1.7 billion casino and hotel project in downtown Chicago. The Rhode Island-based company reports that it has secured the additional $940 million needed to fully fund the project. Located in Chicago's River West neighborhood, the 30-acre property was previously the site of the Chicago Tribune printing plant, which is due for demolition. Gaming and Leisure Properties entered a deal with Bally’s for the project, as the sports betting and entertainment operator is partnered with the Pennsylvania real estate investment trust to receive $2.07 billion in total financing transactions. GLP’s role is to buy, finance, and own the property while leasing it back to Bally’s. The current grand opening date for Bally’s Chicago Casino and Hotel is September 2026, all performed in a single phase instead of two, modifying previous planning operations. Brandenburg Industrial Service Co. is the project's primary demolition contractor and is currently prepping the printing plant site. Chicago City Council has approved the casino plan, but Bally’s is still awaiting city approval for the hotel plan.

In a statement George Papanier, president of Bally’s said, “With keys to the property in hand, the new financing secured, a site plan that exceeds the original and demolition set to start this summer, let there be no doubt that Bally’s Chicago Casino and Hotel will soon rise up along the Chicago River” “We’ve been working hard in the background to restore the full hotel tower for Bally’s Chicago Casino and absolutely intend to meet the September 2026 opening date as planned.”

Chicago Community Builders Collective will serve as the project's general contractor and oversee executing the newly released plans for the hotel and relocating its original build to the other side of the site to avoid city water pipe obstruction next to the Chicago River. The new hotel will feature a pool spa and sun deck along with a rooftop restaurant bar, courtesy of HKS Chicago, a hospitality and entertainment design service. The proposal also includes up to six restaurants, a 2-acre public park, and a 3,000-seat theater. The property will also have a 2,000-foot-long extension connected to the Chicago riverwalk.

Source: http://www.intelligence360.io/ and https://intelligence360.news/

Speak, the AI language tutor, announced that it has raised $20M in Series B-3 financing, doubling its valuation to $500 million USD in less than a year. Buckley Ventures led the round with participation from all existing investors (OpenAI Startup Fund, Khosla Ventures, among others) and new strategic investors Paul Graham and Jeff Weiner. The round brings total funding to date to $84 million. Disrupting the $100 billion+ online and in-person language learning market, Speak's AI language tutor builds a path toward spoken fluency without reliance on human conversation. Users gain fluency by learning speaking patterns and practicing repetition in crafted lessons, rather than memorizing vocabulary and grammar. Learners speak 1,000 times on average in their first week with Speak. Since launching in its inaugural market Korea in 2019, Speak now has more than 10 million learners in 40+ countries, with learners more than doubling year-over-year for the last five years.

In a statement, Connor Zwick, Speak co-founder and CEO said, “We've been solving this problem for the last seven years, and the most cutting edge speech-to-speech models are the final unlock in building a one-to-one alternative to human tutoring.” “This financing round will advance our investment in research and development as we double down on our voice-to-voice interface. With these new models, users will experience the speed, ease and natural flow of a human conversation, all while receiving subtle, nuanced real-time feedback on pronunciation, tone and more from our AI language tutor.”

Speak is on a mission to reinvent the way we learn anything, starting with language. As the leading AI language tutor, the company’s core learning philosophy is to get users talking out loud as much as possible on the path to fluency. Between its AI language learning tutor and bespoke video content, Speak supports more than 10 million learners in 40+ countries. Speak is hiring across all departments.

Source: http://www.intelligence360.io/ and https://intelligence360.news/

Ritz Instrument Transformers, an international instrument transformers and cast parts manufacturer for the utility and original equipment manufacturing sectors, will invest $28 million in a new facility in Waynesboro, creating 130 new jobs in Burke County. Ritz develops and produces instrument transformers from 600 V to 500 kV and solid insulation bus-bar systems. The company currently operates two facilities in Georgia. A temporary facility in Burke County can currently support 30 jobs, and these positions will be transferred to the new facility once operational. The other existing facility in Lavonia opened in 2010 and produces low-voltage, medium-voltage, and high-voltage instrument transformers for the utility and OEM sectors.

In a statement, Scott Flowers, Ritz USA CEO and General Manager said, “The investment in a new state-of-the-art factory for high-voltage instrument transformers in Waynesboro marks the single-largest investment to date for the Ritz Group and illustrates the commitment of the company to the North American market.” “We are excited to call Waynesboro our long-term home. The availability of a well-trained workforce and the support extended by Burke County and the State of Georgia made Waynesboro the obvious choice for Ritz. The U.S. electrical grid is undergoing rapid expansion and transformation as the utility industry reacts to and prepares for growth driven by adoption of electric vehicles, new datacenters needed to power AI, continued addition of renewable generation, and an increase in the U.S. manufacturing base.” Ritz’s new facility will be located at Burke County Industrial Park. The site will produce high-voltage instrument transformers, and operations are expected to begin in late 2025. Ritz will be hiring for roles in management, administrative staff, technicians, operators, maintenance, and testers over the next few years.

Load More... Subscribe